> **DRAFT — a suggestion, not signed off.** Not for signature.

## Loan agreement
Between Northbridge Tankers Ltd (the Lender) and Northbridge Marine Holdings Ltd (the Borrower).
_Source: Transaction record_

## 1. The loan
The Lender advances €6,800,000, repayable [term to be agreed] after drawdown.
_Source: Cash pool statement, maximum balance in the year (invented); measured like a loan by analogy to FAQ question 10_

## 2. Interest
Interest accrues at 3.50% a year, payable quarterly in arrears.
_Source: Per the client (cash pool agreement requested, not yet on file): deposit rate paid by the pool leader (invented); group transfer pricing policy §3_

## 3. Payment
Invoices are payable within 90 days.
_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_