Loan Agreement With Pledge
Loan Agreement With Pledge
Loan Agreement With Pledge
) . .
LOAN AGREEMENT
WITH PLEDGE
KNOW ALL MEN BY THESE PRESENTS:
This Agreement made and executed on this _____ day of
April, 2015 in _______________________, by and between:
_______________________, Filipino, of legal age,
married,
with
address
at
______________________________________________,
(hereinafter referred to as the PLEDGEE);
- and _________________________, Filipino, of legal
age,
married,
with
office
address
at
________________________________________,
(hereinafter referred to as the PLEDGOR).
WITNESSETH; That:
THE LOAN
1.
At the request of the PLEDGOR, the PLEDGEE,
had extended a loan in favor of the PLEDGOR, in the
principal sum of TWO MILLION PESOS (P2,000,000.00)
(the LOAN), the full amount of which is acknowledged to
have been fully and duly received by the PLEDGOR.
2.
The PLEDGOR has requested for a SIX (6)
MONTHS term loan, to be paid to the PLEDGEE in periodic
installments, commencing on the THIRTIETH (30 th) day of
the immediately succeeding month, and every THIRTIETH
(30th) day of the month thereafter, together with a
compounded interest at the rate of ONE PERCENT (1%) per
month.
3.
___________________________________________________
6.
The properties herein pledged are all the
properties set forth and particularly described above. The
PLEDGOR further agrees that all shares of stock, if any,
arising from stock splits and reverse splits involving the
Pledged Properties, as well as all stock dividends declared
on the Pledged Properties, and all shares of stock or other
securities arising or derived from the exercise of stock
rights or warrants attributable to the Pledge Properties,
shall form part of the Pledged Properties.
7.
For as long as the LOAN remains outstanding, the
aggregate fair market value of the Pledged Properties shall,
at all times, be equal to at least ONE HUNDRED per cent
(100%) of the value of the remaining unpaid balance of the
LOAN. If at any time, in the opinion of the PLEDGEE, the
fair market value of the Pledged Properties is less than the
outstanding balance, the PLEDGOR shall, upon demand by
the PLEDGEE, pledge, under the terms and conditions set
forth or referred to herein, additional properties of
sufficient quantity and quality acceptable to the PLEDGEE,
such that in the reasonable determination of the PLEDGEE,
the aggregate fair market value of the Pledged Properties
including the additional properties, shall at least be equal to
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with Pledge
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invalidity
or
unenforceability
of
any
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with Pledge
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_____________________
PLEDGOR
____________________________
_____________________________
WITNESS
WITNESS
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
CITY OF
)S.S.
Loan Agreement
with Pledge
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NOTARY PUBLIC
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with Pledge
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