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## Loan agreement
Between Aegean Crest Shipping Three Inc. (the Lender) and Aegean Crest Navigation Inc. (the Borrower).
_Source: Transaction record_

## 1. The loan
The Lender advances €2,100,000, repayable [term to be agreed] after drawdown.
_Source: Sale proceeds of m/v Aegean Star left with Navigation Inc., maximum in the year (invented)_

## 2. Interest
Interest accrues at [rate to be agreed] a year, payable quarterly in arrears.
_Source: Not in the file; group transfer pricing policy §3_

## 3. Payment
Payment terms [to be agreed].
_Source: Group transfer pricing policy_

## 4. Risks
[to be agreed: no risk analysis in the file]
_Source: Functional analysis, risks_

## 5. Arm's length
The parties intend the terms to be at arm's length and will adjust them if a review shows they are not.
_Source: OECD Guidelines 1.6; Income Tax Law s.33(6)_

## 6. Term and law
Effective from 1 January of the year; [term, termination and governing law to be agreed by the parties].
_Source: Not in the file_