personal line of credit agreement template

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provided that borrower is not in default under this agreement or the promissory note, at the maturity date, the borrower, at the borrower’s option may extend and renew this credit line for one additional term of six (6) months. no lender shall not be required to make any advance hereunder unless and until: all of the documents required by such lender, including a promissory note, have been duly executed and delivered to such lender and shall be in full force and effect. no information or report furnished by borrower to lender in connection with the negotiation of this agreement contained any material misstatement of fact or omitted to state a material fact or any fact necessary to make the statements contained therein not misleading.

default by borrower in the observance or performance of any other covenant or agreement contained in this agreement, other than a default constituting a separate and distinct event of default under this paragraph 13.  default by borrower in the observance or performance of any other covenant or agreement contained in any other document or agreement made and given in connection with this agreement, other than a default constituting a separate and distinct event of default under this paragraph 13, and the continuance of the same unremedied for a period of fourteen (14) days after notice thereof is given to borrower. in order to facilitate the security for this credit line the borrower shall issue 100,000 shares in the name of the borrower to be held as security in accordance with a separate pledge agreement (the “pledge agreement”) of even date herewith between the borrower and the lender. this agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same agreement.

all sums advanced on the credit line or pursuant to the terms of this agreement ( each an “advance”) shall become part line of credit agreement. document 2035b . access to this document and the leaplaw web site is it is the intent of the borrower and lender hereunder to create a line of credit agreement between borrower and lender , loan agreement template word, loan agreement template word, personal loan template, secured loan agreement template, loan agreement between individuals.

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