The Unsecured Loan Agreement Individual To Company is designed for situations where an individual provides financing to a company without taking security over specific assets. This document is commonly used in South Africa for business funding arrangements, often in cases where the lender has a pre-existing relationship with the company or its principals. The agreement must comply with South African legislation, particularly the National Credit Act 34 of 2005 and Companies Act 71 of 2008. It includes comprehensive provisions for loan amount, interest calculation, repayment terms, borrower representations, financial reporting requirements, and default scenarios. This type of agreement is particularly relevant for small to medium-sized businesses seeking alternative financing options, or when traditional secured lending is not practical or necessary.
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1. Parties: Identification of the individual lender and company borrower with their full details
2. Background: Context of the loan arrangement and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the loan amount and its intended use by the company
5. Interest Rate: Interest rate applicable to the loan, calculation method, and compliance with usury laws
6. Repayment Terms: Details of repayment schedule, installment amounts, and payment methods
7. Representations and Warranties: Statements of fact and assurances from both parties
8. Company's Obligations: Specific obligations of the borrowing company including financial reporting
9. Events of Default: Circumstances constituting default and consequences thereof
10. Remedies: Rights and remedies available to the lender in case of default
11. Notices: Process and addresses for formal communications between parties
12. General Provisions: Standard legal provisions including governing law, jurisdiction, and entire agreement
13. Execution: Signature blocks and execution requirements
1. Security: Optional provisions for any informal security arrangements or comfort undertakings, used when there's some form of quasi-security despite being technically unsecured
2. Early Repayment: Terms for voluntary early repayment, used when the borrower wants flexibility to repay early
3. Guarantees: Personal guarantees from directors or shareholders, used when additional comfort is required
4. Assignment: Rights to assign or transfer the loan, used when either party may need to transfer their rights
5. Subordination: Provisions regarding ranking of the loan, used when there are other creditors to consider
6. Tax Gross-Up: Provisions for tax implications and withholding tax, used when tax may impact loan payments
1. Repayment Schedule: Detailed schedule of repayment dates and amounts
2. Compliance Certificate: Template certificate for periodic confirmation of company's compliance with agreement terms
3. Company Resolutions: Corporate resolutions authorizing the loan
4. Calculation of Interest: Detailed methodology for interest calculations and examples
5. Contact Details: Comprehensive contact information for all parties and relevant representatives
Relevant legal definitions
Agreement
Applicable Laws
Business Day
Companies Act
Conditions Precedent
Default Interest Rate
Event of Default
Financial Indebtedness
Financial Year
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Loan Amount
Material Adverse Effect
National Credit Act
Outstanding Amount
Parties
Payment Date
Permitted Purpose
Repayment Date
Repayment Schedule
SARB Prime Rate
Signature Date
Tax
VAT
ZAR
Business Hours
Confidential Information
Directors
Financial Statements
Group
Insolvency Event
Management Accounts
Notice
Permitted Transferee
Related Party
Sanctioned Entity
Signature Date
Termination Date
Writing
Applicable Laws
Business Day
Companies Act
Conditions Precedent
Default Interest Rate
Event of Default
Financial Indebtedness
Financial Year
Interest Payment Date
Interest Period
Interest Rate
Lender
Loan
Loan Amount
Material Adverse Effect
National Credit Act
Outstanding Amount
Parties
Payment Date
Permitted Purpose
Repayment Date
Repayment Schedule
SARB Prime Rate
Signature Date
Tax
VAT
ZAR
Business Hours
Confidential Information
Directors
Financial Statements
Group
Insolvency Event
Management Accounts
Notice
Permitted Transferee
Related Party
Sanctioned Entity
Signature Date
Termination Date
Writing
Clauses
Loan Amount
Interest
Repayment
Conditions Precedent
Representations and Warranties
Covenants
Financial Reporting
Events of Default
Remedies
Payment Mechanics
Tax
Increased Costs
Set-off
Confidentiality
Assignment and Transfer
Notices
Amendments and Waivers
Severability
Entire Agreement
Force Majeure
Anti-Money Laundering
Dispute Resolution
Governing Law
Jurisdiction
Counterparts
Good Faith
Early Termination
Costs and Expenses
Indemnification
Further Assurance
Compliance with Laws
Relationship of Parties
Waiver of Immunity
Third Party Rights
Interest
Repayment
Conditions Precedent
Representations and Warranties
Covenants
Financial Reporting
Events of Default
Remedies
Payment Mechanics
Tax
Increased Costs
Set-off
Confidentiality
Assignment and Transfer
Notices
Amendments and Waivers
Severability
Entire Agreement
Force Majeure
Anti-Money Laundering
Dispute Resolution
Governing Law
Jurisdiction
Counterparts
Good Faith
Early Termination
Costs and Expenses
Indemnification
Further Assurance
Compliance with Laws
Relationship of Parties
Waiver of Immunity
Third Party Rights
Relevant Industries
Financial Services
Small and Medium Enterprises
Real Estate
Technology
Manufacturing
Retail
Professional Services
Construction
Healthcare
Agriculture
Mining
Transport and Logistics
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Secretariat
Executive Management
Commercial
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Financial Controller
Treasury Manager
Company Secretary
Risk Manager
Compliance Officer
Managing Director
CEO
Business Owner
Private Lender
Finance Manager
Commercial Director
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