Loan Agreement Template - Free Download
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THIS LOAN AGREEMENT is made [DATE] between
(1) [BORROWER'S NAME] (herein called the "Borrower") : and
(2) [LENDER'S NAME] (herein called the "Lender")
IT IS HEREBY AGREED as follows:
Article 1. Facility
1.1 The Lender makes available to the Borrower upon the terms and subject to the conditions
hereof a loan facility in the aggregate principal amount of Japanese Yen [LOAN AMOUNT] (the
"Loan") to be drawn down In accordance with Article 2.
Article 2. Drawing
2.1 The Borrower shall give the Lender not later than 12:00 noon(Japan time) on the third Business
Day, as defined in Article 3.2, prior to the date of the proposed drawing a notice of its intention
to draw the Loan.
Article 3. Repayment and Prepayment
3.1 The Borrower agrees to repay to the Lender on [DATE] (the "Repayment Date" ) the principal
amount of the Loan then outstanding.
3.2 Upon giving not less than thirty(30) Business Day's prior notice to the Lender of its intention to
do so, the Borrower shall be entitled to prepay on any Interest Payment Date, as defined in
Article 4.2, all or any part of the Loan then outstanding together with (i) the accrued interest
thereon and (ii) the amount of any extra costs payable by the Lender on account of such
prepayment. "Business Day" means any day on which banks are open for normal banking
business in Japan.
Article 4. Interest
4.1 Interest shall accrue of the principal amount of the Loan at the rate of OO percent per
annum(the "Interest Rate") (i) from and including the date of the drawdown of the Loan to and
including the initial Interest Payment Date and thereafter (ii) from but excluding the
immediately preceding Interest Payment Date to and Including the next succeeding Interest
Payment Date. The amount of interest shall be computed on the basis of a year of three
hundred and sixty-five(365) days and the actual number of days elapsed.
4.2 For purposes of this Agreement. "Interest Payment Date" means each semi-annual anniversary
of the date of the drawdown of the Loan to and including the Repayment Date, which shall be
the final Interest Payment Date. If an Interest Payment Date falls on a day which Is nota
Business Day, the Interest Payment Date shall be the next succeeding Business Day unless such
next succeeding Business Day (alls is another calendar month, in which case such Interest
Payment Date shall be the next preceding Business Day. The Borrower shall pay accrued
Interest on the principal amount of the Loan in arrears on each Interest Payment Date and on
the Repayment Date.