THIS FRIENDLY LOAN AGREEMENT is made on day of
2022.
BETWEEN
1) xxx (the “Lender”) of the one part.
AND
2) xxx (the“Borrower”) of the second part;
The Lender and the Borrower may individually be referred to as ‘Party’ or
collectively as ‘the Parties’.
The Lender is desirous and agrees to grant a loan to the Borrower and the
Borrower hereby agree to receive the loan subject to and in accordance to the
terms and conditions hereinafter contained:
WHEREAS:-
(A) The total amount of money being borrowed from the Lender to the Borrower
is xxx (Ringgit Malaysia : xxx) (the “Loan”) from the Lender.
(B) The Loan is disburse to the Borrower’s Account No. .
(C) It is mutually agreed between the Parties that there shall be no interest
associated wi the Loan. The Borrower’s only obligation to the Lender is to do
repayment of the principal balance.
(D) There shall be no due date on the repayment of Loan and payable at any
time.
(E) The Borrower accepts and agrees to give five percent (5%) of shares of
the Bukit Segar.
NOW THIS AGREEMENT WITNESSETH as follows:-
1. The Parties agree that upon the Borrower's receipt of the TOTAL PAYMENT
described above, the Loan is full and forever settled.
2. The Parties agree that there are no further claims between The Parties of
any nature whatsoever from any and all liability or damages of any kind,
known or unknown, in contract or in tort, related to this Agreement.
REF:
3. The Parties agree that the terms of this Agreement are the result of
negotiations between the Parties and constitute a final accord and
satisfaction concerning all disputes between them related to this Agreement.
4. All settlement terms described herein are dependent upon the Lender
receiving
from the Borrower the final and total payment of xxx (xxx) only.
5. The Parties agree not to bring any claim of any kind against the other Party
to this Agreement concerning any matter released by this Agreement,
except for any suits necessary to enforce the terms of this Agreement.
6. The Parties agree that the terms and conditions of this Agreement shall
remain confidential and that no Party shall release any part of this
Agreement.
7. This Agreement constitutes a single, integrated written contract expressing
the entire agreement of the Parties to this Agreement. Any other
agreements, discussions, promises, and representations have been and are
integrated into and superseded by this Agreement.
8. No modifications to any provisions contained in this Agreement shall be
binding upon any Party unless made in writing and signed by all concerned
Parties.
9. If any provision of this Agreement is held to be unenforceable for any
reason,
the remaining parts of the Agreement shall remain in full force and effect.
10. Each Party affirms and swears that they have not assigned any portion of
the claims released under this Agreement to any third party.
11. Each Party represents that they have the express authority to enter into this
Agreement on behalf of themselves or their respective organizations.
12. This Agreement shall be governed by and construed in accordance with the
laws of Malaysia and in the event of arbitration proceeding shall be failed the
Parties irrevocably submit to the exclusive jurisdiction of the court of
Malaysia.
13. This Agreement shall be binding on the heirs, personal representatives,
assigns and successors-in-title of the parties hereto respectively.
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IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day
and year first abovewritten.
REF: 2
SIGNED by The Lender )
)
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Name: xxx
NRIC: xxx
In the presence of ) ----------------------------------------------------------
Name:
NRIC:
SIGNED by The Borrower )
)
----------------------------------------------------------
Name: xxx
NRIC: xxx
In the presence of ) ----------------------------------------------------------
Name:
NRIC:
REF: 3
