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Loan Amendment Agreement
"I need a Loan Amendment Agreement to extend the maturity date of our existing corporate loan from March 2025 to December 2025, and adjust the interest rate from 8% to 7.5% per annum for a PHP 50 million facility with ABC Banking Corporation."
1. Parties: Identifies all parties to the amendment agreement, including the lender and borrower as named in the original loan agreement
2. Background: Recitals explaining the original loan agreement details, reason for amendment, and confirmation that all parties agree to the modifications
3. Definitions: Defines key terms used in the amendment agreement and incorporates definitions from the original loan agreement
4. Interpretation: Explains how the amendment agreement relates to and should be read with the original loan agreement
5. Amendments: Clearly specifies each modification to the original loan agreement, with reference to specific clauses being amended
6. Effective Date: Specifies when the amendments take effect and any conditions precedent
7. Continuing Effect: Confirms that all other terms of the original loan agreement remain in full force and effect
8. Representations and Warranties: Updated representations and warranties from the parties regarding their capacity and authority to enter into the amendment
9. Governing Law and Jurisdiction: Confirms Philippine law governs the amendment agreement and specifies jurisdiction for disputes
10. Execution: Signature blocks for all parties and witness requirements
1. Additional Security: Required when the amendment involves changes to or addition of security/collateral arrangements
2. Guarantor's Consent: Needed when the original loan has guarantors who must consent to the amendments
3. Conditions Precedent: Used when there are specific conditions that must be met before the amendments become effective
4. Fee Provisions: Include when there are amendment fees or changes to existing fee structures
5. Tax Provisions: Required when the amendments have tax implications that need to be addressed
6. Regulatory Compliance: Needed when amendments must address specific regulatory requirements or changes
7. Notice Requirements: Include when establishing new or modified notice requirements between parties
1. Schedule of Amendments: Detailed table or list showing original clauses and their amended versions
2. Amended Repayment Schedule: If payment terms are modified, provides updated payment amounts and dates
3. Updated Security Details: If applicable, lists modified or new security arrangements and their terms
4. Form of Notices: Templates for any notices required under the amended agreement
5. Conditions Precedent Checklist: List of documents and conditions required before amendments take effect
6. Corporate Authorizations: Copies of relevant corporate approvals and resolutions authorizing the amendment
Authors
Banking
Financial Services
Real Estate
Construction
Manufacturing
Agriculture
Infrastructure
Retail
Technology
Transportation
Energy
Healthcare
Education
Telecommunications
Legal
Finance
Treasury
Credit Risk
Compliance
Banking Operations
Corporate Banking
Loan Administration
Documentation
Due Diligence
Chief Financial Officer
Finance Director
Treasury Manager
Loan Officer
Credit Risk Manager
Legal Counsel
Corporate Lawyer
Compliance Officer
Banking Operations Manager
Relationship Manager
Credit Analyst
Financial Controller
Due Diligence Officer
Documentation Specialist
Contract Administrator
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