(Party No. 1andParty No. 2hereinafter jointly referred to as the "Parties" and individually as the "Party")
THE PARTIES HEREBY AGREE AS FOLLOWS:
Subject-matter of the Agreement
Do you wish that another person secure the repayment of the Loan?
1.1The Creditor hereby lends to the Debtor an amount ofby words(hereinafter the "Loan") and the Debtor accepts the Loan and agrees to repay the loan under the terms and conditions stipulated herein..
1.2The Parties hereby express their consent with the security of the Guarantor (as defined by this Agreement) in line with Guarantor's Declaration under this Agreement.
Handover of the Loan
2.1THe Creditor agrees to provide the Debtor with the Loan, .
2.2By executing this Agreement the Parties confirm the takeover of the Loan by the Debtor.
3.1The Parties agree that the Creditor provides the Loan to the Debtor .
4.1The Parties arrange for a Loan .
Repayment of the Loan
The loan should be repaid:
5.1The Debtor agrees to repay the Loan to the Creditorby
at the above specified address of the .
5.2The Parties shall draft and sign an acceptance certificate on the repayment of the Loan, or any other document certifying the repayment of the Loan.
6.1If the Debtor is in default withthe repayment of the Loan under Paragraph5.1hereof, the Debtor agrees to pay to the Creditor a contractual penalty in the amount of% of the outstanding balance for each day in default until the full repayment of the Loan.
Securing the Loan by Promissory Note
7.1At the execution hereof (i.e. on the day of execution hereof) the Debtor has issued a promissory note to the order of the Creditor, to be paid, with the Debtor's Guarantor as his/her/its aval, with a "no contest" clause, without indicating the due date of the promissory note, or the amount on the day of execution hereof (hereinafter the "Blank Promissory Note"). To exclude any doubts, in this Agreement the Blank Promissory Note means a full promissory note that will come into existence by completing the missing datablankosměnka“). Pro vyloučení veškerých pochybností se pro účely této smlouvy rozumí blankosměnkou i směnka úplná, která vznikne po doplnění chybějících údajů.
7.2The Debtor has issued the Blank Promissory Note in order to secure due and timely fulfilment of its obligation specified in Paragraph1.1(in a manner specified in Article5)and in Article6hereof (hereinafter jointly referred to as "Secured Receivables").
7.3The Debtor confers to the Creditor an irrevocable right to completethe Blank Promissory Note based on which the Creditor may fill in the true data in the gaps, i.e. the due date of the promissory note and the amount of the promissory note, and to turn the Blank Promissory Note into a full promissory note (hereinafter the "Right to Complete the Note").
7.4The Creditor may exercise his/her/its right to complete the Blank Promissory Note if the Debtor is in default with payment of the secured receivables, or any parts thereof and is obliged to complete the missing data truly.
7.5The Creditor may off-set payment from the Blank Promissory Note against the secured receivables or any parts thereof.
7.6By signing this Agreement the Creditor confirms that upon execution hereof, he/she/it has taken over one original Blank Promissory Note. The Creditor is obliged to return the Blank Promissory Note to the Debtor once the full Loan, including its accessions, has been paid.
8.1This Agreement is governed by the laws of the Czech Republic, namely Section 2390 et seq. of Act No. 89/2012 Sb., the Civil Code, as amended.
9.1Unless the context indicates otherwise in the Agreement, any references to a singular form also include the plural and vice versa; references to a specific gender also include the other gender. Headings are used for convenience only and they do not affect the interpretation of the Agreement.
9.2Any unenforceable or invalid provisions contained herein do not influence the enforceability or validity of the remainder of the provisions hereof, unless the nature of such a provision or its content implies that it is not severable from the remaining provisions of the Agreement.
9.3This Agreement constitutes an entire agreement between the Parties in relation to the subject-matter hereof and it supersedes any previous arrangements in respect of the subject-matter hereof.
9.4This Agreement may be modified by written amendments executed by both Parties.
9.5This Agreement has been made in two counterparts. Each Party shall obtain one counterpart of this Agreement.
9.6Each Party shall bear its own costs incurred as a result of the conclusion hereof.
9.7This Agreement comes into force and effect upon its execution by both Parties.
9.8The Parties have read the Agreement, they agree with its contents and declare that it has been entered into freely.
IN WITNESS WHEREOF, THE PARTIES AFFIX THEIR RESPECTIVE SIGNATURES
, born on
, residing at(hereinafter only the "Guarantor") represents before the Creditor, that if the Debtor fails to perform on his/her obligation specified under article.The Guarantor “) represents before the Creditor that if the Debtor fails to perform on his/her obligation specified under Article1.1of the above Agreement (i.e. the obligation to repay the Loan to the Creditor)of the above Agreement (i.e. the obligation to pay the Creditor the interest accrued on the Loan)and in Article 6of the above Agreement (i.e. pay the Creditor the contractual penalty), the Guarantor will unconditionally satisfy the Creditor in full, i.e. the Guarantor will pay (satisfy) each of the above specified pecuniary obligations of the Debtor arising out of the Agreement, including accessories (if any), in the amount corresponding to the amount on which the Debtor defaults, and shall do so within days upon delivery of a writen notice sent by the Creditor at the latest.
This clause constitutes Guarantor Representation within the meaning of Section 2018 et seq. of Act No. 89/2012 Sb., the Civil Code, as amended
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