Borrower's Waiver Request to Lender (Loan Agreement)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
📃 Waiver request letterBusiness activity
Request waiverA waiver request letter is a formal request to have something waived. This could be a fee, a rule, or anything else. The letter should state why the waiver is being requested and what the person is willing to do in exchange for the waiver.
The template would likely outline the borrower's request for a specific waiver clause defined within the loan agreement. It may require the borrower to provide detailed information regarding why the waiver is being sought, such as any financial or personal circumstances that have arisen, making it difficult to meet certain loan obligations.
Furthermore, the document may clarify the specific terms and conditions of the waiver being sought, such as extending the loan repayment period, reducing interest rates, or altering specific requirements of the loan agreement.
This legal template would serve to help the borrower communicate their waiver request to the lender in a structured and formal manner, in compliance with the laws of the United Kingdom. It provides a clear framework for both parties to consider and negotiate any changes to the loan agreement while ensuring that the request is legally binding and enforceable.
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