This document is an example of a simple repayment clause where the loan is to be repaid in one lump sum. It is designed to be inserted into a loan agreement. The defined terms in this clause have the same meaning as those in the precedent called “Basic loan agreement”.
Repayment of loans
Loans can be repaid in one lump sum or in a number of instalments. Where the repayment of a loan is to be made in one lump sum, this is usually due to the fact that the borrower is expecting an injection of cash at some stage which will enable the borrower to repay the loan in full on a particular date. The amount of the loan is irrelevant in determining whether to repay the loan in one lump sum.
- Basic loan agreement
- Guarantee of payment of loan
- General security deed
- Amendment and restatement agreement
- Deed of priority
- Forbearance of debt agreement
- Deed of assignment of debt
- Real property mortgage
- Loan agreement checklist
This document has been authored for LexisNexis by Elise Margow, Principal, Legally Speaking.
This document is prepared with the assistance of Specialist Editors Geoff Geha, Partner, Clayton Utz and Karen Lee, Principal and Consultant, Legal Know-How.