Bank Waiver for Germany

Bank Waiver Template for Germany

A formal document issued under German law by a bank or lending institution that waives certain rights, requirements, or obligations originally established in a loan agreement or banking facility. The waiver may relate to financial covenants, payment terms, reporting requirements, or other contractual obligations. The document must comply with German banking regulations (KWG) and civil law requirements (BGB), particularly regarding form requirements and corporate authority. It typically includes specific conditions under which the waiver is granted and may be temporary or permanent in nature.

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What is a Bank Waiver?

A Bank Waiver is a critical document in German banking practice, typically used when a borrower requires relief from certain banking obligations or covenants. This document is particularly relevant when companies face temporary financial challenges or need modifications to their existing banking arrangements. The Bank Waiver must comply with German banking regulations (KWG) and civil law requirements (BGB), making it essential to include specific legal declarations and formal requirements. It's commonly used in corporate banking relationships where a borrower may have breached or anticipates breaching certain loan conditions, or where changed circumstances necessitate a modification of original terms. The document should clearly outline the specific obligations being waived, any conditions attached to the waiver, and whether it's temporary or permanent.

What sections should be included in a Bank Waiver?

1. Bank Details and Address: Full legal name and address of the issuing bank

2. Recipient Details: Full legal name and address of the recipient of the waiver

3. Reference Information: Relevant loan/facility agreement numbers, dates, and other identifying information

4. Description of Original Obligation: Clear identification of the original obligations or requirements being waived

5. Waiver Declaration: Explicit statement of the waiver, including specific provisions being waived and the extent of the waiver

6. Conditions and Limitations: Any conditions attached to the waiver and its temporal limitations

7. Reservation of Rights: Statement preserving other rights not specifically waived

8. Governing Law Statement: Confirmation of German law as governing law

9. Signature Block: Space for authorized bank signatories

What sections are optional to include in a Bank Waiver?

1. Consideration: Include when the waiver is granted in exchange for specific consideration

2. Representations and Warranties: Include when the waiver is conditional upon certain representations being true

3. Consent Requirements: Include when third-party consents are relevant to the waiver

4. Time Limitation: Include when the waiver is temporary or has a specific expiration date

5. Regulatory Notifications: Include when regulatory notifications are required for the waiver

What schedules should be included in a Bank Waiver?

1. Schedule 1 - Details of Waived Obligations: Detailed list of specific obligations, covenants, or requirements being waived

2. Schedule 2 - Related Facilities: List of all related facility agreements affected by the waiver

3. Schedule 3 - Conditions Precedent: List of conditions that must be satisfied before the waiver becomes effective

4. Appendix A - Corporate Authorizations: Copies of relevant corporate authorizations required for the waiver

5. Appendix B - Supporting Documents: Any relevant supporting documentation referenced in the waiver

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Germany

Publisher

Genie AI

Document Type

Waiver

Cost

Free to use
Relevant Industries

Banking and Financial Services

Manufacturing

Real Estate

Infrastructure

Energy

Construction

Transportation and Logistics

Retail

Healthcare

Technology

Telecommunications

Industrial Production

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Banking

Credit Administration

Loan Operations

Corporate Advisory

Restructuring

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Bank Relationship Manager

Credit Officer

Legal Counsel

Corporate Lawyer

Compliance Officer

Risk Manager

Financial Controller

Banking Director

Restructuring Officer

Senior Loan Officer

Corporate Banking Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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