BRIDGE AGREEMENT
This Bridge Agreement is entered into the [insert date] between XXX, a Delaware corporation located at XXX (the “Company”) and XXX whose address for the purposes of this agreement is XXX
XXX (the “Client”). The Company and the Client are sometimes
individually referred to as a “Party” and collectively as the “Parties”.
WITNESSETH:
WHEREAS, the Company is an Investment Company that deals with Crypto and stock
investment; and
WHEREAS, the company was formally known as XXX INVESTMENT LTD, whereupon by
change of company details and purchase deed dated [insert date of purchase of the
company by you] the company changed its name as well as the directors to the current
name XXX STOCKBROKERS LTD, retaining all liabilities and profits at the time of the
change of name; and
WHEREAS, the client had taken up an investment loan with KKT Investment LTD and
defaulted, in paying 3 percent of the investment which amounted to Seventeen thousand Six
Hundred & Thirty-four dollars ($17,634.00) amount owed to the said KKT Investment LTD,
now under new management and known as XXX STOCKBROKERS LTD; and
NOW, THEREFORE, in consideration of the representations, warranties, covenants and
agreements herein contained, the receipt and adequacy of which is hereby acknowledged
and accepted, the Parties hereby agree as follows:
1. PROMISE TO PAY. Client hereby unconditionally promises to pay to Company, the
outstanding principal amount of all amounts owed to KKT Investment LTD and
accrued and unpaid interest thereon as and when due in accordance with this
Agreement. The said principal amounts to Seventeen thousand Six Hundred &
Thirty-four dollars ($17,634.00).
2. LOAN REPAYMENT TERMS.
Client will make payment(s) of the amounts stated in 1 above according to the
following schedule:
i. $[insert amount] on or before [insert date],
ii. [expound on the repayment schedule]
3. METHOD OF LOAN PAYMENT.
The BORROWER shall make all payments called for under this Bridge agreement by
sending check or other negotiable instrument or as may be advised by the company,
made payable to the following individual or entity at the address indicated:
XXX STOCKBROKERS LTD,
XXX, 1ST & 2ND FLOOR,
XXX
If LENDER gives written notice to BORROWER that a different address shall be used
for making payments under this loan agreement, BORROWER shall use the new
address so given by LENDER.
4. DEFAULT.
The occurrence of any of the following events shall constitute a Default by the Client
of the terms of this Bridge agreement and promissory note:
i. Client’s failure to pay any amount due as principal or interest on the date
required under this loan agreement.
ii. Client seeks an order of relief under the Federal Bankruptcy laws.
iii. A federal tax lien is filed against the assets of Client.
5. CURE OF DEFAULT. Upon default, Company shall give Client written notice of
default. Mailing of written notice by Company to Client via email or letter shall
constitute prima facie evidence of delivery. Client shall have 10 days after receipt of
written notice of default from Company to cure said default. In the case of default
due solely to Client’s failure to make timely payment as called for in this Bridge
agreement, Client may cure the default by either: (i) making full payment of any
principal and accrued interest (including interest on these amounts) whose payment
to Client is overdue under the Bridge agreement and, also, the late-payment penalty
described below; or (ii) release collateral to Company.
6. PENALTY FOR LATE PAYMENT. There shall also be imposed upon Client a 2%
penalty for any late payment computed upon the amount of any principal and
accrued interest whose payment to Company is overdue under this Bridge
agreement and for which Company has delivered a notice of default to Client.
7. INDEMNIFICATION OF ATTORNEYS FEES AND OUT-OF-POCKET
COSTS. Should any party materially breach this agreement, the non-breaching party
shall be indemnified by the breaching party for its reasonable attorneys’ fees and out-
of-pocket costs which in any way relate to, or were precipitated by, the breach of this
agreement. The term “out-of-pocket costs”, as used herein, shall not include lost
profits. A default by Client’s which is not cured within 15 days after receiving a
written notice of default from Company constitutes a material breach of this
agreement by Client.
8. PARTIES THAT ARE NOT INDIVIDUALS. If any Party to this agreement is other
than an individual (i.e., a corporation, a Limited Liability Company, a Partnership, or a
Trust), said Party, and the individual signing on behalf of said Party, hereby
represents and warrants that all steps and actions have been taken under the entity’s
governing instruments to authorize the entry into this Loan Agreement. Breach of
any representation contained in this paragraph is considered a material breach of the
Loan Agreement.
9. INTEGRATION. This Agreement, including the attachments mentioned in the body
as incorporated by reference, sets forth the entire agreement between the Parties
with regard to the subject matter hereof. All prior agreements, representations and
warranties, express or implied, oral or written, with respect to the subject matter
hereof, are superseded by this agreement. This is an integrated agreement.
10. SEVERABILITY. In the event any provision of this Agreement is deemed to be void,
invalid, or unenforceable, that provision shall be severed from the remainder of this
Agreement so as not to cause the invalidity or unenforceability of the remainder of
this Agreement. All remaining provisions of this Agreement shall then continue in full
force and effect. If any provision shall be deemed invalid due to its scope or breadth,
such provision shall be deemed valid to the extent of the scope and breadth
permitted by law.
11. MODIFICATION. Except as otherwise provided in this document, this agreement
may be modified, superseded, or voided only upon the written and signed agreement
of the Parties. Further, the physical destruction or loss of this document shall not be
construed as a modification or termination of the agreement contained herein.
12. EXCLUSIVE JURISDICTION FOR SUIT IN CASE OF BREACH.
The Parties, by entering into this agreement, submit to jurisdiction in [insert
country/state] for adjudication of any disputes and/or claims between the Parties
under this agreement. Furthermore, the Parties hereby agree that the courts of State
of Pennsylvania shall have exclusive jurisdiction over any disputes between the
parties relative to this agreement, whether said disputes sounds in contract, tort, or
other areas of the law.
13. STATE LAW.
This Agreement shall be interpreted under, and governed by, the laws of the [insert
country/state].
IN WITNESS WHEREOF and acknowledging acceptance and agreement of the
foregoing, Company and Client affix their signatures hereto.
/s/_________________________
[insert name of your company]
[insert representative’s name]
[date]
/s/_________________________
[insert name of Client]
[date]
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )