Loan Agreement Amendment (Bankruptcy, Loan, and other Debt Workouts)
Summary
This template is an Amendment to a Loan Agreement executed between a borrower and its lender. This template includes practical guidance and drafting notes. The provisions addressed in a loan amendment will vary based on the type of anticipated default or compliance issue at hand but often include reductions in interest rates, extensions of payment deadlines, adjustments to loan covenants, or changes in collateral securing the loan. Importantly, in considering an amendment, the borrower and the lender should address not only immediately impending issues but also any potential foreseeable defaults that may arise down the road. By doing so, the parties can attempt to avoid the borrower needing to request an additional amendment to the loan documents in the near future. For a full listing of key content covering amendments, consents, and other modifications for loan documents, see Amendments, Consents, and Waivers Resource Kit. For other bankruptcy transactional documents, see Bankruptcy ...