Demand Letter

[LETTERHEAD/ADDRESS OF CREDITOR BANK]

[DATE]

[NAME OF REPRESENTATIVE OF DEBTOR COMPANY]

DEBTOR COMPANY

[ADDRESS OF DEBTOR COMPANY]

Dear [NAME OF REPRESENTATIVE OF DEBTOR COMPANY]:

I refer to the Loan Agreement entered into between CREDITOR BANK and DEBTOR COMPANY into on [DATE OF THE AGREEMENT] (the “Loan Agreement”).  Under Section 5 of the Loan Agreement, DEBTOR COMPANY is required to make quarterly installment payments beginning December 2012 in the amount of Two Million Pesos (P2,000,000.00) (the “December 2012 Installment”). 

It has come to our attention that we have not received the December 2012 Installment.  As such, please settle the December 2012 Installment no later than January 30, 2013.  Please arrange for the payment of this amount by telegraphic transfer in the CREDITOR BANK’s account as provided below:

Beneficiary Bank Name: CREDITOR BANK

Beneficiary Bank Address: 65 Chulia Street OCBC Centre Singapore 049513

Bank SWIFT BIC: OCBCSGSG

CHIPS UID: 010275

If CREDITOR BANK is not in receipt of the stated amount in full by January 30, 2012, CREDITOR BANK may proceed to exercise its rights under Section 30 of the Loan Agreement, including the demand of the entire amount of the loan, as well as the institution of legal proceedings to collect the amount due in full. 

Yours truly,

[REPRESENTATIVE OF CREDITOR BANK]

[CREDITOR BANK]