A contract between a borrower and a lender detailing the conditions for a loan.
they made a loan agreement for 20 per cent interest
Example sentencesExamples
- She was subsequently instructed to draft the second loan agreement.
- The new loan agreement was reached last month and the debt restructuring was completed last week.
- Failing to file accounts would normally result in the default of a loan agreement, according to bank sources.
- A loan agreement was signed for the amount of 41.5 million euros for the construction of the new runway system.
- The danger of the domino effect leading to default under all the borrower's loan agreements is obvious.
- He had entered into a loan agreement with Mr Watson's company.
- Consumers are effectively trapped in loan agreements, because even if they find a better deal they cannot afford to change finance companies.
- The two largest parties signed off on a loan agreement that makes the country a ward of its creditors.
- The auditors demanded a formal loan agreement.
- The company's five directors are in court defending allegations the half-year accounts did not disclose it was in breach of its loan agreement.