The Loan Termination Agreement is a crucial document used when parties wish to formally conclude a lending relationship under Malaysian law, whether due to early repayment, refinancing, or mutual agreement to end the loan obligations. This document is essential in Malaysian banking and financial services to ensure proper documentation of loan conclusions and compliance with local regulations. The agreement typically includes details of the original loan, outstanding amounts, settlement terms, and releases, while ensuring compliance with Malaysian banking regulations and the Financial Services Act 2013. It provides protection for both lenders and borrowers by clearly documenting the termination terms and preventing future disputes.
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1. Parties: Identification of the lender and borrower with complete legal names and addresses
2. Background: Recitals detailing the original loan agreement, its date, and key terms
3. Definitions: Definitions of key terms used throughout the agreement
4. Acknowledgment of Debt: Statement of the current outstanding amount and acknowledgment by both parties
5. Termination Terms: Specific terms and conditions of the loan termination
6. Settlement Amount: Details of any final payment or settlement sum
7. Release and Discharge: Mutual release of obligations and claims related to the loan
8. Representations and Warranties: Statements affirming the parties' authority and capacity to enter into the termination
9. Governing Law: Specification of Malaysian law as the governing law
10. Execution: Signature blocks and execution details
1. Third Party Rights: Required when there are guarantors or other third parties involved in the original loan
2. Confidentiality: Include when parties wish to keep the termination terms confidential
3. Tax Provisions: Include when there are specific tax implications that need to be addressed
4. Dispute Resolution: Include when parties want to specify particular dispute resolution mechanisms
5. Survival Clauses: Include when certain provisions need to survive the termination
6. Return of Security: Include when there are security documents or collateral to be returned
1. Schedule 1 - Original Loan Agreement: Copy or details of the original loan agreement being terminated
2. Schedule 2 - Outstanding Amount Calculation: Detailed calculation of the final settlement amount including principal, interest, and any fees
3. Schedule 3 - Payment Schedule: If the termination involves installment payments, details of the payment schedule
4. Schedule 4 - Security Documents: List of security documents to be released or returned
5. Appendix A - Required Notices: Forms of any notices required to be given under the termination agreement
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Real Estate
Construction
Manufacturing
Commercial Lending
Corporate Finance
Small and Medium Enterprises
Retail Banking
Investment Banking
Relevant Teams
Legal
Finance
Credit
Compliance
Risk Management
Treasury
Corporate Secretariat
Collections
Commercial Banking
Corporate Finance
Relevant Roles
Legal Counsel
Finance Manager
Credit Officer
Loan Officer
Compliance Officer
Risk Manager
Corporate Secretary
Financial Controller
Treasury Manager
Banking Relationship Manager
Contract Administrator
Chief Financial Officer
Legal Director
Collections Manager
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