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Loan Amendment Agreement

Loan Amendment Agreement Template for Australia

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Key Requirements PROMPT example:

Loan Amendment Agreement

"I need a Loan Amendment Agreement to modify an existing commercial loan facility by increasing the interest rate by 0.5% and extending the loan term until March 2025, while keeping all other terms unchanged."

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Document background
A Loan Amendment Agreement is essential when parties need to modify the terms of an existing loan arrangement while maintaining the fundamental lending relationship. This document is commonly used in Australia when circumstances require adjustments to loan terms, such as extending the loan period, modifying interest rates, changing repayment schedules, or updating security arrangements. The agreement must comply with Australian banking regulations, including the National Consumer Credit Protection Act 2009 (Cth) for consumer loans, and the Personal Property Securities Act 2009 (Cth) for secured lending. It's particularly crucial in corporate and commercial lending scenarios where flexibility in loan terms may be needed to accommodate changing business conditions or borrower circumstances.
Suggested Sections

1. Parties: Identifies all parties to the amendment agreement, including the original lender(s), borrower(s), and any new parties being added

2. Background: Recitals explaining the context of the original loan agreement and the reason for amendments

3. Definitions and Interpretation: Defines key terms used in the amendment agreement and explains how it relates to definitions in the original agreement

4. Amendment Effective Date: Specifies when the amendments take effect

5. Amendments to Original Agreement: Details of specific clauses being amended, replaced, or deleted

6. Confirmation of Other Terms: Confirms that all other terms of the original agreement remain in full force and effect

7. Representations and Warranties: Updated or reaffirmed representations and warranties from the borrower

8. Conditions Precedent: Conditions that must be satisfied before the amendments become effective

9. Costs and Expenses: Allocation of costs related to the preparation and execution of the amendment

10. Governing Law and Jurisdiction: Confirms the governing law and jurisdiction for the amendment agreement

Optional Sections

1. Security Confirmation: Confirms existing security arrangements remain in place - include when the original loan is secured

2. Additional Security: Details of any new security being provided - include when new security is being added

3. Guarantor Consent: Consent from existing guarantors to the amendments - include when there are guarantors

4. Financial Covenants Amendments: Modified financial covenants - include when financial covenants are being changed

5. Fee Provisions: Details of any amendment or additional fees - include when new fees are being introduced

6. Additional Lenders: Provisions for new lenders joining the facility - include in syndicated facilities when new lenders are joining

7. Interest Rate Amendments: Modified interest rate provisions - include when interest terms are being changed

Suggested Schedules

1. Original Loan Agreement: Copy or details of the original loan agreement being amended

2. Schedule of Amendments: Detailed table or list of specific amendments to the original agreement

3. Amended and Restated Loan Agreement: Complete version of the loan agreement incorporating all amendments (if using this format)

4. Conditions Precedent Documents: List of documents required to satisfy conditions precedent

5. Modified Payment Schedule: Updated repayment schedule if payment terms are being modified

6. Form of Notice Requirements: Templates for any notices required under the amendment

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Amendment Date
Amendment Effective Date
Amended Facility Agreement
Original Facility Agreement
Original Lender
Continuing Provisions
Amended Terms
Amended Repayment Schedule
Facility
Financial Indebtedness
Secured Property
Security Interest
Guarantor
Security Provider
Outstanding Amount
Amendment Fee
Conditions Precedent
Default
Event of Default
Interest Rate
Margin
Base Rate
Business Day
Permitted Security Interest
Related Body Corporate
Security Documents
Transaction Documents
Termination Date
Amended Facility Limit
Relevant Jurisdiction
Auth orised Officer
Finance Documents
Material Adverse Effect
Repeating Representations
Additional Security
Secured Obligations
Amendment Documents
Effective Date Conditions
Existing Security
New Security
Permitted Financial Indebtedness
Reference Banks
Screen Rate
Security Trust
Security Trustee
Clauses
Interpretation
Amendment
Conditions Precedent
Representations and Warranties
Security
Guarantees
Interest
Fees
Repayment
Prepayment
Events of Default
Financial Covenants
Information Undertakings
General Undertakings
Assignment and Transfer
Costs and Expenses
Notices
Confirmations
Set-off
Severability
Governing Law
Jurisdiction
Counterparts
Entire Agreement
Further Assurance
Confidentiality
Tax
Indemnities
Payment Mechanics
Agency
Security Trust
Force Majeure
Regulatory Compliance
Anti-Money Laundering
Relevant Industries

Banking & Financial Services

Corporate Lending

Real Estate & Property

Infrastructure & Construction

Mining & Resources

Agriculture

Retail & Commercial

Manufacturing

Healthcare

Technology

Professional Services

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Credit

Corporate Banking

Loan Operations

Commercial Banking

Documentation

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Corporate Lawyer

Compliance Officer

Credit Manager

Relationship Manager

Risk Manager

Banking Officer

Loan Officer

Company Secretary

Financial Controller

Banking Executive

Credit Analyst

Industries
National Consumer Credit Protection Act 2009 (Cth): Primary legislation governing consumer credit in Australia, including requirements for credit providers, responsible lending obligations, and consumer protections
Australian Securities and Investments Commission Act 2001 (Cth): Regulates financial services and products, including provisions against misleading or deceptive conduct in financial services
Personal Property Securities Act 2009 (Cth): Governs the registration and enforcement of security interests in personal property, relevant if the loan involves any security
Banking Act 1959 (Cth): Provides the framework for banking regulation in Australia, including provisions relating to banking business and banking licenses
Financial Sector (Collection of Data) Act 2001 (Cth): Deals with reporting requirements for financial institutions, which may be relevant for regulatory compliance
Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth): Contains requirements for customer identification and transaction monitoring that may be relevant to loan modifications
Australian Contract Law (Common Law): Fundamental principles of contract law governing formation, variation, and enforcement of contracts, including principles of consideration for contract amendments
Competition and Consumer Act 2010 (Cth): Contains the Australian Consumer Law, which includes provisions against unfair contract terms and unconscionable conduct
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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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