Loan Amendment Agreement - Template, Sample Form

LOAN AMENDMENT AGREEMENT

THIS LOAN AMENDMENT AGREEMENT is made on ________ between ________, of the following address:

________

(hereinafter referred to as the "Lender") of the one part,

AND

________, of the following address:

________

(hereinafter referred to as the "Borrower") of the second part,

AND

________, of the following address:

________

(hereinafter referred to as the "Guarantor") of the other part.

BACKGROUND

A. The Lender, Borrower, and the Guranator executed a loan agreement, dated ________ (the "Agreement"), where the Lender agreed to advance the sum of ₦________ (________) to the Borrower as Loan.

B. By virtue of this Amendment, the Parties have agreed to amend the Agreement to reflect the contents of this document.

Now, therefore, in consideration of the promises and covenants contained herein, as well as other valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:

A. AMENDMENTS

The Parties have also agreed to amend the contents of their Agreement to reflect the following:

1. The Parties have agreed to amend the Agreement to include the following to read as follows:

________

2. The Parties have agreed to amend the Agreement by deleting the following from the Agreement:

________

3. The Parties have agreed to amend the Agreement to reflect the following modification:

The following provision shall be removed:

________

and shall be replaced with the following provision:

________

B. EFFECT OF AMENDMENT

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C. GENERAL PROVISIONS

(I) ENTIRE AGREEMENT: This Loan Amendment amends the Agreement and both documents and any other document referred to in the Agreement constitutes the entire agreement between the Parties and supersede any prior contrary written or oral agreement made between them.

(II) JURISDICTION AND APPLICABLE LAW: The Jurisdiction and the law applicable to the Agreement shall remain the same and in effect, except such jurisdiction or applicable law are specifically altered in this Amendment.

(III) RATIFICATION: Other than the provisions expressly modified under this Agreement, all other obligations, rights, terms and conditions contained in the Lease shall remain in full force and effect until the termination of the Lease.

(IV) ASSIGNMENT: All other obligations under the Agreement shall remain in force and no party shall assign their rights, benefits, or obligations except otherwise specifically amended herein.

(V) VARIATION: No part of this Loan Amendment shall be varied or terminated unless such variation is agreed and signed by the Parties.

(VI) SEVERABILITY: If any part of this Amendment is held unenforceable for any reason, the remainder of this Agreement shall continue to be in force and have effect.

(VII) COUNTERPARTS: This Agreement may be executed in several counterparts, all of which constitutes a single agreement between the Parties.

(VIII) FURTHER ASSURANCE: The Parties shall execute and deliver all such documents and take all such actions and steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Amendment.

IN WITNESS WHEREOF the Parties hereto have executed this Contract this day and year first written above.

SIGNED by the within named ________

_______________________

in the presence of:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................

SIGNED by the within named ________

_______________________

in the presence of:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................

SIGNED by the within named ________

_______________________

in the presence of:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................