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______________ Secured Demand Loan Agreement 1 SCHEDULE Item 1 ­ Collateral Security: Item 2 - Guarantor: Secured Demand Loan Agreement 2 _______________________ Name: ______________________________ Signed for and on behalf of Guarantor by: By: _________________________________ Name: ______________________________ Name: ________________entioned. Signed for and on behalf of Lender by: By: _______________________ Name: ______________________ Signed for and on behalf of Borrower by: By: _________________________________ Name: _______the courts of _______________[Mention State] and the Federal Court of Australia. [SIGNATURE PAGE FOLLOWS] Secured Demand Loan Agreement 11 THE PARTIES sign this Agreement on the day hereinbefore m, email and mobile numbers. (m) Governing Law and Jurisdiction i. ii. This agreement is governed by the laws of _______________[Mention State]. The parties submit to the non-exclusive jurisdiction of d notices shall be deemed communicated as of five (5) days after mailing. The Independent Contractor agrees to keep the Company current as to their business and mailing addresses, as well as telephonehs of this Agreement, but each party may change their address by written notice in accordance with this paragraph. Notices delivered personally shall be deemed communicated as of actual receipt; mailen writing, or by mail, registered or certified, postage pre-paid with return receipt requested. Mailed notices shall be addressed to the parties at the addresses appearing in the introductory paragrap full indemnity basis or on a solicitor and client basis whichever is the greater. (l) Notices Any notice to be given hereunder by any party to the other, may be affected either by personal delivery in with any payment, receipt or other transaction contemplated by this 10 ii. iii. Secured Demand Loan Agreement agreement; including, in each case without limitation, legal costs and expenses on ae any matter of concern and in the case of the Lender its administration costs in connection with those events; and stamp duty and other taxes payable in connection with this agreement or in connectiomplated or actual enforcement or preservation of any rights under this agreement including, without limitation, any expenses incurred in retaining any independent consultant or other person to evaluater or any attorney of the Lender in connection with: any consent, exercise or non-exercise of any rights, waiver, variation, release or discharge in connection with or of this agreement; and the contetion, execution, stamping and completion of this agreement and of any forms required by any statute or regulation to be lodged with any registry; the reasonable costs, charges and expenses of the Lendt is given. (k) Costs and Expenses The Borrower must pay or reimburse the Lender on demand for: i. the reasonable costs, charges and expenses of the Lender in connection with the negotiation, preparar right A waiver is not effective unless it is in writing. Waiver of a power or right is effective only in respect of the specific instance to which it relates and for the specific purpose for which iexercise a power or right does not operate as a waiver of that power or right. The exercise of a power or right does not preclude either its exercise in the future or the exercise of any other power oeement. (i) Variation An amendment or variation to this agreement is not effective unless it is in writing and signed by the parties. (j) Waiver Excluded i. ii. iii. iv. A party's failure or delay to the entire agreement between the parties and all prior or contemporaneous representations, statements and agreements (if any) made by the Lender or the Lender's representatives are merged in this agrable, illegal or void then it is severed and the rest of this agreement remains in force. Secured Demand Loan Agreement 9 (h) Entire Agreement This agreement and the Collateral Securities representy at the Borrower's own cost do all things (including executing all documents) necessary or desirable to give full effect to this agreement. (g) Severability If anything in this agreement is unenforceent. (e) Time of the Essence Time is of the essence of the Borrower's obligations under this agreement unless otherwise agreed in writing by the Lender. (f) Further Assurance The Borrower must promptling under this agreement; ii. iii. iv. is for all purposes prima facie evidence of the facts stated in the certificate. (d) Lender's Power to Assign The Lender may assign the benefit of this agreem under this agreement; the rate or rates of interest which are applicable to the Secured Money or any part of it; that a particular Event of Default has occurred; or any other act matter or thing arisils. (c) Certificates A certificate purporting to be signed by the Lender or an officer of or agent for the Lender stating: i. the amount owing or contingently owing by the Borrower at a certain dateer agreements or documents entered into in connection with this agreement and, in the event of inconsistency, the provision most favourable to or which confers the greatest benefit on the Lender prevad Money before it resorts to this Agreement. Secured Demand Loan Agreement 8 (b) Inconsistencies So far as is possible, this Agreement must be read together with any Collateral Security and all othly and the assets of the Trust. 14. MISCELLANEOUS PROVISIONS (a) No Obligation to Resort to Collateral Security The Lender is not obliged to resort to any Collateral Security for payment of the Secureledges that this agreement is binding on the Borrower personally and in its capacity as trustee of the Trust and that the Lender's right of recourse extends to both the assets of the Borrower personalnt] Where a Borrower has executed this agreement in its capacity as trustee of a trust ("Trust"), whether or not the fact that the Borrower is a trustee is disclosed to the Lender, the Borrower acknowf the Agreement for service on the Borrower, but addressed to the Guarantor, shall be deemed to have been given to the Guarantor for all purposes. 13. TRUST PROVISIONS [Add only when a Trust is presen Guarantor Notwithstanding previous actual service on the Guarantor, any notice, document or any originating process or other written document in proceedings given in accordance with the provisions oration or trustee, that corporation or trustee warrants that it has full and unrestricted power to covenant, agree and indemnify as hereinbefore provided and to execute this Agreement. (h) Service ouarantor in trust for the Lender and paid on demand to the Lender in reduction of the amount owing by the Guarantor to the Lender. (g) Warranties by Guarantor If the Guarantor is or includes a corposignment arrangement, winding-up, receivership or demise of the Borrower and any amount thereby received by the Guarantor from any distribution, dividend or payment shall be received and held by the Go diminish any distribution, dividend or payment which, but for such proof, the Lender would be entitled to receive. The Guarantor will, if required by the Lender, prove or claim in the bankruptcy, as-up, receivership or the demise of the Borrower resulting in claims by creditors, the Guarantor agrees with the Lender that the Guarantor will not prove or claim in competition with the Lender so as ted Demand Loan Agreement 7 (f) No Proof in Estate of Borrower in Competition with Lender In the event of the bankruptcy, assignment for the benefit of creditors, arrangement with creditors, windingpartially) and refuse to complete, enforce or assign, any judgment, specialities, guarantees, negotiable instruments or other securities held by the Lender, whether satisfied by payment or not. Securf the Borrower or any of the funds or assets that the Lender may be entitled to receive or have claim upon. The Lender may at its absolute discretion vary, exchange, renew, modify, release (wholly or ble. The Lender need not, and shall not be required by the Guarantor, to marshal or otherwise realise in favour or for the benefit of the Guarantor any security held by the Lender from or in respect oindebtedness or liability to the Lender of the Borrower, to the intent that the covenants in this Agreement shall be enforceable notwithstanding that any other obligation is extinguished or unenforceacondary to any other obligations including the obligations of the Borrower. In particular they shall not be affected by any security or right which the Lender may now hold or hereafter obtain for any similar to this Part (including this clause). (e) Principal Obligations The obligations of the Guarantor in this Part are principal obligations and shall not be treated as ancillary, collateral or seart of the Guarantor in this Part. The Guarantor will, if requested by the Lender, at the expense of the Lender enter into a deed with any transferee or assignee from the Lender in terms substantially the Lender's behalf. (d) Assignment of Benefit of Guarantee Should the Lender transfer or assign its interest in this Agreement, the Lender may also assign the benefit of all the provisions on the pnt legislation and is not so registered at any time during the term of the Agreement for any reason whatsoever including without limitation the neglect or default of the Lender or of persons acting onon whereby the Guarantor's liability to the Lender would, but for this provision, have been affected or discharged; and the fact that this Agreement is required to be registered pursuant to any relevaeement between the Lender and the Borrower or any other agreement between the Lender and the Borrower; any other event, act, omission, mistake, laches or default of the Lender, the Manager or any pers-claim or other deductions on the part of the Borrower or any Guarantor; 6 vii. viii. ix. x. xi. Secured Demand Loan Agreement xii. xiii. xiv. any variation of the terms of this Agreement by agr on behalf of the Lender or the Manager contrary to the interests of the Guarantor; the obtaining of any judgment against the Borrower or any Guarantor; any actual or alleged set-off, defence, counter Agreement; any lack of capacity or power by the Borrower to enter into this Agreement or by any Guarantor to enter into this Part; any act or omission of the Lender, the Manager, or any person actingmay take place between the Lender and the Borrower, the Lender and any Guarantor, or the Borrower and any Guarantor; the Lender failing to exercise or waiving or deferring any of its rights under thisrrower or of any Guarantor from any obligation of the Borrower or such Guarantor under this Agreement; any transaction, arrangement or agreement whether in respect of this Agreement or otherwise that or any Guarantor or any other person; the giving to the Borrower or to any other person of any time, credit, consideration, forbearance or other indulgence; the release (wholly or partially) of the Boe Borrower or any Guarantor; the Lender becoming a party to or bound by any compromise, assignment of property, scheme of arrangement, composition of debts or scheme of reconstruction by the Borrower apacity, bankruptcy, assignment for the benefit of creditors, arrangement with creditors, winding-up, reconstruction, official management, receivership, liquidation, striking off or other demise of thed by anything and in particular, and without limiting the generality of the foregoing, shall not be affected by i. ii. i. iii. iv. v. vi. the termination of this Agreement; the death, mental incequence of any failure on the part of the Borrower to discharge its obligations under this Agreement. (c) Liability of Guarantor The liability of the Guarantor under this Agreement shall not be affectve been payable by or recoverable from the Borrower had this Agreement been fully enforceable against the Borrower; ii. any loss, damages, costs or expenses sustained or incurred by the Lender in cons of:- Secured Demand Loan Agreement 5 any of the terms of this Agreement not being enforceable by the Lender against the Borrower for any reason against any loss, including all money which would haervance of all such obligations whether arising in contract or by operation of law in equity or otherwise. ii. (b) Indemnity The Guarantor shall indemnify the Lender on demand against and in respecterality of the foregoing) its obligation to pay loan repayments and other moneys and any obligation to indemnify the Lender and the Guarantor hereby guarantees the due and punctual performance and obsnd otherwise. The Guarantor hereby undertakes and agrees with the Lender that the Borrower shall at all times punctually discharge all its obligations to the Lender including (without limiting the genarticular he/she will be liable for the payment of all money payable by the Borrower to the Lender under this Agreement including amounts indemnified, damages resulting from breach of this Agreement a be jointly (with the Borrower and each other Guarantor named in this Agreement) and severally liable to the Lender for the due performance and observance of all the provisions in this Agreement. In p the request of the Guarantors (which request is testified by the execution of this Agreement by the Guarantors), each Guarantor named in Item 2 of the Schedule agrees with the Lender that he/she willd has agreed for those fees and charges to be deducted from the advance of the loan funds at settlement. 12. GUARANTEE (a) Guarantor: i. In consideration of the Lender entering into this Agreement atnd financial advice about the Loan and that the Borrower has had the opportunity to obtain such advice; and iii. The Borrower has been provided with a copy of the Lender's fees and Charges Schedule anhe Borrower wholly or predominantly for ______________________________________________ purposes [Mention Purposes for Loan]; ii. The Lender has recommended that the Borrower obtain independent legal aations the omission of which would render any of the information misleading. 4 Secured Demand Loan Agreement 11. ACKNOWLEDGEMENT (a) The Borrower acknowledges that: i. the Loan is to be applied by ts assets or credit of the Borrower; and all financial statements and information furnished by the Borrower to the Lender iii. are complete and correct and there are no other material facts or considerroceeding or arbitration is pending or threatened against the Borrower before any court, administrative tribunal or arbitrator which could or might result in any material adverse change in the businesdies corporate, and anything in connection with them that are material to the assessment of the nature and amount of the risk undertaken by the Lender in entering into this agreement; ii. no action, p or other Secured Money at the Lender's discretion. 10. WARRANTIES (a) The Borrower warrants that: i. it has fully disclosed in writing to the Lender all facts relating to the Borrower, its related bod any money which the Lender may reasonably see fit to pay to remedy any default of the Borrower. 9. APPLICATION OF MONEY Money received by the Lender from the Borrower may be applied towards interesthe Borrower must deliver to the Lender all financial and other information that the Lender requires from time to time. (b) Borrower to Reimburse the Lender The Borrower must pay to the Lender on demanthat any of these events has occurred shall be final and binding on the Borrower and any Guarantor. 8. GENERAL COVENANTS BY BORROWER IN RELATION TO LOAN (a) Borrower to Provide Financial Information Tions precedent or subsequent described in this Agreement or otherwise or replies to any requisitions made by the Borrower are or become untrue, false or misleading; AND a determination by the Lender er enters into possession of or takes control of any of those assets or takes any steps to enter into possession of or take control of any of those assets; If any representations, warranties or conditrate; the Borrower is taken to have failed to comply with a statutory demand within the meaning of section 459F of the Corporations Act; or a person holding a security interest in assets of the Borrow; 3 i. ii. iii. iv. v. vi. vii. Secured Demand Loan Agreement viii. ix. x. xi. steps are taken by any person towards making the Borrower or any Guarantor an externally-administered body corpolevy, any distress or execution against any property of the Borrower; the Borrower or any Guarantor, being a body corporate, becomes an externallyadministered body corporate under the Corporations Acthe Borrower, any related body corporate of the Borrower or any guarantor of the Secured Money or any part of it and is not satisfied within 7 days; any creditor of the Borrower levies, or attempts to security or the Guarantee given by the Guarantor becomes void, illegal, invalid, unenforceable or of limited or reduced force or effect; an order for payment is made or a judgment is entered against tal Security or any other written agreement between the Lender and the Borrower proves to have been untrue or misleading when made or deemed to have been made; if all or any part of this Agreement the ocument between the Borrower and the Lender with regard to this agreement or any Collateral Security; any warranty or representation made or deemed to have been made under this agreement, any Collater of Default: i. ii. the Borrower fails to pay any of the Secured Money when due; the Borrower breaches a term of: · this agreement; · any Collateral Security; or · any other agreement, instrument or dce: all of the Secured Money immediately becomes payable; and the Lender may decline to provide any part of the Loan which has not already been provided. (b) Events of Default The following are Eventsed and compounded monthly not in advance. 7. DEFAULT (a) Lender's Rights on Default If an Event of Default occurs or is deemed to have occurred, then at the Lender's option, without any demand or notiall pay interest on the Loan to the Lender on the first day of each and every month, without any deduction, compensation, set-off or abatement whatsoever, with such interest on the Loan to be calculatovided, shall be repayable by the Borrower to the Lender on demand. 6. MONTHLY PAYMENTS The Loan is an interest only loan, and unless and until demand for payment is made by the Lender the Borrower shi. fixed by or payable under that judgment, order, deed or other thing. 5. PAYABLE ON DEMAND Secured Demand Loan Agreement 2 The entire outstanding Loan, together with unpaid interest as herein prd or other thing, the Borrower must pay interest on the amount owing from time to time under that judgment, order, deed or other thing at the higher of the rates: i. payable under this agreement; or is right immediately to sue for that interest, or the other rights of the Lender on default. (d) If the Borrower's liability to pay or repay the Secured Money becomes merged in any judgment, order, dees not paid within seven (7) days after it becomes due for payment, the interest is added to the Loan from the date it became due and bears interest from that date, but without prejudice to the Lender'ry following month. (b) The interest must be paid on sums which are part of the Secured Money but are not part of the Loan from the dates they become payable until they are paid. (c) If any interest iat the Rate of Interest of ____________% on the last Business Day of the month in which the Loan or the first instalment of the Loan is provided by the Lender, and then on the last Business Day of eveent to the making of the Loan is that the Lender has been provided with the Collateral Security (if any) in the form required by the Lender. 4. INTEREST (a) The Borrower must pay interest on the Loan o the Borrower have resulted satisfactorily and there has not arisen any matter which in the opinion of the Lender could materially affect the rights or interests of the Lender. (d) A condition precedng the repayment of all monies payable by the Borrower hereunder. (c) The Lender is not obliged to make the advance unless the Lender has satisfied itself that all searches and enquiries in relation tTIONS PRECEDENT TO ADVANCE (a) The Lender shall advance to the Borrower the Loan on the advance date. (b) The Guarantor (if any) shall execute a Guarantee in a form acceptable to the Lender guaranteeihe amount of Amount of Loan of $______ (the "Loan"). If the parties agree, the Loan may be provided in 2 or more instalments. The Borrower acknowledges receipt of the full amount of the Loan. 3. CONDIs only; and (m) reference to a person includes a corporation and vice versa. Secured Demand Loan Agreement 1 2. LOAN Subject to the terms of this Agreement the Lender hereby loans to the Borrower td assigns, or being a company its successors and permitted assigns; (k) reference to an "Item" is a reference to an Item in the Schedule to this Agreement; (l) the head notes are for reference purposer this Agreement shall bind those persons jointly and each of them severally; (j) any reference to any of the parties of their defined terms includes the party's executors, administrators and permitteoney which the Borrower agrees to pay under any provision of this agreement including interest; (h) words importing one gender shall include every gender; (i) where more than one person is the Borroweed in favour of the Lender. It is specified in Item 1 of the Schedule; (f) "Guarantor" shall mean the person identified in Item 2 of the Schedule; (g) "Secured Money" includes the Loan and all other mcribed in this Agreement; (e) "Collateral Security/Security" includes any mortgage, charge, agreement guarantee, indemnity or instrument of any kind whereby the Loan is secured or intended to be securent and all other monies payable (actually or contingently) by the Borrower to the Lender hereunder and where the context admits each component part; (d) "event of default" means any of the events desbusiness in ______________[Mention State]; (c) "debt" means the sum from time to time of all advances outstanding together with interest thereon calculated by the Lender in accordance with this Agreemt unless the context otherwise requires: (a) "advance date" means the date on which such advance is made; (b) "business day" means any date on which Trading Banks and the Lender are open for ordinary _ 20__. By and Between: ___________________of ________________________ (the "Lender") And ___________________of ________________________ (the "Borrower") IT IS AGREED: 1. DEFINITIONS In this Agreemene use of these materials is subject to the "Terms and Conditions" found at findlegalforms.com. LOAN AGREEMENT THIS LOAN AGREEMENT ("Agreement") is made the ____________________ day of ______________ INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. ThOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATA OR PROFITS; OR BUSINESS NEEDS. THE MATERIALS ARE USED AT YOUR OWN RISK. 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If such an advice is sought, a declaration certificate for the same should be attached to this Agreement, duly signed before the witness prescribed in th(a person who promises to pay and meet all the obligations of the borrower if the borrower fails to pay or meet those obligations. Note: It is recommended that the borrower seek independent legal and ement. The document includes: (i) terms for the Lender to hold a security charge over property or other assets owned by the borrower in the event of default; and (ii) an option to include a guarantor e loan is repayable 'on demand'. There is no fixed due date for the repayment of the loan. Upon demand, the Borrower is given a certain period of time to repay the outstanding balance of the loan agre suit one's needs. This Loan Agreement is a Demand Loan Agreement is one where the remaining monies owing in a loan agreement does not need to be repaid until the Lender demands to be repaid. Hence thLOAN AGREEMENT Secured Loan with Guaranty - Payable on Demand A Loan Agreement defines the terms and conditions under which "the lender" advances funds to "the borrower" and can easily be modified to