Loan Amendment Agreement

This Loan Amendment Agreement is a simple agreement for varying an existing loan agreement. It can be used for anything from minor administrative updates to more substantive changes, such as increasing the loan amount or extending the term.

When You Might Use A Loan Amendment Agreement

Amendments are often needed where a borrower is (or expects to be) in breach of the loan terms and notifies the lender, and the parties agree to change one or more terms as a result. If there are a large number of changes, it may be more practical to replace the original agreement with a new loan agreement rather than make multiple amendments.

How It Fits With Other Loan Templates

Any amendments must be made in accordance with the variation provisions in the original loan agreement. This amendment agreement is designed to dovetail with the relevant amendment provision in our Long Form Loan Agreement.

Security Assumption

This agreement assumes that there is no security in place.

Consumer Credit Act Point

NOTE: This document is not intended to be regulated by the Consumer Credit Act 1974 which requires that businesses that lend money to consumers must be licensed to do so by the OFT.

Loan Amendment Agreement is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.