LOAN AGREEMENT

LOAN AGREEMENT

THIS AGREEMENT is hereby entered into on this ………………day of …….……………. Two Thousand and ……………………………

BETWEEN

1.XXX LLC, with a business address at XXX WY (referred to as the “Lender”),

 AND

  1. XXX, residing at [Address] (referred to as the “Borrower”)
  2. LOAN AMOUNT AND PURPOSE:

3.1 The Borrower acknowledges receipt of the Loan amount of $5,500 from the Lender on [Date].

  1. LOAN TERMS:

4.1 The Loan shall be repaid in 24 equal installments of $229.16 each, payable on the 1st day of each month, commencing from September 1st and continuing until the entire Loan amount and any applicable interest are fully repaid.

4.2 The Borrower shall make the monthly payments via [specified payment method], and all payments shall be applied first to any outstanding fees, charges, and interest, with the remainder applied to the principal amount.

4.3 The Lender reserves the right to adjust the repayment schedule or request early repayment in the event of a material change in the Borrower’s financial situation.

  1. PREPAYMENT:

5.1 The Borrower may prepay the Loan, in whole or in part, at any time without incurring any prepayment penalties. In the case of partial prepayment, the monthly installments will be recalculated based on the remaining outstanding balance.

  1. SECURITY:

6.1 As security for the repayment of the Loan, the Borrower shall provide the Lender with collateral in the form of [description of collateral]. The Borrower represents and warrants that they have full rights and ownership of the collateral and that it is free from any liens or encumbrances.

6.2 The Borrower shall maintain the collateral in good condition throughout the Loan term and shall not transfer, sell, or otherwise encumber the collateral without the Lender’s prior written consent.

  1. GUARANTOR:

7.1 [If applicable] The Borrower agrees that [Name of Guarantor], residing at [Address], shall act as a guarantor for this Loan. The Guarantor shall sign a separate guarantee agreement (the “Guarantee Agreement”) with the Lender. The Guarantor acknowledges and agrees that:

7.2 The Guarantor’s obligation under the Guarantee Agreement is to guarantee the full and prompt repayment of the Loan by the Borrower in accordance with the terms and conditions of this Agreement.

7.3 The Guarantor shall remain employed at Falcon Trading Systems LLC during the entire Loan term. In the event that the Guarantor quits their job at Falcon Trading Systems LLC, the Lender may, at its discretion, declare the total outstanding Loan amount, including interest and any applicable fees, as immediately due and payable.

  1. DEFAULT:

8.1 The Borrower shall be considered in default if:

  1. The Borrower fails to make any installment payment within [grace period] days from the due date.
  2. The Borrower breaches any other terms and conditions of this Agreement.
  3. The guarantor quits their job at Falcon Trading Systems, if applicable.

8.2 In the event of default, the Lender shall provide written notice to the Borrower, specifying the default and providing a [reasonable cure period] to rectify the default, if applicable.

  1. REMEDIES ON DEFAULT:

9.1 Upon default, the Lender shall have the following rights and remedies:

  1. Acceleration: The Lender may declare the entire outstanding Loan amount, including interest, as immediately due and payable.
  2. Collateral: If applicable, the Lender may exercise its rights to take possession and sell the collateral to recover the outstanding debt. The proceeds from the sale shall be applied to the outstanding Loan balance first, with any excess returned to the Borrower.
  3. Legal Action: The Lender may pursue any legal action permitted by law to recover the Loan amount and any associated costs, including attorney’s fees and collection costs.
  4. DISPUTE RESOLUTION MECHANISM:

10.1 In the event of any dispute arising out of or relating to this Agreement, the Parties agree to first attempt to resolve the matter amicably through mediation. If mediation does not result in a resolution, the dispute shall be settled through binding arbitration in accordance with the rules of the American Arbitration Association. The costs of mediation and/or arbitration shall be borne by the party initiating the dispute.

  1. GOVERNING LAW AND JURISDICTION:

11.1 This Agreement shall be governed by and construed in accordance with the laws of the State of Wyoming.

11.2 Any disputes arising under or in connection with this Agreement shall be resolved through arbitration in Wyoming, in accordance with the rules of the American Arbitration Association. The award rendered by the arbitrator shall be final and binding on both parties.

  1. NOTICES:

12.1 Any notice required or permitted to be given under this Agreement shall be in writing and delivered personally, sent by certified mail, or by a reputable overnight courier service to the addresses of the parties as stated in this Agreement.

  1. ENTIRE AGREEMENT:

13.1 This Agreement constitutes the entire understanding and agreement between the parties concerning the Loan and supersedes all prior and contemporaneous agreements, whether oral or written.

  1. COUNTERPARTS:

14.1 This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

  1. SEVERABILITY:

15.1 If any provision of this stipulation is found to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect to the fullest extent permitted by law.

  1. AMENDMENT:

16.1 No modification or amendment of this Agreement shall be valid or binding unless it is in writing and duly executed by all parties hereto.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

Signed by or on behalf of:

THE UNDERSIGNED HAVE READ, FULLY UNDERSTOOD AND BY SIGNING

LENDER                                                           BORROWER

NAME:                                                                        NAME:

XXX  LLC            XXX

SIGNATURE:                                                              SIGNATURE:

_______________________________                  _________________________

DATE:                                                   DATE:

_______________________________                      _________________________

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