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1. Parties: Identification of the Lender and Borrower with their full legal names and addresses
2. Background: Recitals describing the original loan agreement, reason for modification, and summary of changes
3. Definitions: Definitions of terms used in the agreement, including references to original loan agreement definitions
4. Modification of Loan Terms: Specific changes to the original loan terms (e.g., interest rate, payment schedule, maturity date)
5. Confirmation of Other Terms: Confirmation that all other terms of the original loan agreement remain unchanged
6. Representations and Warranties: Updated representations from the borrower regarding financial condition and ability to pay
7. Conditions Precedent: Conditions that must be met before the modification becomes effective
8. Fees and Costs: Any fees or costs associated with the modification
9. Governing Law and Jurisdiction: Confirmation of Nigerian law as governing law and jurisdiction for disputes
10. Execution: Signature blocks for all parties and witnesses
1. Additional Security: Required if new collateral is being added as part of the modification
2. Guarantor Consent: Required if the original loan had guarantors who need to consent to the modifications
3. Interest Adjustment Mechanism: Required if the modification includes variable interest rates or complex interest calculations
4. Default Cure Provisions: Include if the modification is being made to address an existing default
5. Release of Claims: Include if parties wish to release any claims arising from the original loan agreement
6. Regulatory Compliance: Required if the modification needs specific regulatory approvals or compliance statements
1. Schedule 1 - Original Loan Agreement: Copy or summary of the original loan agreement being modified
2. Schedule 2 - Modified Payment Schedule: Detailed schedule of new payment terms, amounts, and dates
3. Schedule 3 - Modified Interest Calculations: Details of any changes to interest calculations or rates
4. Schedule 4 - Security Details: Details of any existing or new security arrangements
5. Appendix A - Required Consents: Copies of any required regulatory or third-party consents
6. Appendix B - Supporting Documents: Any additional supporting documents such as board resolutions or power of attorney
Banking & Financial Services
Real Estate
Manufacturing
Agriculture
Oil & Gas
Telecommunications
Construction
Retail
Healthcare
Education
Legal
Finance
Credit Risk
Compliance
Corporate Banking
Treasury
Loan Operations
Commercial Banking
Risk Management
Documentation
Chief Financial Officer
Legal Counsel
Credit Risk Manager
Loan Officer
Compliance Officer
Banking Relationship Manager
Corporate Finance Manager
Treasury Manager
Financial Controller
Credit Analyst
Legal Director
Debt Recovery Officer
Contract Manager
Company Secretary
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