Loan Agreement Letter

This Is An Agreement Between The London Bank, 39 Wolsey Avenue, East Ham, London E6 7hf, And Uk Clothing Chain, Inc. (Ucci), 31 Thornhill Road, Islington, London, N1 2hw.

Whereas, The Ucci Has Requested A Loan From The London Bank For Urgent Financial Support And In Accordance With Specific Terms And Conditions;

Whereas, The London Bank Is Prepared To Loan The Sum To Ucci Based On Several Terms And Conditions That Ucci Must Follow;

Now, Therefore, It Is Hereby Agreed That:

  1. The London Bank Will Loan To Ucci An Amount Of £100,000 On The Date This Agreement Is Jointly Signed.
  2. The Loan Will Be Accumulating An Interest Based On The Loan Amount Starting One Year From The Date Of This Agreement.
  3. The Maximum Term Of Loan Is Four Years.
  4. The London Bank May Charge Collection Fees Against Ucci Should It Fail To Repay The Loan Within The Maximum Term Of Loan.

Signed, May 25, 2010.

For London Bank:                                                                     For Ucci:

Eric Baker                                                                                 Alex Lloyd

(Manager)                                                                             (Managing Partner)

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