The Loan Agreement With Guarantor is a crucial financial instrument used in Indian lending practices when additional security is required beyond the borrower's primary commitment. This document is commonly utilized when the borrower's creditworthiness alone may not meet lending criteria, or when the lender seeks extra assurance for loan recovery. The agreement, governed by Indian law, particularly the Indian Contract Act 1872 and related banking regulations, creates a three-way relationship between the lender, borrower, and guarantor. It's essential for both commercial and personal lending, providing detailed terms for the loan facility, repayment obligations, and the guarantor's responsibilities. The document typically includes comprehensive provisions for interest calculations, default scenarios, enforcement mechanisms, and the specific circumstances under which the guarantor's liability may be invoked.
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1. Parties: Identifies the Lender, Borrower, and Guarantor with their full legal names and addresses
2. Background: Explains the context of the loan and guarantee arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Loan Amount and Purpose: Specifies the principal amount and intended use of the loan
5. Interest Rate and Calculations: Details the interest rate, calculation method, and payment frequency
6. Repayment Terms: Outlines the repayment schedule, installment amounts, and payment methods
7. Guarantor's Obligations: Defines the scope and nature of the guarantee, including the guarantor's specific commitments
8. Representations and Warranties: States the facts and assurances provided by each party
9. Events of Default: Lists circumstances that constitute default and their consequences
10. Rights and Remedies: Specifies the rights of parties upon default or breach
11. Notices: Details how formal communications between parties should be made
12. Governing Law and Jurisdiction: Specifies Indian law as governing law and relevant jurisdiction
13. Miscellaneous: Includes standard boilerplate provisions like severability, entire agreement, etc.
1. Security: Include when the loan is secured by specific assets or collateral
2. Insurance: Include when insurance is required for secured assets or borrower's life
3. Prepayment Provisions: Include when early repayment terms and penalties need to be specified
4. Additional Guarantors: Include when multiple guarantors are involved
5. Special Conditions: Include when there are specific conditions precedent to disbursement
6. Step-in Rights: Include when lender needs right to take control in specific circumstances
7. Assignment and Transfer: Include when rights to assign or transfer the loan need to be specified
8. Financial Covenants: Include for business loans requiring maintenance of financial ratios
9. Demand Loan Provisions: Include when loan is repayable on demand
1. Schedule 1 - Loan Details: Detailed breakdown of loan amount, interest calculations, and repayment schedule
2. Schedule 2 - Security Details: Description of any security or collateral provided
3. Schedule 3 - Conditions Precedent: List of documents and conditions required before loan disbursement
4. Schedule 4 - Representations and Warranties: Detailed representations and warranties of each party
5. Schedule 5 - Payment Schedule: Amortization table showing payment dates and amounts
6. Appendix A - Form of Disbursement Request: Standard format for requesting loan disbursement
7. Appendix B - Compliance Certificate: Template for periodic compliance certification
8. Appendix C - Guarantee Deed: Detailed terms of the guarantee if separate from main agreement
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate
Commercial Lending
Microfinance
Small Business
Corporate Finance
Agriculture
Manufacturing
Retail
Education
Healthcare
Infrastructure
Housing Finance
Relevant Teams
Legal
Finance
Risk Management
Compliance
Credit Assessment
Loan Administration
Collections
Documentation
Corporate Banking
Retail Banking
Operations
Relevant Roles
Chief Financial Officer
Legal Counsel
Finance Manager
Credit Risk Officer
Loan Officer
Compliance Manager
Banking Relationship Manager
Corporate Lawyer
Financial Analyst
Credit Administrator
Risk Assessment Manager
Documentation Specialist
Branch Manager
Underwriter
Collections Manager
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