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Cash Loan Agreement Contract

A legally binding credit agreement not only reflects the terms of the loan, but also protects you if the borrower is late with the credit and will not repay you as agreed. Acceleration – A clause in a loan agreement that protects the lender by requiring the borrower to immediately repay the loan (both the principal and all accrued interest) if certain conditions occur. A person could characterize the credit agreement as a debt or a promise of payment. Another might qualify the document as a loan of need or a fixed-term loan. If the loan terms are included in the loan title, the title of the document is a secured loan or an unsecured note. All these latter titles refer to the same type of legal documentation. A credit agreement template is a completed form…