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1. Parties: Identification of the lender and borrower(s), including their full legal names and addresses
2. Background: Recitals explaining the existence of the original loan agreement, its date, and the parties' desire to modify its terms
3. Definitions: Key terms used in the agreement, including references to the original loan agreement and new terms specific to the modification
4. Reference to Original Loan: Details of the original loan agreement including date, parties, and current status
5. Modification Terms: Specific changes being made to the original loan agreement, including new payment terms, interest rates, or maturity dates
6. Effective Date: When the modifications take effect and how they will be implemented
7. Reaffirmation: Confirmation that all other terms of the original loan agreement remain in full force and effect
8. Representations and Warranties: Statements by the borrower regarding their current financial condition and ability to perform under the modified terms
9. Governing Law: Specification of applicable Canadian law and jurisdiction
10. Execution: Signature blocks and execution requirements
1. Security Modification: Required if any changes are being made to existing security arrangements or collateral
2. Guarantor Consent: Include when the original loan has guarantors who must consent to the modifications
3. Fee Structure: Include if there are fees associated with the modification or changes to existing fee structures
4. Insurance Requirements: Include if there are changes to insurance requirements or new insurance provisions
5. Default Provisions: Include if modifying or adding new events of default
6. Forbearance Terms: Include if the modification is part of a forbearance arrangement
7. Release Provisions: Include if any parties are being released from obligations under the original agreement
1. Schedule A - Payment Schedule: Detailed amortization schedule showing new payment amounts, dates, and allocation between principal and interest
2. Schedule B - Modified Terms Summary: Summary table comparing original terms with modified terms for easy reference
3. Schedule C - Property Description: Required if the loan is secured by real property, providing legal description and details
4. Appendix 1 - Original Loan Agreement: Copy of the original loan agreement being modified
5. Appendix 2 - Financial Statements: Current financial statements or financial information if required for the modification
6. Appendix 3 - Consent Documents: Any required third-party consents or approvals for the modification
Original Loan Agreement
Modification Effective Date
Lender
Borrower
Guarantor
Loan
Modified Terms
Original Terms
Security
Security Documents
Business Day
Default
Event of Default
Interest Rate
Modified Interest Rate
Payment Date
Modified Payment Schedule
Outstanding Principal Balance
Maturity Date
Modified Maturity Date
Applicable Law
Governmental Authority
Material Adverse Effect
Permitted Liens
Collateral
Original Security Interest
Modified Security Interest
Loan Documents
Modification Documents
Representations and Warranties
Required Payments
Modification Fee
Compliance Certificate
Financial Statements
Notice
Parties
Related Documents
Required Consents
Governing Law
Modification
Payment Terms
Interest Rate
Security
Representations and Warranties
Conditions Precedent
Covenants
Events of Default
Remedies
Reaffirmation
Consent
Release
Fees and Expenses
Notice
Assignment
Amendment
Severability
Waiver
Indemnification
Governing Law
Jurisdiction
Counterparts
Entire Agreement
Further Assurances
Ratification
Survival
Force Majeure
Confidentiality
Registration and Filing
Banking and Financial Services
Real Estate
Commercial Lending
Residential Mortgages
Corporate Finance
Small Business
Agriculture
Construction and Development
Manufacturing
Retail
Legal
Finance
Credit Risk
Compliance
Commercial Banking
Corporate Banking
Loan Administration
Treasury
Credit Analysis
Collections and Recovery
Documentation
Mortgage Services
Commercial Loan Officer
Credit Risk Manager
Chief Financial Officer
Finance Director
Legal Counsel
Compliance Officer
Mortgage Specialist
Banking Relationship Manager
Credit Analyst
Treasury Manager
Debt Restructuring Specialist
Corporate Banking Officer
Financial Controller
Recovery and Collections Manager
Senior Loan Administrator
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