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1. Parties: Identification of the lender and borrower, including full legal names and addresses
2. Background: Details of the original loan agreement, including date, amount, and purpose, and the reason for extension
3. Definitions: Definitions of key terms used throughout the agreement, including references to original loan agreement definitions
4. Extension of Term: Specific details of the extension period and new maturity date
5. Payment Terms: Modified payment schedule, profit rate (in compliance with Sharia), and payment mechanisms
6. Conditions Precedent: Conditions that must be satisfied before the extension becomes effective
7. Representations and Warranties: Updated confirmations and statements by the borrower regarding their financial condition
8. Continuation of Security: Confirmation that existing security arrangements continue to apply
9. Sharia Compliance: Explicit statements ensuring the extension complies with Islamic finance principles
10. Costs and Expenses: Allocation of costs related to the extension
11. Governing Law and Jurisdiction: Confirmation of Saudi law governance and jurisdiction for disputes
1. Additional Security: Required when new security is being added as part of the extension
2. Guarantor Consent: Needed when the original loan has guarantors who must consent to the extension
3. Modified Financial Covenants: Include when original financial covenants are being adjusted
4. Additional Conditions: For situations requiring specific additional conditions for the borrower
5. Cross-Default Provisions: When the borrower has other financing arrangements that need to be addressed
6. Regulatory Compliance: When specific SAMA or other regulatory requirements need to be addressed
1. Schedule 1 - Modified Payment Schedule: Detailed breakdown of new payment dates and amounts
2. Schedule 2 - Conditions Precedent Documents: List of documents required to be delivered before effectiveness
3. Schedule 3 - Existing Security Documents: List of security documents that continue to apply
4. Appendix A - Form of Effectiveness Certificate: Template certificate confirming satisfaction of conditions precedent
5. Appendix B - Sharia Board Approval: Copy of or reference to Sharia board approval of the extension terms
6. Appendix C - Corporate Authorizations: Copies of corporate approvals required for the extension
Banking and Financial Services
Real Estate and Construction
Manufacturing and Industrial
Retail and Commercial
Healthcare
Technology and Telecommunications
Energy and Utilities
Transportation and Logistics
Agriculture and Food Production
Education
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Banking
Credit Administration
Sharia Advisory
Company Secretarial
Business Development
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Compliance Officer
Sharia Compliance Manager
Credit Risk Manager
Relationship Manager
Corporate Banking Manager
Finance Manager
Company Secretary
Managing Director
Chief Executive Officer
Risk Officer
Documentation Officer
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