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_______ Name: ______________________________ Demand Loan Agreement 8 SCHEDULE Item 1 ­ Collateral Security: Demand Loan Agreement 9 er by: By: _______________________ Demand Loan Agreement 7 Name: ______________________ Signed for and on behalf of Borrower by: By: _________________________________ Name: _______________________e jurisdiction of the courts of _______________[Mention State] and the Federal Court of Australia. THE PARTIES sign this Agreement on the day hereinbefore mentioned. Signed for and on behalf of Lend well as telephone, 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-exclusivual receipt; mailed 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, asroductory paragraphs 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 actersonal delivery in 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 intpenses on a full indemnity basis or on a solicitor and client basis whichever is the greater. iii. (l) Notices Any notice to be given hereunder by any party to the other, may be affected either by ppayable in connection with this agreement or in connection with any payment, receipt or other transaction contemplated by this agreement; including, in each case without limitation, legal costs and exing any independent consultant or other person to evaluate 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 ge in connection with or of this agreement; and the contemplated or actual enforcement or preservation of any rights under this agreement including, without limitation, any expenses incurred in retains and expenses of the Lender or any attorney of the Lender in connection with: 6 ii. Demand Loan Agreement any consent, exercise or non-exercise of any rights, waiver, variation, release or discharh the negotiation, preparation, 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, chargepecific purpose for which it 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 witany other power or right. iii. A waiver is not effective unless it is in writing. iv. Waiver of a power or right is effective only in respect of the specific instance to which it relates and for the s or delay to exercise a power or right does not operate as a waiver of that power or right. ii. The exercise of a power or right does not preclude either its exercise in the future or the exercise of ves are merged in this agreement. (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. A party's failureteral Securities represent 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 representati. (g) Severability If anything in this agreement is unenforceable, illegal or void then it is severed and the rest of this agreement remains in force. (h) Entire Agreement This agreement and the Collay the Lender. (f) Further Assurance The Borrower must promptly at the Borrower's own cost do all things (including executing all documents) necessary or desirable to give full effect to this agreementer to Assign The Lender may assign the benefit of this agreement. (e) Time of the Essence Time is of the essence of the Borrower's obligations under this agreement unless otherwise agreed in writing bas occurred; or any other act matter or thing arising under this agreement; Demand Loan Agreement 5 is for all purposes prima facie evidence of the facts stated in the certificate. (d) Lender's Powntingently owing by the Borrower at a certain date 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 hreatest benefit on the Lender prevails. (c) Certificates i. A certificate purporting to be signed by the Lender or an officer of or agent for the Lender stating: ii. iii. iv. v. the amount owing or coany Collateral Security and all other 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 gobliged to resort to any Collateral Security for payment of the Secured Money before it resorts to this Agreement. (b) Inconsistencies So far as is possible, this Agreement must be read together with right of recourse extends to both the assets of the Borrower personally and the assets of the Trust. 13. MISCELLANEOUS PROVISIONS (a) No Obligation to Resort to Collateral Security The Lender is not Borrower is a trustee is disclosed to the Lender, the Borrower acknowledges that this agreement is binding on the Borrower personally and in its capacity as trustee of the Trust and that the Lender'sds at settlement. 12. TRUST PROVISIONS [Add only when a Trust is present] Where a Borrower has executed this agreement in its capacity as trustee of a trust ("Trust"), whether or not the fact that the obtain such advice; iii. The Borrower has been provided with a copy of the Lender's fees and Charges Schedule and has agreed for those fees and charges to be deducted from the advance of the loan fun___ purposes [Mention Purposes for Loan]; ii. The Lender has recommended that the Borrower obtain independent legal and financial advice about the Loan and that the Borrower has had the opportunity tor any of the information misleading. 11. ACKNOWLEDGEMENT Demand Loan Agreement 4 (a) The Borrower acknowledges that: i. the Loan is to be applied by the Borrower wholly or predominantly for ________iii. all financial statements and information furnished by the Borrower to the Lender are complete and correct and there are no other material facts or considerations the omission of which would rendehreatened against the Borrower before any court, administrative tribunal or arbitrator which could or might result in any material adverse change in the business assets or credit of the Borrower; and on 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, proceeding or arbitration is pending or tdiscretion. 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 bodies corporate, and anything in connectibly 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 interest or other Secured Money at the Lender's l financial and other information which the Lender requires from time to time. (b) Borrower to Reimburse the Lender The Borrower must pay to the Lender on demand any money which the Lender may reasonas has occurred shall be final and binding on the Borrower. 8. GENERAL COVENANTS BY BORROWER IN RELATION TO LOAN (a) Borrower to Provide Financial Information The Borrower must deliver to the Lender alquent 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 that any of these eventon 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 conditions precedent or subseaken 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 Borrower enters into possessis Act; steps are taken by any person towards making the Borrower an externallyadministered body corporate; 3 i. ii. iii. iv. v. vi. vii. viii. Demand Loan Agreement ix. i. ii. the Borrower is tevies, or attempts to levy, any distress or execution against any property of the Borrower; the Borrower being a body corporate, becomes an externally-administered body corporate under the Corporation or effect; an order for payment is made or a judgment is entered against the Borrower, or any related body corporate of the Borrower and is not satisfied within 7 days; any creditor of the Borrower lhave been untrue or misleading when made or deemed to have been made; if all or any part of this Agreement, or the security becomes void, illegal, invalid, unenforceable or of limited or reduced forceal Security; any warranty or representation made or deemed to have been made under this agreement, any Collateral Security or any other written agreement between the Lender and the Borrower proves to ower breaches a term of: · this agreement; · any Collateral Security; or · any other agreement, instrument or document between the Borrower and the Lender with regard to this agreement or any Collaterrovide any part of the Loan which has not already been provided. (b) Events of Default The following are Events of Default: i. ii. the Borrower fails to pay any of the Secured Money when due; the Borr Event of Default occurs or is deemed to have occurred, then at the Lender's option, without any demand or notice: all of the Secured Money immediately becomes payable; and the Lender may decline to pout any deduction, compensation, set-off or abatement whatsoever, with such interest on the Loan to be calculated and compounded monthly not in advance. 7. DEFAULT (a) Lender's Rights on Default If anhe Loan is an interest only loan, and unless and until demand for payment is made by the Lender the Borrower shall pay interest on the Loan to the Lender on the first day of each and every month, withE ON DEMAND Demand Loan Agreement 2 The entire outstanding Loan, together with unpaid interest as herein provided, shall be repayable by the Borrower to the Lender on demand. 6. MONTHLY PAYMENTS Ttime under that judgment, order, deed or other thing at the higher of the rates: i. payable under this agreement; or ii. fixed by or payable under that judgment, order, deed or other thing. 5. PAYABL default. (d) If the Borrower's liability to pay or repay the Secured Money becomes merged in any judgment, order, deed or other thing, the Borrower must pay interest on the amount owing from time to added to the Loan from the date it became due and bears interest from that date, but without prejudice to the Lender's right immediately to sue for that interest, or the other rights of the Lender onf the Secured Money but are not part of the Loan from the dates they become payable until they are paid. (c) If any interest is not paid within 7 days after it becomes due for payment, the interest isonth in which the Loan or the first instalment of the Loan is provided by the Lender, and then on the last Business Day of every following month. (b) The interest must be paid on sums which are part o Collateral Security (if any) in the form required by the Lender. 4. INTEREST (a) The Borrower must pay interest on the Loan at the Rate of Interest of ____________% on the last Business Day of the mtter which in the opinion of the Lender could materially affect the rights or interests of the Lender. (c) A condition precedent to the making of the Loan is that the Lender has been provided with theender is not obliged to make the advance unless the Lender has satisfied itself that all searches and enquiries in relation to the Borrower have resulted satisfactorily and there has not arisen any mainstalments. The Borrower acknowledges receipt of the full amount of the Loan. . 3. CONDITIONS PRECEDENT TO ADVANCE (a) The Lender shall advance to the Borrower the Loan on the advance date; (b) The L. LOAN Subject to the terms of this Agreement the Lender hereby loans to the Borrower the amount of Amount of Loan of $______ (the "Loan"). If the parties agree, the Loan may be provided in 2 or more reference to an Item in the Schedule to this Agreement; (k) the head notes are for reference purposes only; (l) reference to a person includes a corporation and vice versa. Demand Loan Agreement 1 2ny of the parties of their defined terms includes the party's executors, administrators and permitted assigns, or being a company its successors and permitted assigns; (j) reference to an "Item" is a words importing one gender shall include every gender; (h) where more than one person is the Borrower this Agreement shall bind those persons jointly and each of them severally; (i) any reference to aIt is specified in Item 1 of the Schedule; (f) "Secured Money" includes the Loan and all other money which the Borrower agrees to pay under any provision of this agreement including interest; and (g) ) "Collateral Security/Security" includes any mortgage, charge, agreement guarantee, indemnity or instrument of any kind whereby the Loan is secured or intended to be secured in favour of the Lender. able (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 described in this Agreement; (eention 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 Agreement and all other monies payse 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 business in ______________[M_______________of ________________________ (the "Lender") And ___________________of ________________________ (the "Borrower") IT IS AGREED: 1. DEFINITIONS In this Agreement unless the context otherwisubject to the "Terms and Conditions" found at findlegalforms.com. LOAN AGREEMENT THIS LOAN AGREEMENT ("Agreement") is made the ____________________ day of _______________ 20__. By and Between: ____ 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. The use of these materials is CIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATA OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USEDSED AT YOUR OWN RISK. IN NO EVENT WILL: I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INIS" and "WITHOUT LIABILITY." FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS. THE MATERIALS ARE Ul advice. A lawyer/solicitor should be consulted for all serious legal matters. No Lawyer-Client / Solicitor-Client relationship is created by use of these materials. THESE MATERIALS ARE PROVIDED "AS- DISCLAIMER: FindLegalForms, Inc. ("FLF") is not a law firm and does not provide legal advice. The use of these materials is not a substitute for legal advice. Only a lawyer/solicitor can provide legatering an agreement. 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 the respective State's acts. hold a collateral security over property or other assets owned by the borrower in the event of default. Note: It is recommended that the borrower seek independent legal and financial advice before enue 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 agreement. The document includes terms for the Lender tooan 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 the loan is repayable 'on demand'. There is no fixed dLOAN AGREEMENT Secured Loan -without Guaranty - Payable on Demand A Loan Agreement defines the terms and conditions under which a lender advances funds to a borrower. This Loan Agreement is a Demand L