Loan Extension Agreement Template for Philippines

1. Parties: Identification of the Lender and Borrower with complete details

2. Background: Reference to original loan agreement, current outstanding amount, and reason for extension

3. Definitions: Key terms used in the agreement including 'Original Loan Agreement', 'Extension Period', 'New Maturity Date'

4. Extension of Loan: Clear statement of the extension period and new maturity date

5. Interest Rate: Specification of interest rate during the extension period

6. Repayment Terms: Modified payment schedule and terms during the extension period

7. Conditions Precedent: Conditions that must be met before the extension becomes effective

8. Representations and Warranties: Confirmation that original representations remain true and additional representations if required

9. Security: Confirmation that existing security remains in effect for the extended period

10. Fees and Costs: Any fees or costs associated with the extension

11. Effect on Original Agreement: Statement that all other terms of the original agreement remain in force

12. Governing Law: Confirmation of Philippine law as governing law

13. Execution: Signature blocks and execution requirements

1. Schedule 1 - Modified Payment Schedule: Detailed schedule of new payment dates and amounts

2. Schedule 2 - Conditions Precedent Documents: List of documents required to be delivered before extension becomes effective

3. Schedule 3 - Additional Security Details: Details of any new security provided (if applicable)

4. Appendix A - Original Loan Agreement: Copy of the original loan agreement being extended

5. Appendix B - Compliance Certificate: Form of certificate confirming compliance with conditions