Unsecured employee loan agreement—company and employee—short-form

Published by a ÀÏ˾»úÎçÒ¹¸£Àû Employment expert
Precedents

Unsecured employee loan agreement—company and employee—short-form

Published by a ÀÏ˾»úÎçÒ¹¸£Àû Employment expert

Precedents
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This Agreement is made on [insert date]

Parties

  1. 1

    [insert name of employee borrower], of [insert address] (Employee); and

  1. 2

    [insert name of employer lender], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (Employer).

It is agreed as follows:

    1. 1

      Definitions

      1. 1.1

        In this Agreement, unless otherwise provided:

        Drawdown Date

        1. •

          means [insert date];

        Event of Default

        1. •

          has the meaning given to it in Clause 6;

        Loan

        1. •

          means the sum of £[insert figure] (£[insert amount in words] to be lent by the Employer to the Employee under this Agreement, to the extent not repaid;

        Repayment Date

        1. •

          has the meaning given to it in Clause 4.

    1. 2

      The Loan

      1. 2.1

        Subject to the terms of this Agreement, the Employer makes the Loan available to the Employee for the purpose of [buying an annual gym membership OR buying an annual travel season ticket OR [insert description]].

      1. 2.2

        The Loan will be provided to the Employee in the form

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Jurisdiction(s):
United Kingdom

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