Document background
An Amendment To Loan Agreement is a crucial document used when parties need to modify specific terms of an existing loan arrangement without creating an entirely new agreement. It's commonly used in Hong Kong's financial sector when circumstances require adjustments to loan terms, such as extending maturity dates, modifying interest rates, revising repayment schedules, or changing loan amounts. The document must comply with Hong Kong's legal framework, including the Banking Ordinance, Money Lenders Ordinance, and general contract law principles. It's particularly important in commercial lending relationships where flexibility is needed to accommodate changing business conditions or borrower circumstances. The amendment should be carefully drafted to ensure it properly interfaces with the original loan agreement and any related security documents.
