Finance Terms and Conditions

FINANCE TERMS AND CONDITIONS

Parties and Effective Date

This Finance Terms and Conditions agreement (the Agreement) is made effective as of between:

Definitions

Capitalized terms used in this Agreement shall have the meanings assigned to them in the text. "Principal" means the amount advanced by the Lender to the Borrower; "Default" means an Event of Default as set forth below.

Principal, Purpose and Disbursement

Principal Amount: $ . The Lender will advance funds to the Borrower for the following stated purpose:

Interest and Fees

Interest Rate (annual, fixed): . Interest shall accrue from the date of disbursement and be calculated on the outstanding principal balance.

Origination Fee (if any): $ . Late payment fee:

Repayment Terms

Repayment Start Date: . Repayment Frequency: . Term:

Prepayment and Application of Payments

Prepayment permitted: Yes No . Prepayment penalty (if any): $

Payments shall be applied first to accrued fees and interest, then to principal, unless otherwise agreed in writing.

Security and Collateral

Security Type: Secured Unsecured

Representations, Warranties and Covenants

Each party represents and warrants that it has full corporate power and authority to enter into this Agreement, that the execution and delivery of this Agreement has been duly authorized, and that this Agreement constitutes a valid and binding obligation enforceable in accordance with its terms. Borrower covenants to use funds for the stated purpose and to provide financial statements upon reasonable request.

Events of Default and Remedies

Events of Default include, without limitation: failure to make any payment when due; breach of any material covenant; insolvency or bankruptcy of Borrower; false representation or warranty; or the occurrence of any material adverse change in Borrower’s financial condition.

Upon an Event of Default, the Lender may declare all amounts outstanding immediately due and payable, exercise all rights and remedies under applicable law, and, if secured, foreclose on collateral. Default interest rate (post-default): .

Fees, Costs and Collection

Borrower shall pay reasonable attorneys' fees, collection costs, and other expenses incurred by Lender in enforcing this Agreement following an Event of Default.

Notices

All notices under this Agreement shall be in writing and delivered to the addresses set forth above or to such other address as either party may designate by notice to the other. Preferred notice method:

Governing Law and Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of the State of . Parties agree to resolve disputes through binding arbitration unless otherwise mutually agreed.

Assignment and Amendments

Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party, except that Lender may assign or transfer its rights to an affiliate or successor without Borrower's consent. This Agreement may be amended only by a written instrument executed by both parties.

Severability; Waiver

If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue in full force and effect. Failure to enforce any right shall not constitute a waiver of that right.

Miscellaneous

Each party signing below certifies that the person signing on its behalf is authorized to do so, that the party has read and understands this Agreement, and that the terms hereof constitute the entire agreement between the parties with respect to the subject matter.

Sign Now