Unsecured Loan Agreement Between Two Companies In India

6. At any time, the lender has the option of converting all or part of the outstanding loans and interest into equity by giving the borrowing company a simple request/notification of a potential, whether it is equity or preferences at a price that can be set by the parties in accordance with the applicable laws of the land. Loan contracts generally contain interest information: interest is calculated on the basis of information provided on the website on the amount of the loan paid to the borrower (for reasons of clarity, if the lender partially fulfills the borrower`s commitment, the interest would be calculated for its amount, which would be borrowed, as stated on the website). Preferred lenders of the EMI cheque are deposited into the account designated by the lender until the 7th of each calendar month or, if the 7 is a business day, it is deposited the next business day. If a provision in this agreement proves invalid or unenforceable, the invalid or unenforceable provision is considered to be replaced by a valid enforceable provision that best corresponds to the intent of the original provision, and the rest of the agreement remains in force. While i-lending is an online social lending platform that brings together borrowers and lenders, the entity provides its services in accordance with the terms of the Borrower Registration Agreement and the Lenders Registration Agreement regarding credit/credit transactions carried out on the i-lending website. While a person who creates an account with www.i-lend.in can find an appropriate lender/borrower. Freezing the loan transaction for the borrower or concluding the offer for the lender, as may be the case, fulfills the conditions between the borrower and the lender by concluding this binding agreement. D.1 All disbursements that the borrower is required to pay to the lender as part of or under this agreement are made by a post-given cheque, duly crossed and marked with “only A/C Payee”. D.2.1 The borrower pays the CGV for the duration of the loan at the time of payment of the loan. In the event that it is unable to provide the total number of chequebooks required, it must necessarily provide a PDC for the amount corresponding to the outstanding amount at the end of the period for which the EMI PDCs were granted.

D.2.2 The borrower must obtain the net PCS for the remaining MIM at least one month prior to the likely depletion of the PDO referred to in paragraph 1. It is on this date that the loan will be given to the borrower for the above portion of the outstanding principal. If it is unable to provide net PDCs, it must necessarily indicate a PDC for the amount corresponding to the outstanding amount at the end of the period for which the EMI PDCs were granted. This is repeated until the full amount is refunded. D.3 No communication, warning or privacy is provided to the borrower prior to the presentation of the g.C issued. D.4 The borrower agrees and understands that the non-contribution of PDC through another does not affect, for any reason, the borrower`s liability in repaying the loan. The borrower can pay the loan on that date in advance and there is no penalty for the same. The advance payment may be full or partial. However, the conditions of partial completion are visible on the website and these conditions must be met. Prepayment cheques are only deposited with the ME cheque, whether it is due in the current month or the following month, and interest is calculated per calendar month. An unsecured loan is money lent by one party to another, with no guarantee to ensure repayment. In most cases, these types of loans are considered a bit risky, as the lender generally does not have the ability to compel the borrower to meet the terms or make timely payments without legal action.