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Simple Note Payable Agreement
"I need a Simple Note Payable Agreement under Singapore law for a $50,000 business loan to be repaid in monthly installments over 24 months, starting from March 2025, with a fixed interest rate of 5% per annum."
1. Parties: Identifies the lender and borrower with full legal names and addresses
2. Background: Brief context of the loan arrangement
3. Definitions: Key terms used in the agreement
4. Principal Amount: States the amount being borrowed
5. Interest Rate: Specifies the applicable interest rate
6. Repayment Terms: Details of how and when the loan will be repaid
7. Execution: Signature blocks and date of agreement
1. Security: Details of any collateral, use when loan is secured
2. Events of Default: Circumstances constituting default, recommended for larger loans
3. Early Repayment: Terms for early repayment, include if permitted
4. Assignment: Rights to assign the note, include if transferability is desired
1. Repayment Schedule: Detailed payment schedule if installment payments are planned
2. Security Details: Description of security/collateral if applicable
3. Calculation of Interest: Detailed interest calculation method if complex
Authors
Interest
Payment Terms
Repayment Schedule
Default
Remedies
Security
Representations and Warranties
Notices
Assignment
Governing Law
Jurisdiction
Amendments
Severability
Entire Agreement
Force Majeure
Waiver
Early Repayment
Default Interest
Costs and Expenses
Currency
Time of Essence
Counterparts
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