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Loan Amendment Agreement

Loan Amendment Agreement Template for Malaysia

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Key Requirements PROMPT example:

Loan Amendment Agreement

"I need a Loan Amendment Agreement to extend our existing corporate loan's maturity date from March 2025 to December 2025, and reduce the interest rate from 8% to 6.5% per annum."

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Document background
The Loan Amendment Agreement is a crucial document used in Malaysian financial transactions when parties need to modify an existing loan agreement without creating an entirely new contract. This document becomes necessary when circumstances require changes to original loan terms, such as extending the loan period, adjusting interest rates, restructuring repayment schedules, or modifying security arrangements. It must comply with Malaysian banking regulations, particularly the Financial Services Act 2013 and related guidelines issued by Bank Negara Malaysia. The agreement typically includes detailed references to the original loan agreement, specific amendments being made, and confirmations that all other terms remain unchanged. It's essential for both lenders and borrowers in managing their financial relationships and obligations within the Malaysian legal framework.
Suggested Sections

1. Parties: Identification of the lender and borrower, including their full legal names, registration numbers, and registered addresses

2. Background: Recitals detailing the original loan agreement, its date, and the reason for the amendment

3. Definitions: Definitions of key terms, including those from the original agreement that remain applicable and any new terms introduced by the amendment

4. Amendment Effective Date: Specification of when the amendments take effect

5. Amendments to Original Agreement: Detailed description of specific clauses being amended, including both old and new versions

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

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

8. Governing Law and Jurisdiction: Confirmation of Malaysian law as governing law and jurisdiction for dispute resolution

9. Execution: Signature blocks for all parties and witnesses as required under Malaysian law

Optional Sections

1. Security Confirmation: Confirmation of existing security arrangements if the original loan was secured

2. Guarantor Consent: Required if the original loan had guarantors who need to consent to the amendments

3. Conditions Precedent: Any conditions that must be satisfied before the amendments become effective

4. Fee Provisions: Details of any fees payable in connection with the amendment

5. Tax Provisions: Specific tax-related provisions if the amendments have tax implications

6. Regulatory Compliance: Additional provisions required for compliance with specific Malaysian regulatory requirements

Suggested Schedules

1. Schedule 1 - Original Loan Agreement: Copy or summary of the original loan agreement being amended

2. Schedule 2 - Amended Terms: Detailed table showing original vs. amended terms for easy reference

3. Schedule 3 - Conditions Precedent: List of all documents and conditions required before amendment becomes effective

4. Schedule 4 - Amended Payment Schedule: Updated repayment schedule if payment terms are being modified

5. Schedule 5 - Forms: Any required forms or notices related to the amendment

6. Appendix A - Required Authorizations: List of corporate and regulatory authorizations obtained for 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 Industries

Banking and Financial Services

Real Estate and Property Development

Manufacturing

Construction

Agriculture

Mining and Resources

Technology and Communications

Retail and Consumer

Healthcare

Education

Infrastructure Development

Small and Medium Enterprises

Relevant Teams

Legal

Finance

Credit Risk

Compliance

Treasury

Corporate Secretarial

Operations

Documentation

Risk Management

Relationship Management

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Secretary

Finance Manager

Credit Manager

Loan Officer

Relationship Manager

Risk Manager

Compliance Officer

Treasury Manager

Managing Director

Chief Executive Officer

Contract Administrator

Financial Controller

Industries
Contracts Act 1950: Primary legislation governing the formation and enforcement of contracts in Malaysia, including requirements for valid amendments and modifications to existing agreements
Financial Services Act 2013: Regulates financial institutions and banking services in Malaysia, including requirements for loan agreements and their modifications
Stamp Act 1949: Governs the stamping requirements for loan documents and their amendments, which is necessary for legal enforceability
Moneylenders Act 1951: Relevant if the original loan is from a licensed moneylender, governing the terms and conditions of money lending activities
National Land Code 1965: Applicable if the loan involves property as security, governing the registration and enforcement of charges over land
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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