Definition of loan agreement in English:

loan agreement

noun

  • A contract between a borrower and a lender detailing the conditions for a loan.

    ‘they made a loan agreement for 20 per cent interest’
    • ‘The new loan agreement was reached last month and the debt restructuring was completed last week.’
    • ‘The company's five directors are in court defending allegations the half-year accounts did not disclose it was in breach of its loan agreement.’
    • ‘Failing to file accounts would normally result in the default of a loan agreement, according to bank sources.’
    • ‘The auditors demanded a formal loan agreement.’
    • ‘A loan agreement was signed for the amount of 41.5 million euros for the construction of the new runway system.’
    • ‘She was subsequently instructed to draft the second loan agreement.’
    • ‘The two largest parties signed off on a loan agreement that makes the country a ward of its creditors.’
    • ‘He had entered into a loan agreement with Mr Watson's company.’
    • ‘Consumers are effectively trapped in loan agreements, because even if they find a better deal they cannot afford to change finance companies.’
    • ‘The danger of the domino effect leading to default under all the borrower's loan agreements is obvious.’