Loan extension agreement

Agreement to extend the performance date of a debt settlement

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About this document

This document as drawn is fit to be used for finalizing terms between a lender and a borrower in extension of a debt resulting in a revised schedule of repayment to come in place.

There is little or no statutory regulation relating to an agreement of this nature, so the parties can make more or less what deal they choose.

Who will use this document?

Any person, company or firm lending or borrowing money irrespective of any business they are into and then wanting to extending the debt term and affecting revision of repayment schedule.

Application and features

  • Very brief with comprehensive provisions;
  • Ready for adaptation to particular needs of either or both parties;
  • Comprehensive provisions provide ideas and address all eventualities;
  • Real law in simple English. No complexities.

Contents

  • The purpose of the agreement;
  • Background;
  • Method and revised schedule of repayment;
  • Conditions on default;
  • Successors and assigns.
Draftsman

This document has been drawn by Rakesh Taneja, unconnected with Net Lawman. Rakesh Taneja will welcome your contact for further legal help. There may be a charge for Rakesh Taneja services.

IN-LDGloa05 - Loan extension agreement

 
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