The Demand Loan Agreement is a crucial financing instrument in the Indian banking and financial services sector, designed for situations where flexible, short-term funding is required. This document type is particularly useful for businesses seeking working capital or addressing temporary cash flow needs. The agreement must comply with Indian banking regulations, RBI guidelines, and the Indian Contract Act, 1872. It includes essential provisions regarding loan amount, interest calculation, the lender's right to demand repayment, borrower's representations and warranties, and events of default. Unlike term loans, demand loans can be called for repayment at any time, making them both flexible and higher-risk instruments. The agreement typically includes specific provisions for security, if applicable, and must be properly stamped and executed as per Indian law requirements.
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1. Parties: Identifies and defines the Lender and Borrower with complete details
2. Background: Describes the context and purpose of the loan agreement
3. Definitions and Interpretation: Defines key terms used throughout the agreement and rules of interpretation
4. Loan Amount and Purpose: Specifies the loan amount and permitted purpose of the loan
5. Interest and Fees: Details the interest rate, calculation method, and any applicable fees
6. Demand Nature and Repayment: Establishes the lender's right to demand repayment and the mechanism for such demand
7. Conditions Precedent: Lists conditions that must be satisfied before the loan is disbursed
8. Representations and Warranties: Statements of fact and assurances given by the borrower
9. Borrower's Covenants: Ongoing obligations and restrictions on the borrower
10. Events of Default: Lists circumstances that constitute default and their consequences
11. Rights and Remedies: Details the lender's rights and remedies upon default or demand
12. Payments and Calculations: Specifies payment mechanics, calculation conventions, and business day adjustments
13. Notices: Procedures for giving notices under the agreement
14. Governing Law and Jurisdiction: Specifies Indian law as governing law and jurisdiction for disputes
15. Miscellaneous: Standard boilerplate provisions including amendments, waivers, and severability
1. Security: Required when the loan is secured by any assets or properties
2. Guarantee: Required when there are third-party guarantors for the loan
3. Insurance: Required when specific insurance coverage is mandatory for the borrower
4. Special Conditions: Added when there are unique terms specific to the borrower or transaction
5. Assignment and Transfer: Required when either party needs the right to assign the agreement
6. Force Majeure: Optional clause for circumstances beyond parties' control affecting performance
7. Confidentiality: Added when specific confidentiality obligations are required
1. Schedule 1 - Loan Details: Details of loan amount, interest rate, and fee structure
2. Schedule 2 - Conditions Precedent Documents: List of documents required before loan disbursement
3. Schedule 3 - Repayment Schedule: If applicable, any structured repayment plan agreed upon
4. Schedule 4 - Security Details: If secured, details of the security/collateral provided
5. Schedule 5 - Form of Demand Notice: Template for the formal demand notice
6. Schedule 6 - Drawing Notice: Format for requesting loan disbursement
7. Appendix A - Compliance Certificate: Standard format for periodic compliance certification
8. Appendix B - Calculation of Interest: Detailed methodology for interest calculation
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Manufacturing
Real Estate
Trading
Retail
Information Technology
Infrastructure
Healthcare
Education
Agriculture
Small and Medium Enterprises
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Credit
Corporate Banking
Business Development
Company Secretarial
Operations
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Corporate Lawyer
Compliance Officer
Risk Manager
Credit Manager
Relationship Manager
Banking Officer
Finance Manager
Company Secretary
Managing Director
Business Development Manager
Financial Controller
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