> For the complete documentation index, see [llms.txt](https://quantixfinance.gitbook.io/quantixfinance-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://quantixfinance.gitbook.io/quantixfinance-docs/legal/borrower-mla.md).

# Borrower MLA

Prior to the disbursement of any funds, all borrowers execute a Master Loan Agreement (the "Agreement") governed by the laws of the Gelephu Mindfulness City Special Administrative Region, Kingdom of Bhutan. The Agreement is legally binding and establishes the Lender's right to pursue all available remedies against the borrower in the event of default, including enforcement against pledged collateral and recourse against the borrowing entity's assets.

The Agreement incorporates an exclusive jurisdiction clause submitting disputes to the courts of Gelephu Mindfulness City.

In the event of a default, recovered amounts are applied in the following order:

i) Collateral is liquidated where the facility is secured, subject to the pool's per-default liquidation limit;

ii) The delegate's first-loss capital absorbs the next tranche of loss, up to its committed amount;

iii) Any remaining shortfall is borne by lender principal on a pro-rata basis;

iv) Legal recourse under the Agreement, including any cross-default rights, applies against the borrowing entity beyond the on-chain waterfall.

The full Agreement is executed by borrowers as a condition precedent to any drawdown. For questions about KYC or legal agreements, reach out to <contact@quantixfinance.xyz>