Bond Waiver Template for Germany

A Bond Waiver is utilized when certain terms or conditions in an existing bond agreement need to be temporarily or permanently waived, typically in response to changing market conditions, financial circumstances, or corporate restructuring needs. The document is particularly relevant in the German market where bond modifications are governed by the strict requirements of the Schuldverschreibungsgesetz (SchVG) and the Bürgerliches Gesetzbuch (BGB). Bond Waivers must carefully balance the interests of both issuers and bondholders, often requiring formal bondholder approval through prescribed voting procedures. The document needs to clearly specify which provisions are being waived, for how long, and under what conditions, while ensuring compliance with German securities laws and regulations. It's a crucial tool in debt management and restructuring scenarios, providing flexibility while maintaining legal certainty for all parties involved.

1. Parties: Identification of the Bondholder(s) and the Bond Issuer, including their full legal names, registration details, and addresses

2. Background: Context of the original bond issuance, key terms of the bonds, and circumstances leading to the waiver

3. Definitions: Definitions of key terms used throughout the waiver document, including references to the original bond documentation

4. Waiver Details: Specific provisions or conditions being waived, including precise reference to the relevant sections of the original bond documentation

5. Duration of Waiver: Specification of whether the waiver is permanent or temporary, and if temporary, the precise duration or conditions for expiration

6. Consideration: Any consideration or compensation provided in exchange for the waiver, if applicable

7. Reservation of Rights: Clarification that the waiver is limited to specific provisions and does not constitute a waiver of other rights

8. Representations and Warranties: Confirmations from both parties regarding their authority to enter into the waiver and other relevant matters

9. Governing Law and Jurisdiction: Confirmation of German law as governing law and specification of jurisdiction for disputes