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Agreement which defines the terms and conditions of a loan between a lender and borrower. This includes the loan amount, interest rate, repayment schedule and Financial Covenants (if any) amongst others.
What is a senior agreement?
The senior contract is a contract with the school that seniors sign to stay on course for graduation.
What is a senior facility?
Senior living, or seniors housing, is a group of housing options that cater to the lifestyle and care needs of senior citizens. These options, ordered from more lifestyle focused to more care focused, include independent living, assisted living, memory care, and skilled nursing facilities (nursing homes).
What is the difference between a loan agreement and a facility agreement?
A loan agreement is regarded as a contract res (contrat rel) that is, a contract which can only be entered into if the lender effectively transfers the funds to the borrower, while a facility agreement is a mere promise of a loan, in other words a promise to transfer the funds to the borrower on his request, the
What is the purpose of a facility agreement?
Conditions precedent A facility agreement usually sets out detailed conditions a borrower is required to fulfil prior to a lender advancing any funds. Certain conditions may apply to the initial drawing, and other conditions to subsequent drawings under a facility.
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Types of agreements under Indian Contract Act, 1872 Valid agreement. Section 11 of the Indian Contract Act, 1872. Void agreement. Section 24 of the Indian Contract Act, 1872. Wagering Agreements. Contingent Agreement. Voidable agreement. Express and implied agreements. Illegal Agreements.
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