Debt Repayment Agreement Sample
– they keep the creditor free of any act or debt related to the agreement between the debtor and the buyer. This agreement allows both parties to negotiate a smaller amount of money and reach a consensus that the debtor will pay for the interest on the debt. In this way, the debtor can afford to repay the debt and reduce its impact on their credit health, while the creditor can accept a lesser amount to recover some of its losses. This agreement can be used to submit in writing the terms of the agreement negotiated by the parties or be used for one of the parties to propose to the other party the terms of the debt outstanding solution. U.S. Energy, a Delaware-based company based at 45 First Avenue, Waltham, MA 02451 (the company) and Trifon and Despina Pantopoulou Natsis (the « debt holders ») (`parties`) a convertible debt contract entered into on August 9, 2016 (the « debt contract ») for the amount of the debt of $3,416,681.00 (the « debt contract »). CONSIDERING that the debtor is liable to the creditor for an amount equal to [AMOUNT DEBT DOLLAR] dollar (the « debt ») (the « debt »); and the creditor may agree to appoint the buyer to the territory in place of the debtor, provided 1) the debtor and the buyer agree on the terms of the transaction and will hold the creditor unscathed against any act or claim in this regard; 2) the buyer agrees to repay the debt and 3) the creditor and the buyer enter into a new franchising agreement. Debt repayment. It is understood by the parties that the debtor has an unpaid debt to the creditor. In the mutual interest of the parties, they agree that these outstanding claims are considered affordable when the debtor is required to make the payment of ____________von – the agreement takes effect after the official seals of both companies have been stamped and signed by the legal representatives or the authorized representatives of both parties. Additional payment.
After payment by the debtor, the creditor does everything in its power to withdraw unpaid debts from the credit institutions. In addition, the creditor states that it will not provide any additional information that could adversely affect the debtor`s credit report. Several pieces of information will be needed to balance the text of this agreement. In the beginning, we will consolidate the parties who intend to enter into this contract. First, we will identify the creditor. That is, the party that holds the debt. Write down the creditor`s legal name on the first space of the first paragraph. Then, with the second empty line, document the address of the creditor`s street. Finally, the third and fourth empty posts will need the city and the state linked to the creditor`s designated road address. Then we will identify the debtor.
This is the party that is required to repay the debts outstanding to the creditor.