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Amended Loan Agreement for United Arab Emirates

Amended Loan Agreement Template for United Arab Emirates

A comprehensive legal document governed by UAE law that modifies the terms and conditions of an existing loan agreement between lenders and borrowers. This document addresses specific amendments to the original loan agreement while ensuring compliance with UAE Civil Code, UAE Banking Law, and where applicable, Islamic finance principles. It includes detailed provisions for modified terms such as payment schedules, interest rates, security arrangements, and any other relevant changes agreed upon by the parties, while maintaining the validity and enforceability of the original agreement's unchanged terms.

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What is a Amended Loan Agreement?

The Amended Loan Agreement is utilized when parties to an existing loan facility need to modify certain terms or conditions of their original agreement while maintaining the basic lending relationship. This document is particularly important in the UAE market where changing business conditions, regulatory requirements, or commercial needs may necessitate amendments to existing financing arrangements. The agreement must comply with UAE Civil Code, UAE Banking Law, and Central Bank regulations, with special consideration for Islamic finance principles where applicable. It typically includes modifications to payment terms, interest rates, security arrangements, or other key provisions while preserving the remainder of the original agreement. The document is crucial for maintaining legal certainty and regulatory compliance while adapting to changing business needs in the UAE financial sector.

What sections should be included in a Amended Loan Agreement?

1. Parties: Identification of the lender(s) and borrower(s), including full legal names and addresses

2. Background: Recitals explaining the original loan agreement, reason for amendment, and current status

3. Definitions: Definitions of terms used in the agreement, including both original and new terms introduced by the amendment

4. Amendment Effective Date: Specification of when the amendments take effect

5. Amendments to Original Agreement: Detailed description of specific clauses being amended, with clear reference to original clause numbers

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

7. Representations and Warranties: Updated representations and warranties of the borrower

8. Conditions Precedent: Conditions that must be satisfied before the amendments become effective

9. Fees and Expenses: Details of any fees or expenses related to the amendment

10. Governing Law and Jurisdiction: Confirmation of UAE law as governing law and jurisdiction for disputes

11. Execution: Signature blocks and execution requirements

What sections are optional to include in a Amended Loan Agreement?

1. Islamic Finance Compliance: Required if the loan needs to be Shariah-compliant, including relevant provisions and structure

2. Security Amendment: Include if any security arrangements are being modified

3. Interest Rate Modification: Include if there are changes to interest rate terms

4. Payment Schedule Modification: Include if payment terms or schedules are being amended

5. Additional Lenders: Include if new lenders are being added to the facility

6. Currency Provisions: Include if the loan involves multiple currencies or currency conversion terms

7. Tax Provisions: Include if there are specific tax implications from the amendments

8. Financial Covenants Amendment: Include if financial covenants are being modified

What schedules should be included in a Amended Loan Agreement?

1. Schedule 1 - Original Loan Agreement: Copy of the original loan agreement being amended

2. Schedule 2 - Amended and Restated Terms: Complete set of amended terms in clean format

3. Schedule 3 - Conditions Precedent Documents: List of all documents required before amendment effectiveness

4. Schedule 4 - Amended Payment Schedule: Updated amortization or payment schedule if payment terms are modified

5. Schedule 5 - Form of Effective Date Certificate: Template certificate confirming satisfaction of conditions precedent

6. Schedule 6 - Security Amendment Documents: Forms of any security amendment documents required

7. Appendix A - Blackline Against Original Agreement: Marked version showing all changes against original agreement

8. Appendix B - Required Regulatory Approvals: List and copies of any required UAE regulatory approvals

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

Publisher

Genie AI

Document Type

Financing Agreement

Cost

Free to use
Relevant legal definitions








































Clauses






























Relevant Industries

Banking and Financial Services

Real Estate and Construction

Manufacturing and Industrial

Trading and Commercial

Healthcare

Education

Hospitality and Tourism

Technology and Telecommunications

Energy and Utilities

Transportation and Logistics

Retail and Consumer Goods

Professional Services

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Secretariat

Credit

Executive Management

Commercial

Banking Operations

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Corporate Lawyer

Compliance Officer

Risk Manager

Banking Relationship Manager

Credit Manager

Corporate Secretary

Managing Director

Finance Manager

Loan Officer

Chief Executive Officer

Commercial Director

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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