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ame: ______________________________ Demand Loan Agreement 7 on behalf of Lender by: By: _______________________ Name: ______________________ Signed for and on behalf of Borrower by: By: _________________________________ Name: ______________________________ Niction of the courts of _______________[Mention State] and the Federal Court of Australia. Demand Loan Agreement 6 THE PARTIES sign this Agreement on the day hereinbefore mentioned. Signed for and telephone, email and mobile numbers. (l) Governing Law and Jurisdiction i. ii. This agreement is governed by the laws of _______________[Mention State]. The parties submit to the non-exclusive jurisdipt; 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, as well asy 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 actual recedelivery 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 introductoremnity basis or on a solicitor and client basis whichever is the greater. · ii. iii. iv. (k) Notices Any notice to be given hereunder by any party to the other, may be affected either by personal n 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 expenses on a full indconsultant 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 payable in connectioor of this agreement; and · the contemplated or actual enforcement or preservation of any rights under this agreement including, without limitation, any expenses incurred in retaining any independent s, charges and expenses of the Lender 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 ction with 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 costr which it is given. Demand Loan Agreement 5 (j) 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 conne 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 specific purpose foise 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 any other power orthis agreement. (h) Variation An amendment or variation to this agreement is not effective unless it is in writing and signed by the parties. (i) Waiver Excluded i. A party's failure or delay to exercpresents 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 s agreement. (f) Severability If anything in this agreement is unenforceable, illegal or void then it is severed and the rest of this agreement remains in force. (g) Entire Agreement This Agreement ren writing by the Lender. (e) 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 thiender's Power to Assign The Lender may assign the benefit of this agreement. (d) Time of the Essence Time is of the essence of the Borrower's obligations under this agreement unless otherwise agreed i that a particular Event of Default has occurred; or any other act matter or thing arising under this agreement; is for all purposes prima facie evidence of the facts stated in the certificate. (c) Lcate purporting to be signed by the Lender or an officer of or agent for the Lender stating: ii. iii. iv. the amount owing or contingently owing by the Borrower at a certain date under this agreement;his agreement and, in the event of inconsistency, the provision most favourable to or which confers the greatest benefit on the Lender prevails. Demand Loan Agreement 4 (b) Certificates i. A certifisets of the Trust. 13. MISCELLANEOUS PROVISIONS (a) Inconsistencies So far as is possible, this Agreement must be read together with all other agreements or documents entered into in connection with 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 personally and the asorrower 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 acknowledges that ts fees and Charges Schedule and has agreed for those fees and charges to be deducted from the advance of the loan funds at settlement. 12. TRUST PROVISIONS [Add only when a Trust is present] Where a Borrower obtain independent legal and financial advice about the Loan and that the Borrower has had the opportunity to obtain such advice; iii. The Borrower has been provided with a copy of the Lender'(a) The Borrower acknowledges that: i. the Loan is to be applied by the Borrower wholly or predominantly for ___________ purposes [Mention Purposes for Loan]; ii. The Lender has recommended that the By the Borrower to the Lender are complete and correct and there are no other material facts or considerations the omission of which would render any of the information misleading. 11. ACKNOWLEDGEMENT rative tribunal or arbitrator which could or might result in any material adverse change in the business assets or credit of the Borrower; and iii. all financial statements and information furnished bature and amount of the risk undertaken by the Lender in entering into this agreement; ii. no action, proceeding or arbitration is pending or threatened against the Borrower before any court, administ: i. it has fully disclosed in writing to the Lender all facts relating to the Borrower, its related bodies corporate, and anything in connection with them that are material to the assessment of the nceived by the Lender from the Borrower may be applied towards interest or other legitimate purposes at the Lender's discretion. Demand Loan Agreement 3 10. WARRANTIES (a) The Borrower warrants thatr to Reimburse the Lender The Borrower must pay to the Lender on demand any money which the Lender may reasonably see fit to pay to remedy any default of the Borrower. 9. APPLICATION OF MONEY Money reR IN RELATION TO LOAN (a) Borrower to Provide Financial Information The Borrower must deliver to the Lender all financial and other information which the Lender requires from time to time. (b) Borroweor misleading; ii. iii. iv. v. vi. vii. viii. ix. AND a determination by the Lender that any of these events has occurred shall be final and binding on the Borrower. 8. GENERAL COVENANTS BY BORROWEt; or If any representations, warranties or conditions precedent or subsequent described in this Agreement or otherwise or replies to any requisitions made by the Borrower are or become untrue, false n towards making the Borrower an externallyadministered body corporate; the Borrower is taken to have failed to comply with a statutory demand within the meaning of section 459F of the Corporations Actress or execution against any property of the Borrower; the Borrower being a body corporate, becomes an externally-administered body corporate under the Corporations Act; steps are taken by any perso 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 levies, or attempts to levy, any disr misleading when made or deemed to have been made; if all or any part of this Agreement becomes void, illegal, invalid, unenforceable or of limited or reduced force or effect; an order for payment isto this agreement; any warranty or representation made or deemed to have been made under this agreement, or any other written agreement between the Lender and the Borrower proves to have been untrue ofault The following are Events of Default: i. the Borrower breaches a term of: a. this agreement; and/or b. any other agreement, instrument or document between the Borrower and the Lender with regard urred, then at the Lender's option, without any demand or notice the Lender may decline to provide any part of the Loan which has not already been provided. Demand Loan Agreement 2 (b) Events of Dement 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 an Event of Default occurs or is deemed to have occuntil 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, without any deduction, compensation, set-off or abatee outstanding Loan, together with unpaid interest as herein provided, shall be repayable by the Borrower to the Lender on demand. 6. MONTHLY PAYMENTS The Loan is an interest only loan, and unless and me 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 on default. 5. PAYABLE ON DEMAND The entirder, and then on the last Business Day of every following month. (b) If any interest is not paid within 7 days after it becomes due for payment, the interest is added to the Loan from the date it beca) The Borrower must pay interest on the Loan at 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 Lenation to 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. 4. INTEREST (ae Lender shall advance to the Borrower the Loan on the advance date; and (b) The Lender is not obliged to make the advance unless the Lender has satisfied itself that all searches and enquiries in relrties agree, the Loan Demand Loan Agreement 1 may be provided in 2 or more instalments. The Borrower acknowledges receipt of the full amount of the Loan. . 3. CONDITIONS PRECEDENT TO ADVANCE (a) Th a person includes a corporation and vice versa. 2. LOAN Subject to the terms of this Agreement the Lender hereby grants the Borrower an unsecured loan of the Amount of $______ (the "Loan"). If the pay its successors and permitted assigns; (h) reference to an "Item" is a reference to an Item in the Schedule to this Agreement; (i) the head notes are for reference purposes only; and (j) reference tothose persons jointly and each of them severally; (g) any reference to any of the parties of their defined terms includes the party's executors, administrators and permitted assigns, or being a compannt of default" means any of the events described in this Agreement; (e) words importing one gender shall include every gender; (f) where more than one person is the Borrower this Agreement shall bind the Lender in accordance with this Agreement and all other monies payable (actually or contingently) by the Borrower to the Lender hereunder and where the context admits each component part; (d) "eveanks and the Lender are open for ordinary business in ______________[Mention State]; (c) "debt" means the sum from time to time of all advances outstanding together with interest thereon calculated byIS AGREED: 1. DEFINITIONS In this Agreement 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 B ____________________ day of _______________ 20__. By and Between: ___________________of ________________________ (the "Lender") And ___________________of ________________________ (the "Borrower") IT Y WAY OUT OF THE USE OF THESE MATERIALS. The use of these materials is subject to the "Terms and Conditions" found at findlegalforms.com. LOAN AGREEMENT THIS LOAN AGREEMENT ("Agreement") is made theS; LOSS OF USE, DATA OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANOF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICEFOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS. THE MATERIALS ARE USED AT YOUR OWN RISK. IN NO EVENT WILL: I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS is created by use of these materials. THESE MATERIALS ARE PROVIDED "AS-IS" and "WITHOUT LIABILITY." FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS a substitute for legal advice. Only a lawyer/solicitor can provide legal advice. A lawyer/solicitor should be consulted for all serious legal matters. No Lawyer-Client / Solicitor-Client relationship ly signed before the witness prescribed in the respective State's acts. DISCLAIMER: FindLegalForms, Inc. ("FLF") is not a law firm and does not provide legal advice. The use of these materials is not that the borrower seek independent legal and financial advice before entering an agreement. If such an advice is sought, a declaration certificate for the same should be attached to this Agreement, dud loan advanced to a borrower. Here, there is no need for the Lender to hold a collateral security over property or other assets owned by the borrower in the event of default. Note: It is recommended 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 agreement. The document includes terms for an unsecure 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 the loan is repayable 'on demand'. There is no fixedLOAN AGREEMENT Unsecured 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