Loan Agreement Unsecured by fqf17964

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									THIS AGREEMENT is made the               day of                         2001

BETWEEN

(1)                       of             (“the Lender”)

(2)                       of             (“the Company”)

WHEREBY IT IS AGREED

(a)     The Company is a company incorporated in England and Wales under
        company registration number [insert Co No]

(b)     The Lender has agreed to advance the sum of £insert principal amount
        advanced (“the Advance”) on the terms and conditions as hereinafter set
        out

NOW IT IS AGREED:-

1.      The Lender shall on the date of this Agreement advance to the Company
        by way of unsecured loan the Advance repayable as hereinafter set out

2.      The Company shall repay the Advance by insert number of repayments
        monthly [or otherwise] payments of £insert amount (together with
        accrued interest pursuant to Clause 3 hereof) by direct debit to the
        Lender’s Bank Account Number [insert number] at [insert Bank name]
        Bank plc, [insert Bank Address] Sort Code [Insert Sort Code]. The first
        payment to be made one calendar month following the date of this
        Agreement.

3.      The Advance shall accrue interest (as well before as after judgement) at a
        rate equivalent to [insert rate %] above the Base Rate of National
        Westminster Bank plc from time to time. Interest shall be charged on a
        daily basis from the date hereof until the date of repayment of the
        Advance with such interest being compounded monthly.

4.      If the Company shall default in repayment of any instalment pursuant to
        Clause 2, the entirety of the Advance together with all interest accrued
        thereon pursuant to Clause 3 shall be repayable immediately upon written
        demand from the Lender to the Company

5.      Any waiver or variation of any term of this agreement will be effective
        only when confirmed in writing by all the parties to this agreement.

6.      Notices under this agreement shall be given in writing to the relevant
        party at the address stated herein (or to such other address as it shall
        previously have notified in writing to the others).

7.      Any failure by either party in exercising their respective rights, powers or
        privileges under this agreement shall not act as a waiver nor shall any
         single or partial exercise thereof preclude any further exercise or any
         right, power or privilege.

8.       This agreement shall be governed by and construed in accordance with
         English law and any claims or disputes arising out of or in connection
         with this agreement shall be subject to the jurisdiction of the English
         courts.

IN WITNESS WHEREOF the parties have executed this Agreement as a Deed the
day and year first above written




…………………………… Director




…………………………….(insert name of Lender)

								
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