B. Given the amount covered in point (a), the lender agreed to waive the outstanding interest and penalty interest earned under the above loan. This MOU model contains optional clauses (and alternative provisions) from which you can choose. This menu of concept changes can serve as a handy checklist to help you identify, negotiate and record all the items that should be covered by the parties in a comprehensive agreement. Once the agreement has been reached and signed by both parties, you can pass it on to your legal advisors as instructions. Their task of drawing up a final and binding credit guarantee agreement should be quicker and easier if they have such a detailed agreement from which they can work, and I hope that this will result in lower legal fees. This Memorandum of Understanding (MOU) is established on the date of M/Limited, a company with the statutory headquarters of the Companies Act, 1956, who is based in ________Mr. – The borrower has agreed to pay the amount owed under this loan agreement by a one-time payment of all the principal due before – Letter of intent between the lender and the borrower Before using this model, we advise you to read the reflection guide, declarations of intent, declarations of intent and contract sheets in the « Heads of » and « Contract » sub-dossier. These notes address a number of important general issues relating to all statements of intent, thought heads, statements of intent, appointment sheets and similar pre-contract documents. This Memorandum of Understanding (LOAN Guarantee Agreement) (« MOU ») must be signed in the form of an interim document on non-binding terms.
The agreement would then be followed by a detailed and binding definitive credit guarantee agreement, under which the bond will guarantee that the borrower will repay the lender.