RELEASE OF LOAN
This Release of Loan Deed ("this Deed") is dated this _________________
BETWEEN
The Lender:
________
of the following address:
________
AND
The Borrower:
________
of the following address:
________
BACKGROUND
(1) The Lender lent a sum of $________ (________) to the Borrower ("the Loan") under an Agreement dated ________ a copy of which is attached ("the Agreement").
(2) The Borrower has complied with the Borrower's obligations for repayment of the Loan and any accrued interest under the Agreement.
(3) The Lender intends to release the Borrower from any of the Borrower's obligations under the Agreement.
(4) In consideration for the full repayment of the Loan and any accrued interest by the Borrower, and the agreements and covenants set out in this Deed, the Lender and the Borrower agree as follows:
(1) DEFINITIONS
"Agreement" means the Agreement dated ________ a copy of which is attached to this Deed.
"Borrower" means ________.
"Business Day" means a day which is not a Saturday, Sunday or public holiday in New South Wales.
"Deed" means this Deed of Release.
"Deed Date" means _________________
"Loan" means the loan of $________ (________) from the Lender to the Borrower under the Agreement.
"Lender" means ________.
"Parties" means parties to this Deed.
"Party" means a party to this Deed.
(2) INTERPRETATION
In this Deed, unless the context otherwise requires, the following rules of interpretation shall apply:
(a) Words referring to one gender include every other gender.
(b) Words referring to a singular number include the plural, and words referring to a plural include the singular.
(c) If a word or phrase is defined in this Deed then any grammatical variations of that word or phrase have a corresponding meaning.
(d) Words referring to a person or persons include firms, corporations, associations, partnerships, joint ventures, authorities, government bodies, organisations and other legal entities, and vice versa.
(e) Any reference to time is a reference to time in New South Wales.
(f) In the event that something must be done under this Deed on or before a particular date, if that date falls on a day which is not a Business Day, then that thing must be done on or before the next Business Day.
(g) Any obligation on a Party not to do something includes an obligation not to allow that thing to be done.
(h) Headings and titles are included in this Deed for convenience only and shall not affect the interpretation of this Deed.
(i) A reference to legislation or any part or provision of that legislation includes any subordinate legislation, any amended legislation, and any substituted legislation issued under that legislation.
(j) A reference to an agreement or document is a reference to that agreement or document as amended, replaced, supplemented or novated from time to time.
(k) A reference to a Party also includes that Party's successors, assigns, legal personal representatives and/or any person that is substituted by way of novation.
(l) Any reference to money or currency, unless otherwise specified, is a reference to Australian dollars.
(3) RELEASE
In consideration for the full payment of the Loan and any accrued interest by the Borrower, and the agreements and covenants set out in this Deed, and except as otherwise required by law, the Lender hereby irrevocably and unconditionally releases and discharges the Borrower, together with any officers, employees, directors, agents, contractors, assignees, successors or other representatives of the Borrower, from any and all claims, debts, demands, suits, actions, proceedings or other liabilities whatsoever (including any costs whether legal or otherwise) which the Lender may have or may at any time incur against the Borrower or any officers, employees, directors, agents, contractors, assignees, successors or other representatives of the Lender (whether directly or indirectly) in connection with the Loan or the Agreement.
(4) SUFFICIENCY OF PAYMENT
The Lender hereby acknowledges the receipt of and the sufficiency of the Borrower's repayment of the Loan as consideration.
(5) 888 58 2585858 28885585825
552 2552828 525282 252528882 52522 2552 2588 8225 252 82 2825525 58 5 2588 525 82228222 5222282 22 522 885828, 52828, 5225258, 85828, 5828228, 25282258228 25 22525 88588882828 2552 522 22525 25522 22 2588 8225 (25 522 22288258, 222822228, 585282258, 522228, 82225582258, 588822228, 8588288258 25 22525 522528222528828 22 522 22525 25522 22 2588 8225) 252 255852 52 522 2822 82 52852822 22 252 2252 25 252 825222222.
(6) WARRANTIES REGARDING LEGAL ADVICE
(a) Each Party, (which for the purposes of this clause shall be referred to as the "Warranting Party" as the context requires) hereby respectively warrants:
(I) the Warranting Party fully understands the terms of this Deed.
(II) the Warranting Party has had the opportunity to obtain independent legal advice in relation to the matters addressed by this Deed and the Warranting Party has either:
(A) taken such independent legal advice; or
(B) elected not to take such independent legal advice.
(III) the Warranting Party has not been induced to enter this Deed by any representation(s) made by the other Party or by any officer, employee, director, agent, contractor, assignee, successor or other representative, except as provided in this Deed.
(b) This clause will survive termination or expiration of this Deed.
(7) CONFIDENTIALITY
(a) Subject to this clause, the Parties each respectively hereby agree to keep the provisions of this Deed confidential.
(b) Notwithstanding the preceding sub-clause hereof, the Parties may disclose any details of this Deed ("Details"):
(I) to their respective legal or financial advisors ("Advisors") provided that the Party disclosing the Details to any such Advisors first ensures that those Advisors are legally bound to keep the Details confidential on terms at least as onerous as those contained in this Deed; or
(II) as otherwise required by law, by court order, or by the requirement of any stock exchange or regulatory authority.
(c) This clause will survive termination or expiration of this Deed unless the Parties agree otherwise in writing.
(8) ENTIRE AGREEMENT
In relation to the subject matter of this Deed, this Deed constitutes the entire agreement between the Parties and supersedes any prior or contemporaneous understandings, whether written or oral.
(9) LEGAL COSTS
Each Party must pay its own legal costs of and incidental to this Deed.
(10) GENERAL PROVISIONS
(a) GOVERNING LAW: This Deed shall be governed in all respects by the laws of New South Wales and any applicable federal law. Both Parties consent to jurisdiction under the state and federal courts within New South Wales.
(b) LANGUAGE: All communications made or notices given pursuant to this Deed shall be in the English language.
(c) AMENDMENTS: This Deed may only be amended in writing signed by both Parties.
(d) RIGHTS, REMEDIES AND POWERS: Unless expressly provided in this Deed, any rights, remedies or powers which a Party acquires under this Deed are cumulative and apply in addition to any rights, remedies or powers which that Party may otherwise have. Unless expressly provided in this Deed, nothing in this Deed shall in any way reduce, extinguish, postpone, restrict or otherwise limit any right, remedy or power which that Party may have.
(e) SURVIVAL OF OBLIGATIONS: At the termination or expiration of this Deed, any provisions of this Deed which would by their nature be expected to survive termination or expiration shall remain in full force and effect, including but not limited to any provisions which are explicitly stated to survive termination and/or expiration.
(f) NO WAIVER: None of the powers or rights created under the terms of this Deed shall be deemed to have been waived by any act or acquiescence of either Party. A power or right under the terms of this Deed may only be waived in writing, signed by the Party that is waiving the said power or right. No waiver of any power or right under a term of this Deed shall constitute a waiver of any other power or right or of the same power or right on a future date. Failure of either Party to enforce any term of this Deed shall not constitute waiver of such term or any other term.
(g) SEVERABILITY: If any provision or term of this Deed is held to be unenforceable, then this Deed will be deemed amended to the extent necessary to render the otherwise unenforceable provision, and the rest of the Deed, valid and enforceable. If a court declines to amend this Deed as provided herein, the invalidity or unenforceability of any provision of this Deed shall not affect the validity or enforceability of the remaining terms and provisions, which shall be enforced as if the offending term or provision had not been included in this Deed.
(h) 885855828855: 5588 8225 252 82 25285225 82 825222525528, 588 22 85885 85588 8228282522 5 882282 525222222. 52 252 55228 822 22525 52 252 225 22 2588 52852222 552 582225222, 2588 8225 88 22 82 8228852525 222282882 58 22 252 5522 2552 8225 2552828 5582 882225 252 525222222, 85885 252 82 252 85225 5522.
(i) FORCE MAJEURE/EXCUSE: Neither Party is liable to the other for any failure to perform due to causes beyond its reasonable control including, but not limited to, acts of God, acts of civil authorities, acts of military authorities, riots, embargoes, acts of nature and natural disasters, labour or transportation disputes, and other acts which may be due to unforeseen circumstances.
(j) FURTHER ACTS: Each Party must, and must ensure that its directors, employees, officers, agents, representatives and contractors do all things and sign, execute and deliver all documents, agreements and instruments as reasonably required in order to give effect to this Deed and to the rights and obligations of the Parties created under this Deed.
EXECUTED AS A DEED THIS ________
Signed Sealed and Delivered by ________:
____________________________________
________
In the presence of:
____________________________________
Witness Signature
____________________________________
Witness Name
____________________________________
Witness Occupation
____________________________________
____________________________________
Witness Address
Signed Sealed and Delivered by ________:
____________________________________
________
In the presence of:
____________________________________
Witness Signature
____________________________________
Witness Name
____________________________________
Witness Occupation
____________________________________
____________________________________
Witness Address
ATTACH HERE A COPY OF THE PREVIOUS AGREEMENT BETWEEN THE PARTIES (IN WHICH THE LENDER AGREED TO PROVIDE THE LOAN TO THE BORROWER).
RELEASE OF LOAN
This Release of Loan Deed ("this Deed") is dated this _________________
BETWEEN
The Lender:
________
of the following address:
________
AND
The Borrower:
________
of the following address:
________
BACKGROUND
(1) The Lender lent a sum of $________ (________) to the Borrower ("the Loan") under an Agreement dated ________ a copy of which is attached ("the Agreement").
(2) The Borrower has complied with the Borrower's obligations for repayment of the Loan and any accrued interest under the Agreement.
(3) The Lender intends to release the Borrower from any of the Borrower's obligations under the Agreement.
(4) In consideration for the full repayment of the Loan and any accrued interest by the Borrower, and the agreements and covenants set out in this Deed, the Lender and the Borrower agree as follows:
(1) DEFINITIONS
"Agreement" means the Agreement dated ________ a copy of which is attached to this Deed.
"Borrower" means ________.
"Business Day" means a day which is not a Saturday, Sunday or public holiday in New South Wales.
"Deed" means this Deed of Release.
"Deed Date" means _________________
"Loan" means the loan of $________ (________) from the Lender to the Borrower under the Agreement.
"Lender" means ________.
"Parties" means parties to this Deed.
"Party" means a party to this Deed.
(2) INTERPRETATION
In this Deed, unless the context otherwise requires, the following rules of interpretation shall apply:
(a) Words referring to one gender include every other gender.
(b) Words referring to a singular number include the plural, and words referring to a plural include the singular.
(c) If a word or phrase is defined in this Deed then any grammatical variations of that word or phrase have a corresponding meaning.
(d) Words referring to a person or persons include firms, corporations, associations, partnerships, joint ventures, authorities, government bodies, organisations and other legal entities, and vice versa.
(e) Any reference to time is a reference to time in New South Wales.
(f) In the event that something must be done under this Deed on or before a particular date, if that date falls on a day which is not a Business Day, then that thing must be done on or before the next Business Day.
(g) Any obligation on a Party not to do something includes an obligation not to allow that thing to be done.
(h) Headings and titles are included in this Deed for convenience only and shall not affect the interpretation of this Deed.
(i) A reference to legislation or any part or provision of that legislation includes any subordinate legislation, any amended legislation, and any substituted legislation issued under that legislation.
(j) A reference to an agreement or document is a reference to that agreement or document as amended, replaced, supplemented or novated from time to time.
(k) A reference to a Party also includes that Party's successors, assigns, legal personal representatives and/or any person that is substituted by way of novation.
(l) Any reference to money or currency, unless otherwise specified, is a reference to Australian dollars.
(3) RELEASE
In consideration for the full payment of the Loan and any accrued interest by the Borrower, and the agreements and covenants set out in this Deed, and except as otherwise required by law, the Lender hereby irrevocably and unconditionally releases and discharges the Borrower, together with any officers, employees, directors, agents, contractors, assignees, successors or other representatives of the Borrower, from any and all claims, debts, demands, suits, actions, proceedings or other liabilities whatsoever (including any costs whether legal or otherwise) which the Lender may have or may at any time incur against the Borrower or any officers, employees, directors, agents, contractors, assignees, successors or other representatives of the Lender (whether directly or indirectly) in connection with the Loan or the Agreement.
(4) SUFFICIENCY OF PAYMENT
The Lender hereby acknowledges the receipt of and the sufficiency of the Borrower's repayment of the Loan as consideration.
(5) 888 58 2585858 28885585825
552 2552828 525282 252528882 52522 2552 2588 8225 252 82 2825525 58 5 2588 525 82228222 5222282 22 522 885828, 52828, 5225258, 85828, 5828228, 25282258228 25 22525 88588882828 2552 522 22525 25522 22 2588 8225 (25 522 22288258, 222822228, 585282258, 522228, 82225582258, 588822228, 8588288258 25 22525 522528222528828 22 522 22525 25522 22 2588 8225) 252 255852 52 522 2822 82 52852822 22 252 2252 25 252 825222222.
(6) WARRANTIES REGARDING LEGAL ADVICE
(a) Each Party, (which for the purposes of this clause shall be referred to as the "Warranting Party" as the context requires) hereby respectively warrants:
(I) the Warranting Party fully understands the terms of this Deed.
(II) the Warranting Party has had the opportunity to obtain independent legal advice in relation to the matters addressed by this Deed and the Warranting Party has either:
(A) taken such independent legal advice; or
(B) elected not to take such independent legal advice.
(III) the Warranting Party has not been induced to enter this Deed by any representation(s) made by the other Party or by any officer, employee, director, agent, contractor, assignee, successor or other representative, except as provided in this Deed.
(b) This clause will survive termination or expiration of this Deed.
(7) CONFIDENTIALITY
(a) Subject to this clause, the Parties each respectively hereby agree to keep the provisions of this Deed confidential.
(b) Notwithstanding the preceding sub-clause hereof, the Parties may disclose any details of this Deed ("Details"):
(I) to their respective legal or financial advisors ("Advisors") provided that the Party disclosing the Details to any such Advisors first ensures that those Advisors are legally bound to keep the Details confidential on terms at least as onerous as those contained in this Deed; or
(II) as otherwise required by law, by court order, or by the requirement of any stock exchange or regulatory authority.
(c) This clause will survive termination or expiration of this Deed unless the Parties agree otherwise in writing.
(8) ENTIRE AGREEMENT
In relation to the subject matter of this Deed, this Deed constitutes the entire agreement between the Parties and supersedes any prior or contemporaneous understandings, whether written or oral.
(9) LEGAL COSTS
Each Party must pay its own legal costs of and incidental to this Deed.
(10) GENERAL PROVISIONS
(a) GOVERNING LAW: This Deed shall be governed in all respects by the laws of New South Wales and any applicable federal law. Both Parties consent to jurisdiction under the state and federal courts within New South Wales.
(b) LANGUAGE: All communications made or notices given pursuant to this Deed shall be in the English language.
(c) AMENDMENTS: This Deed may only be amended in writing signed by both Parties.
(d) RIGHTS, REMEDIES AND POWERS: Unless expressly provided in this Deed, any rights, remedies or powers which a Party acquires under this Deed are cumulative and apply in addition to any rights, remedies or powers which that Party may otherwise have. Unless expressly provided in this Deed, nothing in this Deed shall in any way reduce, extinguish, postpone, restrict or otherwise limit any right, remedy or power which that Party may have.
(e) SURVIVAL OF OBLIGATIONS: At the termination or expiration of this Deed, any provisions of this Deed which would by their nature be expected to survive termination or expiration shall remain in full force and effect, including but not limited to any provisions which are explicitly stated to survive termination and/or expiration.
(f) NO WAIVER: None of the powers or rights created under the terms of this Deed shall be deemed to have been waived by any act or acquiescence of either Party. A power or right under the terms of this Deed may only be waived in writing, signed by the Party that is waiving the said power or right. No waiver of any power or right under a term of this Deed shall constitute a waiver of any other power or right or of the same power or right on a future date. Failure of either Party to enforce any term of this Deed shall not constitute waiver of such term or any other term.
(g) SEVERABILITY: If any provision or term of this Deed is held to be unenforceable, then this Deed will be deemed amended to the extent necessary to render the otherwise unenforceable provision, and the rest of the Deed, valid and enforceable. If a court declines to amend this Deed as provided herein, the invalidity or unenforceability of any provision of this Deed shall not affect the validity or enforceability of the remaining terms and provisions, which shall be enforced as if the offending term or provision had not been included in this Deed.
(h) 885855828855: 5588 8225 252 82 25285225 82 825222525528, 588 22 85885 85588 8228282522 5 882282 525222222. 52 252 55228 822 22525 52 252 225 22 2588 52852222 552 582225222, 2588 8225 88 22 82 8228852525 222282882 58 22 252 5522 2552 8225 2552828 5582 882225 252 525222222, 85885 252 82 252 85225 5522.
(i) FORCE MAJEURE/EXCUSE: Neither Party is liable to the other for any failure to perform due to causes beyond its reasonable control including, but not limited to, acts of God, acts of civil authorities, acts of military authorities, riots, embargoes, acts of nature and natural disasters, labour or transportation disputes, and other acts which may be due to unforeseen circumstances.
(j) FURTHER ACTS: Each Party must, and must ensure that its directors, employees, officers, agents, representatives and contractors do all things and sign, execute and deliver all documents, agreements and instruments as reasonably required in order to give effect to this Deed and to the rights and obligations of the Parties created under this Deed.
EXECUTED AS A DEED THIS ________
Signed Sealed and Delivered by ________:
____________________________________
________
In the presence of:
____________________________________
Witness Signature
____________________________________
Witness Name
____________________________________
Witness Occupation
____________________________________
____________________________________
Witness Address
Signed Sealed and Delivered by ________:
____________________________________
________
In the presence of:
____________________________________
Witness Signature
____________________________________
Witness Name
____________________________________
Witness Occupation
____________________________________
____________________________________
Witness Address
ATTACH HERE A COPY OF THE PREVIOUS AGREEMENT BETWEEN THE PARTIES (IN WHICH THE LENDER AGREED TO PROVIDE THE LOAN TO THE BORROWER).
Answer the question, then click on "Next".
The document is written according to your responses - clauses are added or removed, paragraphs are customised, words are changed, etc.
At the end, you will immediately receive the document in Word and PDF formats. You can then open the Word document to modify it and reuse it however you wish.
