Contract Sample
CONVERTIBLE LOAN AGREEMENT
Contract Number / Membership Number / Payment Reference: XXX
concluded pursuant to Section 2390 et seq. of Act No. 89/2012 Coll., the Civil Code of the Czech Republic
Between
Lender:
[name of lender]
[address]
date of birth:
bank account number:
e-mail:
and
Borrower:
Alice Janstová
date of birth: 5 January 1986
address: Jelení ev. č. 1, 362 21 Nové Hamry, Czech Republic
EUR account number:
1573300021/2700
IBAN: CZ1127000000001573300021
I. Subject of the Agreement
The Lender provides the Borrower with a loan (hereinafter the "Loan") in the amount of EUR 2,200
(in words: two thousand two hundred euros).
The Borrower undertakes to repay the Loan to the Lender under the terms and conditions set forth in this Agreement.
The purpose of the Loan is to support the development of the Allora Sardinia project.
II. Loan Repayment Terms
This Agreement is concluded for a fixed term until 31 December 2035.
The Borrower undertakes to repay the Loan over a period of 10 years in the form of annual performance, always no later than the end of each calendar year. The maturity of the first annual performance under this Agreement shall occur on 31 December 2026.
The Borrower undertakes to repay the Loan by one of the following methods, always according to the choice of the Lender and under the conditions set out in this Agreement:
a) Monetary form
The Lender is entitled to receive payment of EUR 250 per year to the bank account of the Lender specified in the header of this Agreement; by choosing this monetary form of performance for a given year, the Lender's entitlement to simultaneously convert the monetary claim into a non-monetary form of performance (see below) for the same calendar year shall lapse.
The Lender shall notify the Borrower of their choice as to whether, for the relevant calendar year, they request payment of the monetary performance or intend to use the conversion of the monetary performance into accommodation services (see below), no later than 30 June of the given year. The Borrower undertakes to pay the relevant amount no later than 31 December of the same year.
b) Conversion of the claim into a non-monetary form (accommodation services)
The Lender may unilaterally decide that their claim for performance under this Agreement for a given calendar year shall be converted from a claim for payment of monetary performance (repayment of the Loan) into a (non-monetary) claim for the use of accommodation services under the conditions set forth in this Agreement.
The Lender may decide on the conversion of the monetary claim for each calendar year, at the latest by 30 June of the given calendar year. A combination of monetary performance and conversion into accommodation services within one calendar year is not possible.
By converting the monetary claim, the Lender acquires the right to use accommodation services provided by the Borrower, in particular in the form of accommodation in yurts and/or apartments arranged by the Borrower, subject to current availability.
Accommodation shall be invoiced by the Borrower as an accommodation service in accordance with applicable legislation and recorded within the Borrower's business activities. This does not constitute hidden performance.
The conversion of the Lender's monetary claim into accommodation services shall take place such that a claim for monetary performance for one calendar year under this Agreement corresponds to a claim for accommodation for a period of 5 nights in one apartment or yurt (without meals):
- for a maximum of 2 adults and 3 children, or
- for a maximum of 3 adults, or
- for one adult, for up to 10 nights per year in a yurt (instead of the standard 5 nights).
In the case of accommodation in apartments, costs for electricity consumption may be charged separately.
The possibility of using accommodation services through conversion of the monetary claim under this Agreement is limited by accommodation capacity and current availability. Accommodation reservations operate on a first-come, first-served basis. The Borrower reserves the right to refuse the Lender's request to use accommodation services in a given calendar year due to fully booked capacity, operational reasons, or other serious reasons.
If accommodation services cannot be used (as well as if the Lender decides not to convert the monetary claim into accommodation services), the Lender's entitlement to payment of the monetary performance under this Agreement shall remain preserved.
The Lender shall be assigned a unique code (identical to the contract number), which shall be used for identification when making reservations.
Performance in the form of conversion into accommodation services is transferable and may be provided to another person upon prior agreement with the Borrower.
Upon agreement with the Lender, it is possible to use the entitlement in the form of conversion into accommodation services flexibly, in particular by transferring part of the entitlement to the following calendar year.
III. Termination of the Agreement
Both the Lender and the Borrower may terminate this Agreement at any time after 3 years from the date of signature.
In the event of termination of the Agreement, the Lender shall be entitled to payment of a proportional part of the outstanding unpaid portion of the Loan, in the following amounts:
- after 3 completed years → EUR 1,540
- after 4 completed years → EUR 1,320
- after 5 completed years → EUR 1,100
- etc. – for each additional completed year, the amount shall be reduced by EUR 220.
If, in previous years, the Lender has drawn more than corresponds to the standard annual entitlement under this Agreement, the returned amount shall be adjusted according to the actual use.
Payment shall be made no later than 6 months from the delivery of the notice of termination to the Borrower. In justified cases, this period may be extended upon agreement with the Lender.
IV. Final Provisions
- This Agreement shall enter into force on the date of signature by both parties.
- This Agreement may be signed physically or electronically (by scan or e-mail).
- Any amendments to this Agreement shall be made in writing.
- The Borrower confirms that the Loan shall be used for purposes related to the Allora Sardinia project.
- This Agreement is executed in two counterparts, each party receiving one counterpart.
In ____________, on ____________
Lender:
(signature)
In ____________, on ____________
Borrower:
(signature)