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Deferment Agreement
"I need a Deferment Agreement under Belgian law to postpone a €500,000 equipment purchase payment that's currently due in March 2025 to July 2025, with monthly interest payments during the deferment period."
1. Parties: Identification and details of all parties to the agreement, including their legal capacity and registered addresses
2. Background: Context of the original obligation and reasons for seeking deferment
3. Definitions: Definitions of key terms used throughout the agreement
4. Original Obligation: Details of the original payment obligation being deferred, including original amount and due date
5. Deferment Terms: Specific terms of the deferment, including new payment date(s) and any conditions attached
6. Interest and Charges: Any interest or additional charges applicable during the deferment period
7. Payment Terms: Method and timing of payments under the new arrangement
8. Default Provisions: Consequences of failing to meet the deferred payment obligations
9. Representations and Warranties: Statements of fact and promises made by each party
10. Governing Law and Jurisdiction: Confirmation of Belgian law as governing law and jurisdiction for disputes
1. Security: Details of any security or guarantees required for the deferment, used when additional security is being provided
2. Tax Provisions: Specific tax implications and responsibilities, included when there are significant tax considerations
3. Force Majeure: Provisions for unforeseen circumstances affecting payment ability, included for longer deferment periods
4. Early Payment Provisions: Terms for early repayment options, included when early repayment is permitted
5. Third Party Rights: Rights of any third parties affected by the deferment, included when third parties have interests in the original obligation
6. Confidentiality: Provisions for keeping the deferment terms confidential, included for sensitive commercial arrangements
1. Payment Schedule: Detailed schedule of deferred payment dates and amounts
2. Original Contract: Copy of the original contract or agreement containing the obligation being deferred
3. Financial Information: Current financial information of the debtor justifying the deferment
4. Security Documentation: Details and copies of any security documents if security is being provided
5. Authorization Documents: Corporate or other authorizations required to enter into the deferment agreement
Authors
Business Day
Creditor
Debtor
Default Event
Default Interest Rate
Deferment Period
Deferred Amount
Due Date
Effective Date
Existing Security
Interest Rate
New Payment Date
Original Agreement
Original Due Date
Original Obligation
Original Payment Terms
Payment Schedule
Permitted Payment
Reference Rate
Secured Obligations
Security
Security Documents
Specified Currency
Term
Working Day
Interpretation
Definitions
Deferment
Payment Terms
Interest
Security
Representations and Warranties
Covenants
Default
Remedies
Interest and Charges
Set-off
Assignment and Transfer
Notices
Amendments
Severability
Entire Agreement
Force Majeure
Waiver
Confidentiality
Further Assurance
Costs and Expenses
Governing Law
Jurisdiction
Counterparts
Banking & Finance
Manufacturing
Retail
Construction
Real Estate
Professional Services
Technology
Energy
Healthcare
Transportation & Logistics
Agriculture
Telecommunications
Legal
Finance
Treasury
Credit Management
Accounts Receivable
Accounts Payable
Risk Management
Commercial
Corporate Finance
Executive Leadership
Chief Financial Officer
Finance Director
Credit Manager
Treasury Manager
Financial Controller
Legal Counsel
Corporate Lawyer
Accounts Receivable Manager
Accounts Payable Manager
Risk Manager
Commercial Director
Business Development Manager
Contract Manager
Collections Manager
Chief Executive Officer
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