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    Memorandum of Understanding Between Lender and Borrower

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    Annai Sagayam
    This Memorandum of Understanding establishes an agreement between a Lender and Borrower. The Borrower has taken out a loan and owes the Lender a principal amount and interest. The Borrower agrees to pay the full principal amount by a specified date, and in return, the Lender agrees to waive the outstanding interest and penalties on the loan.

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    Memorandum of Understanding Between Lender and Borrower

    Uploaded by

    Annai Sagayam
    513 views1 page
    This Memorandum of Understanding establishes an agreement between a Lender and Borrower. The Borrower has taken out a loan and owes the Lender a principal amount and interest. The Borrower agrees to pay the full principal amount by a specified date, and in return, the Lender agrees to waive the outstanding interest and penalties on the loan.

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    This Memorandum of Understanding establishes an agreement between a Lender and Borrower. The Borrower has taken out a loan and owes the Lender a principal amount and interest. The Borrower agrees to pay the full principal amount by a specified date, and in return, the Lender agrees to waive the outstanding interest and penalties on the loan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    513 views1 page

    Memorandum of Understanding Between Lender and Borrower

    Uploaded by

    Annai Sagayam
    This Memorandum of Understanding establishes an agreement between a Lender and Borrower. The Borrower has taken out a loan and owes the Lender a principal amount and interest. The Borrower agrees to pay the full principal amount by a specified date, and in return, the Lender agrees to waive the outstanding interest and penalties on the loan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Memorandum of Understanding between Lender and Borrower

    THIS MEMORANDUM OF UNDERSTANDING (MOU) is made at _______ on this _____ day of


    __________ 200_ between M/s. _________ Limited, a Company incorporated under the Companies Act,
    1956 having its Registered Office at ___________________________ (Hereinafter referred to as "the
    Lender" which term or expression shall unless excluded by or repugnant to the subject or context hereof
    shall mean and include its heirs, successors and assigns of the ONE PART) and Mr.______________ s/o
    ________________ r/o ________________________( Hereinafter referred to as "the Borrower", which
    term or expression shall unless excluded by or repugnant to the subject or context hereof shall mean and
    include his/her heirs, successors and assigns of the SECOND PART).

    WHEREAS

    a. The Borrower has agreed to pay to the Lender the sums due under the Loan Agreement dated
    _______.
    b. The Borrower has paid a sum of Rs. _______ Lakh (Rupees ____________) in this behalf from
    time to time.
    c. The principal amount of Rs....... Lakh is due for payment as on _______. Further an amount of
    Rs....... Lakh is payable by the Borrower towards interest to the Lender.

    NOW THIS MEMORENDUM OF UNDERSTANDING WITNESSETH AS FOLLOWS:-

    a. The Borrower has agreed to pay the amount due under this Loan Agreement by a one-time
    payment of the entire principal due before _________.
    b. The Lender in consideration of the principal amount as per (a) above has agreed to waive the
    outstanding interest/penal interest due on the above loan.

    IN WITNESS WHEREOF the Parties have put their respective hands on the day, month, year and place
    first above written.

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