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Loan Forbearance Agreement
1. Parties: Identification of the lender and borrower, including full legal names, registration numbers, and addresses
2. Background: Context of the original loan agreement, current circumstances necessitating forbearance, and reference to the original loan agreement
3. Definitions: Key terms used throughout the agreement, including 'Forbearance Period', 'Original Loan Agreement', 'Modified Payment Terms'
4. Acknowledgment of Debt: Confirmation of the outstanding loan amount and borrower's acknowledgment of the debt
5. Forbearance Terms: Specific terms of the forbearance including duration, modified payment schedule, and any conditions precedent
6. Representations and Warranties: Borrower's confirmations regarding financial condition, ability to pay, and accuracy of information provided
7. Continued Validity of Loan Documents: Confirmation that original loan agreement terms remain in effect except as modified by this agreement
8. Events of Default: Circumstances that would terminate the forbearance arrangement and trigger immediate payment obligation
9. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction for dispute resolution
10. Execution: Signature blocks and execution requirements for all parties
1. Additional Security: Required when new collateral or security is being provided as part of the forbearance arrangement
2. Guarantor Consent: Needed when the original loan has guarantors who must consent to the forbearance terms
3. Interest Rate Modifications: Include when the forbearance arrangement involves changes to the interest rate structure
4. Fees and Costs: Required when there are specific fees associated with the forbearance arrangement
5. Reporting Requirements: Include when the borrower must provide ongoing financial reporting during the forbearance period
6. Step-Up Provisions: Used when implementing a gradual return to normal payment levels
7. Early Termination Rights: Include when either party has specific rights to terminate the forbearance early
1. Schedule 1 - Original Loan Details: Summary of the original loan agreement including date, amount, and key terms
2. Schedule 2 - Current Debt Statement: Detailed breakdown of the current outstanding debt including principal, interest, and any fees
3. Schedule 3 - Modified Payment Schedule: Detailed schedule of modified payments including dates, amounts, and allocation between principal and interest
4. Schedule 4 - Required Documents: List of documents required from the borrower as conditions precedent
5. Appendix A - Compliance Certificate: Template for periodic certification of compliance with forbearance terms
Authors
Original Loan Agreement
Effective Date
Forbearance Period
Modified Payment Terms
Outstanding Balance
Default Interest Rate
Business Day
Conditions Precedent
Event of Default
Forbearance Termination Event
Interest Payment Date
Modified Interest Rate
Original Payment Schedule
Modified Payment Schedule
Security Documents
Secured Obligations
Compliance Certificate
Financial Statements
Material Adverse Change
Permitted Payments
Related Documents
Required Payments
Danish Business Day
Guarantor
Security Provider
Existing Security
Additional Security
Enforcement Action
Restructuring Plan
Cure Period
Payment Default
Regulatory Authority
Danish Law Requirements
Payment Terms
Interest Rate
Forbearance Period
Conditions Precedent
Representations and Warranties
Covenants
Security
Default
Termination
Force Majeure
Indemnification
Assignment
Notices
Confidentiality
Amendment
Severability
Entire Agreement
Governing Law
Jurisdiction
Dispute Resolution
Compliance with Laws
Further Assurance
Costs and Expenses
Waiver
Reporting Requirements
Security Enforcement
Guarantees
Set-off Rights
Acceleration
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