What is a term loan agreement? What are its various clauses?
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Answer Posted / Abhinay Kuamr
A Term Loan Agreement is a contract between a borrower and a lender outlining the terms of a long-term loan. Key clauses include: 1. Borrowing Amount, 2. Interest Rate, 3. Maturity Date, 4. Security, 5. Covenants, 6. Prepayment Penalty, and 7. Default Clause.
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