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Loan Extension Agreement for the Netherlands

Loan Extension Agreement Template for Netherlands

A Loan Extension Agreement under Dutch law (governed by the Dutch Civil Code - Burgerlijk Wetboek) is a legal document that modifies an existing loan agreement by extending its maturity date and potentially adjusting other terms. The agreement documents the parties' consent to continue the lending arrangement beyond the original term, specifying the new duration, any modified terms, and confirming the continuation of existing security arrangements. It ensures compliance with Dutch financial regulations and banking requirements while maintaining the enforceability of the original loan's terms and conditions that are not explicitly modified.

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Loan Extension Agreement

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What is a Loan Extension Agreement?

The Loan Extension Agreement is a crucial document used when parties wish to extend the term of an existing loan rather than refinancing or creating a new loan agreement. It is commonly used in the Netherlands when borrowers require additional time to repay their loans, or when commercial circumstances make it beneficial for both parties to continue the lending relationship beyond the original term. The document must comply with Dutch civil law requirements and, where applicable, financial regulations (Wet op het financieel toezicht). The agreement typically includes confirmation of the outstanding amount, the new maturity date, any modified terms (such as interest rates or payment schedules), and ensures the continuation of security arrangements. It's particularly relevant in commercial lending scenarios where the original loan terms were well-structured but additional time is needed for repayment.

What sections should be included in a Loan Extension Agreement?

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 reason for extension

3. Definitions: Definitions of key terms, including 'Original Loan Agreement', 'Extension Period', and any other relevant terms

4. Extension of Loan: Core provision extending the term of the loan, specifying the new maturity date

5. Confirmation of Amount Outstanding: Statement of the current outstanding principal and any accrued interest as of the extension date

6. Continuation of Terms: Confirmation that all other terms of the Original Loan Agreement remain in full force and effect

7. Conditions Precedent: Conditions that must be satisfied before the extension becomes effective

8. Representations and Warranties: Updated representations and warranties from the Borrower

9. Governing Law and Jurisdiction: Specification of Dutch law as governing law and jurisdiction for disputes

10. Counterparts and Execution: Provisions for signing the agreement

What sections are optional to include in a Loan Extension Agreement?

1. Interest Rate Modification: Include if there are any changes to the interest rate for the extension period

2. Payment Schedule Modification: Include if there are changes to the payment schedule or amounts

3. Additional Security: Include if new security is being provided for the extension period

4. Guarantor Consent: Include if there are guarantors who need to consent to the extension

5. Fee Provisions: Include if there are any extension fees or new charges

6. Amendment to Other Terms: Include if any other terms of the original agreement are being modified

7. Tax Provisions: Include if there are specific tax implications that need to be addressed

8. Default Cure: Include if the extension is being used to cure an existing default

What schedules should be included in a Loan Extension Agreement?

1. Schedule 1 - Original Loan Agreement: Copy or summary of the original loan agreement being extended

2. Schedule 2 - Updated Repayment Schedule: Detailed schedule of repayment dates and amounts under the extension

3. Schedule 3 - Conditions Precedent Documents: List of all documents required to be delivered for the extension to take effect

4. Schedule 4 - Security Confirmation: Details of existing security and confirmation of its continuation

5. Appendix A - Form of Compliance Certificate: Template for ongoing compliance certification if required

6. Appendix B - Notice Requirements: Details of how and where notices must be delivered under the extended agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Netherlands

Document Type

Loan Agreement

Sector

Banking

Cost

Free to use
Relevant legal definitions








































Clauses


































Relevant Industries

Financial Services

Banking

Real Estate

Commercial Property

Manufacturing

Retail

Healthcare

Technology

Agriculture

Construction

Energy

Transportation

Hospitality

Professional Services

Relevant Teams

Legal

Finance

Treasury

Credit Risk

Compliance

Corporate Banking

Loan Administration

Commercial Banking

Risk Management

Corporate Finance

Business Development

Account Management

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Financial Controller

Legal Counsel

Corporate Lawyer

Loan Officer

Credit Manager

Risk Manager

Compliance Officer

Banking Relationship Manager

Corporate Banking Manager

Business Development Manager

Account Manager

Portfolio Manager

Debt Restructuring Specialist

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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