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Facility Agreement

Dated: FACILITY AGREEMENT DATE

To:

BORROWER ,

BORROWER ADDRESS

Re: Secured Loan Facility

Borrower: BORROWER

Guarantor: GUARANTOR REQUIREMENT

Name: GUARANTOR NAME

Address GUARANTOR ADDRESS

Name: GUARANTOR 2 NAME

Address: GUARANTOR 2 ADDRESS

Purpose: The Business Purpose Of: PURPOSE

GENERAL CONDITIONS

1. Definitions and interpretation - in the Facility Agreement, which includes these General Conditions, the following words and phrases shall have the following meanings:
   1. ‘Borrower’ means the person(s) named as borrowers on page 1 of this Facility Agreement and includes all persons deriving title under you. Where there is more than one Borrower, your liability under this Loan Agreement is joint and several.
   2. 'Concessionary Rates’: the interest rates reduced from the Standard Rate and applicable for the periods of time stated on page 1 of this Facility Agreement, subject to Conditions 3.3 – 3.7
   3. ‘Default Payment Charge’: the amount payable by the Borrower to the Lender under Condition 17 for each failure to pay monthly interest on any of the Interest Payment Days and calculated as:
      1. If more than 14 days but less than one month late: £40.00; and
      2. If one month or more late: £80.00 per month, payable for each month in which the payment is due but unpaid in any part of that month.
   4. ‘Event of Default’: as defined in Condition 11.
   5. ‘Facility Agreement’: the agreement setting out our offer of a Loan, including these General Conditions
   6. 'Guarantee': the guarantee of the Guarantor (if any) named above in favour of the Lender set out in Condition 8 of this Facility Agreement and the written Guarantee in the form required by the Lender,
      1. The Guarantor shall act in their own capacity;
      2. The additional Guarantor shall in their own capacity; and
      3. The Guarantee shall be indefinite.
   7. ‘Insurance Default Charge’: the amount (excluding any insurance premium, plus any other sum incurred by the Lender in placing on risk and maintaining such an insurance policy) payable by the Borrower/Guarantor in the event the Lender is obliged to effect insurance for the Property, or any security given by the Guarantor, due to the default of the Borrower/Guarantor,