Loan Agreement Amendment
(Bankruptcy, Loan, and other Debt Workouts)


Summary

This form is an Amendment to Loan Agreement executed between a borrower and its lender. This form 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 more information, see Loan Workouts and Exchange Offers — Amending Agreement. For additional resources, see Out-of-Court Restructuring and Liquidation Alternatives Resource Kit.