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Founder Loan Agreement
"Need a Founder Loan Agreement under Singapore law for a S$500,000 loan from me to my tech startup, with quarterly interest payments and the option to convert to equity after 18 months if certain revenue targets are met by March 2025."
1. Parties: Identification of the company and the founder providing the loan
2. Background: Context of the loan and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the loan amount and its intended use
5. Interest Rate: Terms of interest payment and calculation method
6. Repayment Terms: Schedule and method of repayment
7. Events of Default: Circumstances constituting default and consequences
8. Representations and Warranties: Standard declarations by both parties
1. Security: Details of any collateral or security provided for the loan
2. Conversion Rights: Terms and conditions for converting the loan to equity
3. Board Approval: Specific requirements for corporate approvals and governance
4. Subordination: Provisions regarding ranking of loan against other company debt
1. Repayment Schedule: Detailed schedule of repayment dates and amounts
2. Form of Draw Down Notice: Template for requesting loan disbursements
3. Security Documents: Details of any security or collateral arrangements
4. Corporate Authorizations: Copies of relevant board/shareholder resolutions
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