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Addendum Loan Agreement
"I need an Addendum Loan Agreement to modify an existing commercial loan agreement with ABC Bank Ltd by extending the repayment period by 24 months and adjusting the interest rate from 8.5% to 7.25%, effective March 1, 2025."
1. Parties: Identification of all parties to the original loan agreement, including their full legal names, registration/identity numbers, and addresses
2. Background: Reference to the original loan agreement (date, parties), reason for the addendum, and confirmation that this addendum should be read with the original agreement
3. Definitions: Key terms used in the addendum, including reference to definitions in the original agreement that remain applicable
4. Amendment Effective Date: The date from which the modifications will take effect
5. Amendments to Original Agreement: Detailed description of specific clauses being modified, deleted, or added to the original agreement
6. Ratification: Confirmation that all other terms of the original agreement remain unchanged and in full force and effect
7. Representations and Warranties: Confirmation that original representations remain true and any new representations specific to the amendment
8. Costs: Allocation of costs related to the preparation and execution of the addendum
9. Signatures: Execution clause and signature blocks for all parties
1. Conditions Precedent: Required when the amendments are subject to fulfillment of specific conditions before becoming effective
2. Security Arrangements: Used when modifications affect existing security or require additional security
3. Consent of Third Parties: Required when the original agreement involves guarantors or security providers whose consent is needed
4. Currency Provisions: Included when the amendment involves changes to the currency of the loan or payment terms
5. Tax Provisions: Added when the amendments have specific tax implications that need to be addressed
6. Regulatory Compliance: Required when amendments need to address specific regulatory requirements or changes
1. Schedule of Amended Terms: Detailed list of specific terms being amended, showing both original and new versions
2. Revised Payment Schedule: Updated amortization schedule or payment terms if the amendment affects payment structure
3. Compliance Certificates: Any required certificates confirming compliance with loan conditions or regulatory requirements
4. Security Documents: Copies or references to any modified or new security documents
5. Consent Documents: Copies of consent from relevant third parties (if applicable)
6. Powers of Attorney: If new signatories are involved, their authorization documents
Authors
Addendum Effective Date
Amended Agreement
Amendment Fee
Original Agreement
Original Loan Amount
Revised Interest Rate
Revised Loan Amount
Revised Maturity Date
Revised Payment Date
Revised Payment Schedule
Revised Security
Additional Security
Amended Terms
Applicable Law
Business Day
Conditions Precedent
Consent Documents
Credit Provider
Consumer
Event of Default
Existing Security
Financial Indebtedness
Governing Law
Interest Period
Material Adverse Effect
Modified Terms
National Credit Act
Original Parties
Outstanding Amount
Ratification Date
Reference Rate
Regulatory Authority
Signature Date
Unamended Terms
Amendment
Effective Date
Interest Rate
Repayment Terms
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Fees and Costs
Notice Requirements
Ratification
Further Assurance
Severability
Entire Agreement
Governing Law
Jurisdiction
Assignment
Counterparts
Third Party Rights
Compliance
Force Majeure
Dispute Resolution
Confidentiality
Waiver
Indemnification
Regulatory Compliance
Consent
Electronic Execution
Banking & Financial Services
Real Estate
Manufacturing
Mining
Retail
Agriculture
Technology
Healthcare
Construction
Transportation & Logistics
Energy & Utilities
Telecommunications
Legal
Finance
Compliance
Risk Management
Treasury
Credit Administration
Corporate Banking
Commercial Lending
Documentation
Corporate Secretariat
Legal Counsel
Finance Manager
Credit Manager
Compliance Officer
Risk Manager
Corporate Banker
Loan Officer
Contract Administrator
Treasury Manager
Chief Financial Officer
Company Secretary
Commercial Director
Banking Relationship Manager
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