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Forgivable Loan Agreement
1. Parties: Identification of the lender and borrower with full legal names and addresses
2. Background: Context of the loan agreement, relationship between parties, and purpose of the forgivable loan
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Disbursement: Specification of the loan amount, currency, and disbursement terms
5. Interest: Interest rate terms, calculation method, and payment schedule
6. Repayment Terms: Schedule and methods of repayment, including any installment arrangements
7. Forgiveness Conditions: Detailed conditions under which the loan may be forgiven, including milestones, timelines, and verification processes
8. Borrower's Representations and Warranties: Statements of fact and assurances made by the borrower
9. Borrower's Obligations: Ongoing duties and responsibilities of the borrower during the loan term
10. Events of Default: Circumstances that constitute default and their consequences
11. Remedies: Rights and actions available to the lender in case of default
12. Notices: Methods and requirements for formal communications between parties
13. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes
14. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments
1. Security: Required when the loan is secured by collateral or guarantees
2. Tax Provisions: Detailed tax implications of loan forgiveness, required when tax consequences need specific addressing
3. Reporting Requirements: Include when regular financial or performance reporting is required to monitor forgiveness conditions
4. Assignment and Transfer: Include when either party needs the right to assign or transfer their rights under the agreement
5. Confidentiality: Required when sensitive information will be shared during the loan term
6. Insurance Requirements: Include when specific insurance coverage is required from the borrower
7. Early Repayment: Include when early repayment options need to be specifically addressed
8. Force Majeure: Include when specific events beyond parties' control need to be addressed regarding forgiveness conditions
1. Repayment Schedule: Detailed schedule of repayment dates and amounts
2. Forgiveness Milestones: Specific metrics, targets, or conditions that trigger loan forgiveness
3. Disbursement Schedule: If the loan is disbursed in tranches, details of timing and conditions
4. Required Documentation: List of documents required for verifying forgiveness conditions
5. Reporting Templates: Standard forms for required periodic reporting
6. Security Details: If applicable, detailed description of any collateral or security arrangements
7. Key Personnel: If relevant to forgiveness conditions, list of key personnel and their roles
8. Compliance Certificate: Template for periodic certification of compliance with forgiveness conditions
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