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Costs and expenses: All fees herein indicated as well as anything connected with recovery of repayments are for the account of the borrower and may be debited from the borrower’s account(s) .
Payment on demand:
Events of Default: Not withstanding any clause in the agreement to the contrary it shall be open to the Lender to demand repayment by the borrower at any time for any reason whatsoever deemed by the Lender to be an event of default.
Disclosure: The Lender may disclose any information about the Borrower’s Account to any regulatory, supervisory and credit reference bureau, otherwise the Lender will keep information about the borrower confidential.
Pre – condition: Acknowledgement of the facility letter signifying acceptance of the terms Herein stipulated. Establishment, utilization and availability of the facility is also Subject to execution/granting of the security required.
The company however, reserves the right to withdraw the offer herein above without prior notice if not accepted within 3 (three) days of the date hereof.
THIS LOAN AGREEMENT is made BETWEEN
TOPLINE INVESTMENTS LIMITED of Plot 108, Bukoto Street, Kamwokya P.O Box 8850 Kampala (Hereinafter referred to as the “LENDER” which expression shall where the context so admits include its legal representatives, successors in title and assigns in title) of the other part; AND THE APPLICANT “(Herein after referred to as the “BORROWER” which expression shall where the context so admits, include its / assignees and successors in title whether derivative or immediate)
being owner of land and or the chattels mentioned in the schedule to this instrument (where a schedule is necessary).
WHEREAS;
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
I, the above named Borrower, certify that I have read and understood the terms and conditions of this Loan Agreement, which will fully be explained to me, and I do hereby confirm that I shall abide such terms.