The Simple Loan Note Agreement is a fundamental legal instrument used in Malaysia for documenting loan arrangements between parties. This document is particularly useful for straightforward lending transactions where detailed facility agreements may be unnecessary. It combines essential elements required under Malaysian law with practical commercial terms, making it suitable for both corporate and individual lending scenarios. The agreement must comply with Malaysian legislation, including the Contracts Act 1950, Moneylenders Act 1951, and Financial Services Act 2013, while remaining accessible and clear for all parties involved. It typically includes key provisions for loan amount, interest calculations, repayment terms, events of default, and enforcement mechanisms, with optional provisions for security and guarantees when required.
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1. Parties: Identification of the Lender and Borrower with full legal names and addresses
2. Background: Brief context of the loan arrangement and purpose
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the principal amount and stated purpose of the loan
5. Interest: Interest rate, calculation method, and payment terms
6. Repayment Terms: Schedule of repayment, including payment dates, amounts, and method of payment
7. Representations and Warranties: Basic statements of fact and promises made by the Borrower
8. Events of Default: Circumstances that constitute default and consequences
9. Notice Requirements: How and where notices between parties must be given
10. Governing Law: Specification of Malaysian law as governing law and jurisdiction
11. Execution: Signature blocks and execution requirements
1. Security: Include when the loan is secured by any assets or guarantees
2. Guarantor Provisions: Include when there is a guarantor for the loan
3. Early Repayment: Include when early repayment is permitted with specific terms
4. Assignment: Include when either party may need to transfer their rights under the agreement
5. Insurance Requirements: Include when specific insurance must be maintained by the Borrower
6. Conditions Precedent: Include when the loan is subject to certain conditions being met before drawdown
7. Covenants: Include when ongoing obligations or restrictions are imposed on the Borrower
1. Repayment Schedule: Detailed breakdown of payment dates and amounts
2. Security Details: Description of any assets or collateral securing the loan
3. Conditions Precedent Checklist: List of documents and conditions required before loan disbursement
4. Form of Drawdown Notice: Standard form for requesting loan disbursement
5. Form of Guarantee: Standard form of guarantee when applicable
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Financial Services
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Small and Medium Enterprises
Real Estate
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Legal
Finance
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Credit Risk
Compliance
Corporate Secretarial
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Chief Financial Officer
Finance Director
Financial Controller
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Corporate Lawyer
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Company Director
Financial Analyst
Risk Manager
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