Loan Agreement - Free Legal Template
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The Loan Agreement document can be used to legally bind the Lender and Borrower in a contractual relationship where the Lender agrees to provide a specific loan amount to the Borrower, which must be repaid with interest by a specified due date. The document outlines the terms of repayment, interest rate, prepayment rights, and details what actions may be taken in the event of default, including the potential acceleration of the debt. It includes provisions related to indemnification, restructuring, waiver, assignment, and joint liability, ensuring that the rights and obligations are clear and enforceable for both parties involved. The agreement ensures there is a comprehensive understanding of all terms and conditions related to the loan, thereby providing a legal framework for resolving any disputes that may arise.