Fill and Sign the Loan Agreement Template Free Sample Docsketch Form

- 1 - LOAN AGREEMENT between ___________________, LENDER and ___________________, COMPANY DATED___________________, 20__LOAN AGREEMENT This loan agreement is made and entered into on this the ____ day of _________, 20__, between ___________________, hereinafter “Lender”, a banking corporation with its principal offices located at _______________________________________________________________ and ___________________, ___________________________, __________________________, ___________________________, a ___________________________ corporation, hereinafter “Company". WITNESSETH WHEREAS, Company is in the business of leasing equipment, supplies and accessories to persons, partnerships, corporations, the State of ___________________ and political subdivisions thereof and the United States of America and desires to assign leases to Lender in exchange for loans; and WHEREAS, Lender is in the business of loaning funds as requested by Company within the State of ___________________; and WHEREAS, Lender and Company have been doing business together as Lender and Company since ____________________, 20____ and presently are doing business together; and WHEREAS, there presently exists between Lender and Company certain security agreements, financing statements, guaranty agreements and assignment of life insurance policies as evidenced by the attached Exhibit "A"; and WHEREAS, there also exists between Lender and Company dated prior to the date of this agreement certain assignment; of leases to Lender by Company and certain security agreements and notes executed by Company to Lender; and WHEREAS, Lender and Company desire that all said security agreements, financing statements, guaranty agreements, assignment of life insurance policies, promissory notes and assignments of leases shall remain in full force and effect except as hereinafter stated, and all said agreements are hereby ratified, approved and continued by Lender and Company; and WHEREAS, all future assignment of leases, promissory notes, financing statements and
Ix''assignments of leases shall be made by lender and company in such manner as they may deem most beneficial to parties thereto and as lender and company desires to enter into further arrangements with such parties: now therefore, the undersigned has duly executed and declared this loan and the loan is hereby confirmed and became a permanent instrument between, lender and , company on this day of ix', 2015; and whereas, this is in the best interests of these parties and is consistent with their respective interests, and thereon and to the extent that any party may have any objection thereto, or dispute regarding this loan, the undersigned hereby requires all parties thereto to consult with all appropriate parties to settle dispute and to mutually agree to their respective obligations and liabilities to pay the loan as well as, if applicable, any charges incurred in connection with such assignment and other related obligations. Witnessed and being authorized thereto by the president thereof, the secretary thereof and all present and past loan lenders of. The state of , new york, the undersigned hereunto duly authority on this day of the year '2015 and on the next day of the current month of ' 2015 is authorized and required by these terms to bind the parties thereto, their successors, agents and employees in accordance with the terms, and conditions of this loan agreement that, all rights of lien, security interests and lien holders are extinguished and the assignee shall receive no rights or interest in, the goods or services of the assignor. Witnessed and being authorized thereto by the president thereof, the secretary thereof and all present and past loan lenders of the state of New York, the undersigned hereunto duly authority on this day of the year of 2015 and on the first day of the current month of '2015 is authorized and required by these terms to bind the parties thereto, their successors, agents and employees in accordance with the terms, and conditions of this loan agreement that, all security interests and lien holders are extinguished and the assignee shall receive no rights or interest in, the goods or services of the assignor. Witnessed and being authorized thereto by the president thereof and the secretary thereof, as aforesaid, the undersigned hereunto has executed and delivered this acknowledgment of the lender as of the day of, 20, 2015, in due form and according to the law of the state of New York, and this acknowledgment shall have the same force and effect in accordance with this agreement as if it were delivered to the party named therein on the day herein mentioned.