New York Loan Agreement

New York Legal Documents

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A loan agreement is a contract entered into between which regulates the conditions of a loan. Loan agreements usually relate to loans but market particular contracts may also be used to regulate securities lending. Loan agreements are usually in written form, but there is no legal reason why a loan agreement cannot be an only verbal contract (although in some countries this may be limited comparable legislation or by the Statute of frauds).

Loan agreements are usually characterised either of two different manners: by the kind of lender, or by the form of facility. Categorising loan agreements generally simply subdivides loans into:

bilateral loans
syndicated loans

Categorising loan agreements by type of facility, generally leads to two primary classes:

Term loans, which are repaid in set instalments over the period, or revolving loans (or overdrafts) where up to your maximum amount can be withdrawn at any time, and interest is paid from month to month on the sum that was drawn.

Within these two types though, there are several subdivisions such as interest-only loans, and balloon payment loans. It’s also possible to subcategorise on whether the interest rate is fixed or floating, and whether the loan is an unsecured loan or a secured loan.

Giovanni da Verrazano, an Italian-born navigator sailing for France, discovered New York Bay in 1524.

In 1624 the first permanent Dutch settlement was established at Fort Orange (now Albany). One year later Peter Minuit bought Manhattan Island from the Indians for trinkets worth and founded the Dutch colony of New Amsterdam (now New York City), that was surrendered to the English in 1664.

Today, the 641-mile Gov. Thomas E. Dewey Thruway connects New York City with Buffalo and with Connecticut, Massachusetts, and Pennsylvania express highways. Two toll free superhighways, the Adirondack Northway (linking Albany with the Canadian boundary) and the North-South Expressway (crossing central New York from the Pennsylvania boundary to the Thousand Islands), have already been opened.

The great metropolis of New York City is the nerve center of the country. It’s a leader in business, manufacturing, foreign trade and banking, book and magazine publishing, and theatrical production. A leading seaport, its John F. Kennedy International Airport is one of the busiest airports on the planet. New York is also home to the Ny Stock Exchange, the largest in the world. The printing and publishing industry is the city’s biggest manufacturing company.

Nearly all the remaining state’s manufacturing is done along the Hudson River north to Albany, on Long Island, and through the Mohawk Valley, Central New York, and Southern Tier regions to Buffalo. The St. Lawrence seaway and electricity projects have opened the North Country to industrial expansion and have given the state a second seacoast.

The state ranks seventh in the nation in manufacturing, with 586,400 workers in 2005. The principal businesses are printing and publishing, industrial machinery and equipment, electronic equipment, and devices. The convention and tourist business can be an important income source.

New York farms produce vegetables, and calves and cows, corn and poultry and fruits.

Major points of interest are Castle Clinton, Fort Stanwix, and Statue of Liberty National Monuments; Niagara Falls; U.S. Military Academy at West Point; National Historic Sites that comprise homes of Franklin D. Roosevelt at Hyde Park and Theodore Roosevelt in Oyster Bay and New York City; the Women’s Rights National Historical Park in Seneca Falls; National Memorials, including Grant’s Tomb and Federal Hall in New York City; Fort Ticonderoga; the Baseball Hall of Fame in Cooperstown; and the United Nations, skyscrapers, museums, theaters, and parks in New York City.

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