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Loan Amendment Agreement Template for Philippines

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Key Requirements PROMPT example:

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."

Document background
The Loan Amendment Agreement is a crucial document used in the Philippine banking and financial sector when parties need to modify the terms of an existing loan arrangement. This document becomes necessary when circumstances require changes to original loan terms, such as adjusting interest rates, extending maturity dates, revising repayment schedules, or modifying security arrangements. It must comply with Philippine banking regulations, including the New Central Bank Act (Republic Act No. 7653) and Truth in Lending Act (Republic Act No. 3765). The agreement typically requires notarization and proper execution by authorized representatives of all parties. It's particularly important in corporate lending, project finance, and real estate transactions where loan terms may need adjustment due to changing business conditions or regulatory requirements.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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

Relevant legal definitions









































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Relevant Industries

Banking

Financial Services

Real Estate

Construction

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Relevant Teams

Legal

Finance

Treasury

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Compliance

Banking Operations

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Loan Administration

Documentation

Due Diligence

Relevant Roles

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

Industries






Teams

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