The Loan Extension Agreement is utilized when parties to an existing loan arrangement wish to extend the loan's maturity date beyond its original term. This document is essential in Canadian lending practice when borrowers require additional time to repay their loans, but the fundamental lending relationship remains sound. It typically becomes relevant as the original loan maturity date approaches and both parties agree to continue the lending relationship. The agreement must comply with Canadian federal legislation such as the Interest Act and Bank Act, as well as provincial contract laws and consumer protection regulations where applicable. The document includes critical information such as the new maturity date, any modified payment terms, confirmation of existing security arrangements, and conditions precedent to the extension becoming effective. It's particularly important in commercial lending, real estate financing, and corporate borrowing scenarios where loan modifications need to be properly documented to maintain legal enforceability and regulatory compliance.
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let tiktok成人版's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the Lender and Borrower with full legal names and addresses
2. Background: Recitals describing the original loan agreement, its key terms, and the parties' desire to extend the loan
3. Definitions: Key terms used in the agreement, including 'Original Loan Agreement', 'Extension Date', and 'New Maturity Date'
4. Extension of Term: Specific provision extending the loan maturity date and stating the new maturity date
5. Payment Terms: Confirmation of payment schedule during the extended term, including interest rate and payment amounts
6. Conditions Precedent: Conditions that must be satisfied before the extension becomes effective
7. Representations and Warranties: Borrower's confirmation that original representations remain true and no defaults exist
8. Confirmation of Original Agreement: Statement that all other terms of the original loan agreement remain unchanged
9. Costs and Expenses: Allocation of costs related to preparing and executing the extension agreement
10. Governing Law: Specification of applicable Canadian jurisdiction
11. Execution: Signature blocks for all parties
1. Additional Security: Required when new or additional security is being provided as part of the extension
2. Guarantor Consent: Needed when the original loan has guarantors who must consent to the extension
3. Interest Rate Modification: Include when the interest rate is being changed as part of the extension
4. Fee Provisions: Required when an extension fee or other new fees are being charged
5. Insurance Requirements: Include when additional insurance requirements are being added
6. Financial Covenants: Needed when modifying or adding financial covenants for the extended term
7. Prepayment Terms: Include when modifying prepayment rights or penalties
1. Schedule A - Original Loan Agreement: Copy of the original loan agreement being extended
2. Schedule B - Payment Schedule: Updated amortization and payment schedule for the extended term
3. Schedule C - Outstanding Balance Statement: Statement showing current loan balance and payment status
4. Schedule D - Security Documentation: List and copies of existing security documents that remain in effect
5. Schedule E - Guarantor Acknowledgments: Signed acknowledgments from any guarantors if applicable
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate
Commercial Lending
Private Equity
Corporate Finance
Mortgage Services
Construction & Development
Small Business Services
Asset Management
Infrastructure
Relevant Teams
Legal
Finance
Credit Risk
Commercial Banking
Compliance
Treasury
Loan Administration
Portfolio Management
Risk Management
Corporate Banking
Relevant Roles
Chief Financial Officer
Finance Director
Loan Officer
Credit Manager
Legal Counsel
Corporate Lawyer
Risk Manager
Commercial Banking Manager
Treasury Manager
Compliance Officer
Portfolio Manager
Relationship Manager
Credit Analyst
Loan Administrator
Financial Controller
Find the exact document you need
Loan Agreement With Co Maker
A Canadian-law governed loan agreement establishing terms between a lender, borrower, and co-maker, with shared repayment responsibility.
find out more
Family Loan Contract
A Canadian legal agreement formalizing monetary loans between family members, establishing terms, conditions, and repayment obligations while complying with federal and provincial laws.
find out more
Take Over Car Loan Payments Contract
A Canadian legal agreement facilitating the transfer of car loan payment obligations from an original borrower to a new borrower, outlining terms and protecting all parties' interests.
find out more
Repayment Of Debt Agreement
A Canadian-law governed agreement establishing formal terms for debt repayment, including payment schedule, interest rates, and default provisions.
find out more
Private Lending Agreement
A Canadian-law governed agreement establishing terms and conditions for a private loan between parties, including loan amount, interest, repayment terms, and security arrangements.
find out more
Pre Contract Agreement Car (Finance)
A Canadian jurisdiction preliminary agreement outlining terms and conditions for potential vehicle financing, serving as a precursor to the final finance contract.
find out more
Cellphone Loan Agreement
A Canadian-law governed agreement establishing terms and conditions for mobile device loans, including usage rights, responsibilities, and return requirements.
find out more
Car Payment Agreement Form
A Canadian legal document establishing terms and conditions for vehicle payment arrangements, including purchase details, payment schedules, and party obligations.
find out more
Agreement Between Co Signer And Borrower
A Canadian legal agreement defining the relationship and obligations between a co-signer and borrower for a loan guarantee, governed by federal and provincial laws.
find out more
Friendship Loan Agreement
A Canadian legal document formalizing a loan agreement between friends, establishing clear terms while complying with federal and provincial lending laws.
find out more
Syndicated Facility Agreement
Canadian law-governed agreement establishing terms for a syndicated loan facility provided by multiple lenders to a borrower, including loan terms, parties' rights, and obligations.
find out more
Private Loan Agreement For (Real Estate)
A Canadian-law governed agreement establishing terms and conditions for a private loan secured by real estate property, including loan terms, security arrangements, and party obligations.
find out more
Peer To Peer Lending Agreement
A Canadian-law governed agreement establishing terms and conditions for direct lending between private individuals, including loan terms, interest rates, and mutual obligations.
find out more
Revolving Credit Contract
A Canadian law-governed agreement establishing a revolving credit facility that allows for multiple draw-downs and repayments up to a specified credit limit.
find out more
Family Member Promissory Note
A Canadian legal document formalizing loan agreements between family members, establishing terms, conditions, and repayment obligations in compliance with federal and provincial regulations.
find out more
Vendor Finance Loan Agreement
Canadian-law governed agreement establishing terms for vendor-provided financing for goods or equipment purchase, including loan terms, security, and enforcement provisions.
find out more
Fixed Sum Loan Agreement Early Settlement
Canadian-law governed fixed-sum loan agreement with early settlement provisions, compliant with federal and provincial lending regulations.
find out more
Employee Loan Agreement Interest
A Canadian-law governed agreement establishing terms for an employer-provided loan to an employee, including interest rates, repayment terms, and compliance with relevant regulations.
find out more
Acknowledgement Of Debt Agreement
A Canadian legal document formally acknowledging a debt obligation and establishing repayment terms, governed by federal and provincial laws.
find out more
Construction Loan Contract
A legal agreement governing construction project financing in Canada, outlining loan terms, construction requirements, and compliance with federal and provincial regulations.
find out more
Demand Loan
A Canadian jurisdiction agreement establishing terms for a loan that can be called for repayment at any time by the lender, including amount, interest, and parties' obligations.
find out more
Home Equity Loan Agreement
A Canadian-law governed agreement establishing terms for borrowing against home equity, detailing loan conditions, security arrangements, and compliance with federal and provincial regulations.
find out more
Inter Lender Agreement
A Canadian-law governed agreement establishing priorities and relationships between multiple lenders providing financing to the same borrower.
find out more
Overagreement
Canadian master agreement establishing framework terms for ongoing business relationships and subsequent agreements.
find out more
Facility Letter Mortgage
A Canadian legal document combining credit facility terms with mortgage security requirements, setting out the conditions for property-secured lending under Canadian federal and provincial regulations.
find out more
Credit Terms Agreement
A Canadian-law governed agreement establishing credit terms between parties, including credit limits, interest rates, and payment conditions in compliance with federal and provincial regulations.
find out more
Assignment Of Loan Agreement
A Canadian legal document transferring loan rights and obligations from one lender to another, compliant with federal and provincial regulations.
find out more
Agreement Between Two Persons For Money
A Canadian-law governed agreement documenting a monetary loan between two individuals, establishing loan terms, repayment conditions, and legal obligations.
find out more
Subordinated Loan Agreement
A Canadian-law governed agreement establishing terms for a subordinated loan and its ranking below senior debt obligations.
find out more
Work Loan Agreement
A Canadian legal agreement establishing terms for an employer-provided loan to an employee, including repayment terms and employment relationship considerations.
find out more
Peer To Peer Lending Contract
A Canadian-law governed agreement establishing terms and conditions for direct lending between private individuals, including loan terms, obligations, and regulatory compliance requirements.
find out more
Letter To Borrow Money From Friend
A Canadian-compliant formal letter documenting a personal loan agreement between friends, establishing loan terms while maintaining legal validity under Canadian law.
find out more
Student Loan Agreement
A Canadian-law governed agreement establishing terms and conditions for student financial assistance, compliant with federal and provincial student loan regulations.
find out more
Simple Loan Application Form
A Canadian-compliant loan application form for collecting borrower information and required disclosures under federal and provincial lending regulations.
find out more
Private Lending Term Sheet
A Canadian-compliant document outlining key terms and conditions for a private lending arrangement, serving as the foundation for a final loan agreement.
find out more
Personal Loan Receipt
A Canadian-compliant document acknowledging receipt of a personal loan, specifying loan amount, terms, and parties' obligations.
find out more
Payday Loan Contract
Canadian payday loan agreement template compliant with federal and provincial regulations, governing short-term consumer loans with mandatory disclosures and protections.
find out more
Loan Note
A Canadian-law governed financial instrument documenting loan terms, repayment obligations, and security arrangements between lender and borrower.
find out more
Investment Loan Contract
A Canadian-law governed agreement establishing terms for an investment-purposed loan, including loan terms, investment parameters, and regulatory compliance requirements.
find out more
Facility Agreement
A Canadian law-governed agreement establishing terms for providing credit facilities, including loan terms, security arrangements, and compliance with Canadian banking regulations.
find out more
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)