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Lend Agreement

Acceleration – A clause in a loan agreement that protects the lender by requiring the borrower to immediately repay the loan (both the principal and all accrued interest) if certain conditions occur. Credit agreements are usually written, but there is no legal reason why a credit agreement should not be a purely oral agreement (although oral agreements are more difficult to enforce). Credit agreements usually contain information about: Language 15.1 English is used in all correspondence and communication between the parties. 15.2 Cumulative Rights All remedies brought by the Lender under this Agreement, whether provided for or granted by law, civil law, customary law, customary law, trade or use, are cumulative and non-alternative and may be applied successively or simultaneously. 15.3 Benefits of the Loan Agreement The loan agreement is binding on each party and its successors or heirs, administrators, and for the benefit of this agreement. The party invoking an event of force majeure must immediately inform the other parties in writing and indicate in full the cause or event and the date of its first occurrence as soon as possible after the event and keep the other parties informed of any further developments. The Party concerned shall do everything in its power to eliminate the cause of the non-performance and the Parties shall resume the performance with the utmost care, in accordance with this Agreement, when such cause has been eliminated. . .

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