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Loan Amendment Agreement

Loan Amendment Agreement Template for Denmark

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Loan Amendment Agreement

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Document background
The Loan Amendment Agreement is a crucial document used when parties to an existing loan agreement need to modify its terms without creating an entirely new agreement. Under Danish law, this document is particularly important as it must comply with specific requirements of the Danish Financial Business Act and Contracts Act. It's commonly used when business circumstances change, requiring adjustments to payment terms, interest rates, security arrangements, or financial covenants. The agreement carefully documents all modifications while explicitly preserving unaltered terms from the original agreement, ensuring legal continuity and enforceability. This document type is especially relevant in the Danish market where loan restructuring must align with both EU banking regulations and local Danish financial laws.
Suggested Sections

1. Parties: Identification of the lender(s) and borrower(s), matching the original loan agreement

2. Background: Reference to the original loan agreement, its date, and key terms, and brief explanation of why amendment is needed

3. Definitions: Key terms used in the amendment agreement, including reference to definitions in original agreement

4. Amendments: Specific modifications to the original loan agreement, clearly identifying each changed clause

5. Effective Date: When the amendments take effect and any conditions precedent

6. Confirmation of Other Terms: Confirmation that all other terms of the original agreement remain unchanged

7. Representations and Warranties: Updated or reaffirmed representations and warranties from the borrower

8. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction for disputes

Optional Sections

1. Additional Security: Include when new security is being added as part of the amendment

2. Waiver of Defaults: Include when past defaults are being waived as part of the amendment

3. Fees and Expenses: Include when amendment involves payment of fees or costs

4. Tax Provisions: Include when amendment has tax implications requiring specific provisions

5. Consent of Guarantors: Include when original loan has guarantors who need to consent to changes

6. Additional Conditions Precedent: Include when specific conditions must be met before amendment becomes effective

7. Step Plan: Include when amendment involves complex sequence of actions or multiple parties

Suggested Schedules

1. Amended Loan Terms: Detailed schedule showing original vs. amended terms in tabular format

2. Form of Effective Date Notice: Template notice confirming when conditions precedent are met and amendment becomes effective

3. Conditions Precedent Documents: List of documents required before amendment becomes effective

4. Consent and Acknowledgment Forms: Forms for third party consents (e.g., guarantors, security providers)

5. Amended Payment Schedule: If payment terms are modified, new amortization or payment schedule

6. New Security Documents: If new security is added, forms of new security documents

Authors

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Relevant Roles
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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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Loan Amendment Agreement

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