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___ Name: ______________________________ Name: ______________________________ SCHEDULE Unsecured Demand Loan Agreement 11 Item 1 - Guarantor: Unsecured Demand Loan Agreement 12 orrower by: By: _________________________________ Name: ______________________________ Name: ______________________________ Signed for and on behalf of Guarantor by: By: ______________________________ 10 THE PARTIES sign this Agreement on the day hereinbefore mentioned. Signed for and on behalf of Lender by: By: _______________________ Name: ______________________ Signed for and on behalf of B_____________[Mention State]. The parties submit to the non-exclusive jurisdiction of the courts _______________[Mention State] and the Federal Court of Australia. of Unsecured Demand Loan Agreementp the Company current as to their business and mailing addresses, as well as telephone, email and mobile numbers. (l) Governing Law and Jurisdiction i. ii. This agreement is governed by the laws of __ Notices delivered personally shall be deemed communicated as of actual receipt; mailed notices shall be deemed communicated as of five (5) days after mailing. The Independent Contractor agrees to keell be addressed to the parties at the addresses appearing in the introductory paragraphs of this Agreement, but each party may change their address by written notice in accordance with this paragraph.ven hereunder by any party to the other, may be affected either by personal delivery in writing, or by mail, registered or certified, postage pre-paid with return receipt requested. Mailed notices sha ii. iii. including, in each case without limitation, legal costs and expenses on a full indemnity basis or on a solicitor and client basis whichever is the greater. (k) Notices Any notice to be gin connection with those events; and stamp duty and other taxes payable in connection with this agreement or in connection with any payment, receipt or other transaction contemplated by this agreement; including, without limitation, any expenses incurred in retaining any independent consultant or other person to evaluate any matter of concern and in the case of the Lender its administration costs in-exercise of any rights, waiver, variation, release or discharge in connection with or of this agreement; and the contemplated or actual enforcement or preservation of any rights under this agreementired by any statute or regulation to be lodged with any registry; the reasonable costs, charges and expenses of the Lender or any attorney of the Lender in connection with: any consent, exercise or nor on demand for: i. the reasonable costs, charges and expenses of the Lender in connection with the negotiation, preparation, execution, stamping and completion of this agreement and of any forms requinstance to which it relates and for the specific purpose for which it is given. ii. iii. iv. Unsecured Demand Loan Agreement 9 (j) Costs and Expenses The Borrower must pay or reimburse the Lendether its exercise in the future or the exercise of any other power or 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 y the parties. (i) Waiver Excluded i. A party's failure or delay to exercise 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 eiif any) made by the Lender or the Lender's representatives are merged in this agreement. (h) Variation An amendment or variation to this agreement is not effective unless it is in writing and signed bf this agreement remains in force. (g) Entire Agreement This agreement represents the entire agreement between the parties and all prior or contemporaneous representations, statements and agreements (xecuting all documents) necessary or desirable to give full effect to this agreement. (f) Severability If anything in this agreement is unenforceable, illegal or void then it is severed and the rest othe Borrower's obligations under this agreement unless otherwise agreed in writing by the Lender. (e) Further Assurance The Borrower must promptly at the Borrower's own cost do all things (including erposes prima facie evidence of the facts stated in the certificate. (c) Lender's Power to Assign The Lender may assign the benefit of this agreement. (d) Time of the Essence Time is of the essence of n date under this agreement; that a particular Event of Default has occurred; or any other act matter or thing arising under this agreement; 8 ii. iii. Unsecured Demand Loan Agreement is for all pur prevails. (b) 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 certaiall 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 greatest benefit on the Lendese extends to both the assets of the Borrower personally and the assets of the Trust. 14. MISCELLANEOUS PROVISIONS (a) Inconsistencies So far as is possible, this Agreement must be read together with rustee 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's right of recour 13. 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 Borrower is a t proceedings given in accordance with the provisions of 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.rovided and to execute this Agreement. (h) Service on Guarantor Notwithstanding previous actual service on the Guarantor, any notice, document or any originating process or other written document ins by Guarantor If the Guarantor is or includes a corporation or trustee, that corporation or trustee warrants that it has full and unrestricted power to covenant, agree and indemnify as hereinbefore p and held by the Guarantor in trust for the Lender and paid on demand to the Lender in reduction of the amount owing by the Guarantor to the Lender. Unsecured Demand Loan Agreement 7 (g) Warrantiethe bankruptcy, assignment 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 receivedthe Lender so as to 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 creditors, winding-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 ions including the obligations of the Borrower. (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 ding 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 secondary to any other obligat 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 similar to this Part (inclussignment 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 part of the Guarantor in this 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 on the Lender's behalf. (d) A v. vi. vii. viii. ix. x. xi. xii. xiii. Unsecured Demand Loan Agreement 6 xiv. the fact that this Agreement is required to be registered pursuant to any relevant legislation and is not sot, act, omission, mistake, or default of the Lender, the Manager or any person whereby the Guarantor's liability to the Lender would, but for this provision, have been affected or discharged; and iv. the Borrower or any Guarantor; any variation of the terms of this Agreement by agreement between the Lender and the Borrower or any other agreement between the Lender and the Borrower; any other evenontrary 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-claim or other deductions on the part of 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 acting on behalf of the Lender or the Manager cBorrower, 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 this Agreement ; any lack of capacity or powertion of the Borrower or such Guarantor under this Agreement; any transaction, arrangement or agreement whether in respect of this Agreement or otherwise that may take place between the Lender and 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 Borrower or of any Guarantor from any obligacoming a party to or bound by any compromise, assignment of property, scheme of arrangement, composition of debts or scheme of reconstruction by the Borrower or any Guarantor or any other person; the ors, winding-up, reconstruction, official management, receivership, liquidation, striking off or other demise of the Borrower or any Guarantor; Unsecured Demand Loan Agreement 5 iii. the Lender benerality of the foregoing, shall not be affected by i. ii. the termination of this Agreement; the death, mental incapacity, bankruptcy, assignment for the benefit of creditors, arrangement with credit obligations under this Agreement. ii. (c) Liability of Guarantor The liability of the Guarantor under this Agreement shall not be affected by anything and in particular, and without limiting the gereement been fully enforceable against the Borrower; any loss, damages, costs or expenses sustained or incurred by the Lender in consequence of any failure on the part of the Borrower to discharge itsis Agreement not being enforceable by the Lender against the Borrower for any reason against any loss, including all money which would have been payable by or recoverable from the Borrower had this Agations whether arising in contract or by operation of law in equity or otherwise. (b) Indemnity The Guarantor shall indemnify the Lender on demand against and in respect of:i. any of the terms of th 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 observance of all such obligor 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 generality of the foregoing)e 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 and otherwise. ii. The Guaranthis Agreement) and severally liable to the Lender for the due 4 Unsecured Demand Loan Agreement performance and observance of all the provisions in this Agreement. In particular he/she will be liablexecution of this Agreement by the Guarantors), each Guarantor named in Item 2 of the Schedule agrees with the Lender that he/she will be jointly (with the Borrower and each other Guarantor named in tvance of the loan funds at settlement. 12. GUARANTEE (a) Guarantor: i. In consideration of the Lender entering into this Agreement at the request of the Guarantors (which request is testified by the he opportunity to obtain such advice; and 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 ad____________________ 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 tld render any of the information misleading. 11. ACKNOWLEDGEMENT (a) The Borrower acknowledges that: i. the Loan is to be applied by the Borrower wholly or predominantly for __________________________er; and 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 wouing or threatened 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 Borrowconnection 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 pendender'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 bodies corporate, and anything in fault of the Borrower. Unsecured Demand Loan Agreement 3 9. APPLICATION OF MONEY Money received by the Lender from the Borrower may be applied towards interest or other legitimate purposes at the Lthat 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 reasonably see fit to pay to remedy any derower and any Guarantor. 8. GENERAL COVENANTS BY BORROWER IN RELATION TO LOAN (a) Borrower to Provide Financial Information The Borrower must deliver to the Lender all financial and other information Borrower are or become untrue, false or misleading; i. iii. iv. vi. vii. viii. ix. x. AND a determination by the Lender that any of these events has occurred shall be final and binding on the Borf section 459F of the Corporations Act; or If any representations, warranties or conditions precedent or subsequent described in this Agreement or otherwise or replies to any requisitions made by the taken by any person towards making the Borrower or any Guarantor an externally-administered body corporate; the Borrower is taken to have failed to comply with a statutory demand within the meaning odistress or execution against any property of the Borrower; he Borrower or any Guarantor, being a body corporate, becomes an externallyadministered body corporate under the Corporations Act; steps are security or the Guarantee given by the Guarantor becomes void, illegal, invalid, unenforceable or of limited or reduced force or effect; any creditor of the Borrower levies, or attempts to levy, any s agreement, 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 theis agreement; · any other agreement, instrument or document between the Borrower and the Lender with regard to this agreement; any warranty or representation made or deemed to have been made under thihich 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 Borrower breaches a term of: · thf Default occurs or is deemed to have occurred, then at the Lender's option, without any demand or notice: Unsecured Demand Loan Agreement 2 the Lender may decline to provide any part of the Loan wdeduction, 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 an Event ois 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, without any n default. 5. PAYABLE ON DEMAND 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 The Loan s 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 of the Loan is provided by the Lender, and then on the last Business Day of every following month. (b) If any interest is not paid within seven (7) days after it becomes due for payment, the interest ists of 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 month in which the Loan or the first instalment o all searches and enquiries in relation 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 intere form acceptable to the Lender guaranteeing 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 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 Guarantor (if any) shall execute a Guarantee in a an unsecured loan of the Amount of $______ (the "Loan"). If the parties agree, the Loan Unsecured Demand Loan Agreement 1 may be provided in 2 or more instalments. The Borrower acknowledges receipthe head notes are for reference purposes only; and (k) reference to a person includes a corporation and vice versa. 2. LOAN Subject to the terms of this Agreement the Lender hereby grants the Borrower executors, administrators and permitted assigns, or being a company its successors and permitted assigns; (i) reference to an "Item" is a reference to an Item in the Schedule to this Agreement; (j) tere more than one person is the Borrower this Agreement shall bind those persons jointly and each of them severally; (h) any reference to any of the parties of their defined terms includes the party'sart; (d) "event of default" means any of the events described in this Agreement; (e) "Guarantor" means the person specified in Item 1. (f) words importing one gender shall include every gender; (g) whcalculated by 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 pich Trading Banks 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 rrower") IT IS 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 wh is made the ____________________ day of _______________ 20__. By and Between: ___________________of ________________________ (the "Lender") And ___________________of ________________________ (the "BoRISING IN ANY 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")S OR SERVICES; 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) APUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODMPLETENESS FOR 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 lationship 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 COals is not 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 reeement, duly 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 matericommended 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 Agrovides an option to include a guarantor. A guarantor is 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 reoan 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. This Loan Agreement also pre 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 unsecured lan 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 duLOAN AGREEMENT Unsecured Loan with 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 Lo