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Repayment Plan Agreement
"I need a Repayment Plan Agreement for a business loan of SGD 250,000, to be repaid over 36 months starting from January 2025, with monthly installments and a requirement for personal guarantees from two company directors."
1. Parties: Identification of creditor and debtor with full legal names and addresses
2. Background: Description of the original debt and circumstances leading to the repayment plan
3. Definitions: Key terms used throughout the agreement
4. Repayment Terms: Detailed payment schedule, amounts, and frequency of payments
5. Interest Calculations: Method of calculating interest, if applicable
6. Default Provisions: Consequences of missing payments or breaching the agreement
7. Governing Law: Specification of Singapore law as governing law
1. Security Provisions: Details of any collateral or security provided - use when the debt is secured by assets
2. Guarantor Provisions: Terms relating to any guarantors of the debt - use when a third party guarantees the debt
3. Early Repayment: Terms for early settlement of the debt - use when early repayment is permitted
4. Insurance Requirements: Any mandatory insurance coverage - use when insurance is required to secure the debt
1. Payment Schedule: Detailed breakdown of payment dates and amounts
2. Original Debt Documentation: Copies of original loan agreements or debt instruments
3. Security Documents: Details of any security arrangements
4. Statement of Account: Current debt balance and payment history
Authors
Business Day
Commencement Date
Confidential Information
Default Event
Default Interest Rate
Early Repayment
Effective Date
Event of Default
Final Payment Date
Interest Rate
Installation Amount
Late Payment Fee
Original Debt
Outstanding Balance
Payment Date
Payment Schedule
Parties
Principal Amount
Repayment Period
Repayment Schedule
Security
SGD
Term
Total Debt Amount
Repayment Terms
Payment Schedule
Interest
Default
Acceleration
Security
Representations and Warranties
Undertakings
Early Repayment
Force Majeure
Notices
Assignment
Confidentiality
Data Protection
Amendment
Severability
Entire Agreement
Third Party Rights
Governing Law
Dispute Resolution
Counterparts
Costs
Set-off
Waiver
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