LOAN AGREEMENT

This agreement is made by and between:

XXXX, a company established and existing under the laws of ……., having its
registered address at …………….. (“the Lender”)

and

YYYY, a company established and existing under the laws of ……….., having its
registered address at …………………. (“the Borrower”).

Witnesseth:

Whereas, at the request of the Borrower, the Lender has agreed to grant the Borrower
a short-term loan facility equivalent to ……….. (Currency), from the Lender to the
Borrower.

Now, therefore, the parties hereby agree as follows:

1. The loan shall not bear any interest

2. In the event that:

- the Borrower defaults on the payment of any amount due or in the fulfillment
of any obligation under this agreement;
- the Borrower becomes bankrupt or insolvent;
- the Borrower breaches any term of this agreement;
then this loan and any interest accrued shall become and be immediately due
and repayable on demand without further notice.

3. No term in this agreement may be amended or waived without the prior written
consent of the Lender.

4. The loan shall be fully repaid within 12 (twelve) months from the date of this
agreement unless the parties agree to extend the loan duration. Without
prejudice to any other term of this agreement, this agreement may be terminated
by the Lender upon 3 months prior written notice, and upon the expiry of such 3-
month period, this loan and any interest accrued shall become and be
immediately due and repayable.

5. This agreement shall be deemed to take effect, and the parties’ rights, duties
and obligations shall be deemed to have become effective, as of 1 st January
2021 and subject to approval from the Lender.

This agreement shall be governed and construed in all respects in accordance with the
laws of Indonesia. In the event of any dispute arising out of or in connection with this
agreement, the parties hereby submit to the non-exclusive jurisdiction of the Indonesia
courts.

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WITNESS whereof this agreement has been duly executed in duplicate by the
authorized representative of the parties hereto.

Dated, 1st January 2021

Lender, Borrower,

Name: Name:
Title: Title:

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