This is an agreement between the Bank of Atlanta, 564, Fisherman Drive, Atlanta, GA 57110 and Bright Electric Technologies Pvt. Ltd., 7877 Roger Drive, Atlanta, GA 57121.
Whereas, the BETPL has requested a loan from Bank of Atlanta for emergency financial help and in accordance with certain terms and conditions;
Whereas, the Bank is willing to loan money to BETPL in accordance with some terms and conditions;
Now, therefore, it is hereby agreed that:
- On the date in which this agreement is signed by Bank, the Bank will loan BETPL an amount of $5500.
- Interest will be calculated on loan amount only after one year from date of this agreement.
- The maximum term of loan is five years.
- If BETPL failed in repaying the loan, then it is agreed that the Bank may charge collection costs against BETPL.
For Bank of Atlanta: For BETPL:
Mr. Gary Richards Mr. Shaun Peterson
(Bank Manager) (Managing Partner)