Contract Sample
CONVERTIBLE LOAN AGREEMENT
Contract Number / Member ID / Payment Reference: 202500X
concluded under Section 2390 and following 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:
Email:
and
Borrower:
Alice Janstová
Date of birth: 5 January 1986
Address: Jelení ev. č. 1, 362 21 Nové Hamry, Czech Republic
Bank account:
CZK – 1573300005/2700
EUR – 1573300021/2700, IBAN: CZ1127000000001573300021
I. Subject of the Agreement
The Lender hereby provides the Borrower with a loan in the amount of CZK 50,000 (in words: fifty thousand Czech crowns). 2000 € in words: Two thousand Euros
The Borrower agrees to repay the loan under the terms and conditions set forth in this Agreement.
The purpose of the loan is to support the Allora Sardinia project and help maintain the operations of the Mezi Jeleny place.
II. Repayment Terms
This Agreement is concluded for a fixed term, until 31 December 2035.
The Borrower agrees to repay the loan over 10 years in the form of annual fulfilment, always no later than the end of each calendar year. The first annual fulfilment is due by 31 December 2026.
The Borrower shall repay the loan using one of the following methods, based on the Lender's choice and under the conditions defined in this Agreement:
a) Cash Repayment
The Lender is entitled to receive CZK 6,000 (240 €) annually, paid to the bank account listed at the beginning of this Agreement.
By choosing this form of fulfilment for a given year, the Lender waives the right to convert the same year's entitlement into non-monetary fulfilment (see below).
The Lender shall notify the Borrower of their choice (cash repayment or conversion into accommodation services) by 30 June of the relevant year.
The Borrower shall make the payment no later than 31 December of the same year.
b) Conversion into Non-Cash Fulfilment (Accommodation Services)
The Lender has the right to unilaterally choose, for any given year, to convert the cash repayment into non-cash fulfilment in the form of accommodation services, under the terms defined in this Agreement.
This conversion must be confirmed no later than 30 June of the relevant year.
A combination of cash and non-cash fulfilment in the same year is not permitted.
Through conversion, the Lender becomes entitled to accommodation in the following places:
- Jelení ev. č. 1, 362 21 Nové Hamry, Czech Republic (hereafter "Jelení")
- Allora Sardinia, Tanca Farrà 40, Alghero, Sardinia, Italy (hereafter "Sardinia")
- Or at pre-approved partner locations (list subject to change and not guaranteed), in which case the fulfilment shall be in the form of a discount of CZK 7,000 (280 €) on accommodation, not free accommodation.
Accommodation at the first two locations will be invoiced by the Borrower as an official service in compliance with business and tax regulations.
Conversion for one year corresponds to:
- 5 nights of accommodation (without meals) in one room/yurt for:• Up to 2 adults and 3 children under 14 years old, or• Up to 3 adults, or• 1 adult – 10 nights per year at Jelení (without meals) or 5 nights in Sardinia including half-board.
Accommodation is subject to availability and will be booked on a first-come, first-served basis. The Borrower may refuse the request due to full occupancy or other serious reasons. If accommodation cannot be used, the cash fulfilment will apply.
The Lender will receive a unique membership number for booking identification.
Non-cash fulfilment may be transferred to another person upon agreement.
It may also be carried over or used flexibly, e.g., more nights in one year and fewer in another.
III. Termination of the Agreement
After 3 full years from the signing of the Agreement, either party may terminate it at any time.
In such case, the Lender is entitled to a proportional refund of the remaining loan amount, as follows:
- After 3 full years → CZK 35,000 (1400 €)
- After 4 full years → CZK 30,000 (1200 €)
- After 5 full years → CZK 25,000 (1000 €)
- Etc. (reduced by CZK 5,000 (200 €) for each additional year)
If the Lender has already used more services than the annual average, the refund will be reduced accordingly.
The refund shall be paid within 6 months of termination notice. This period may be extended by agreement in justified cases.
IV. Final Provisions
- This Agreement becomes effective upon signature by both parties.
- It may be signed physically or electronically (e.g. scan or email).
- Any amendments must be made in writing.
- The Borrower confirms that the loan will be used solely for the purposes of the Allora Sardinia project and maintaining the Mezi Jeleny site.
- This Agreement is executed in two originals, each party receiving one.
In ____________ , dated ____________
Lender:
(signature)
In ____________ , dated ____________
Borrower:
(signature)