This waiver of loan default is between
The Lender and the Borrower are parties to a loan agreement dated
Under the Loan Agreement, the Lender provided a loan of $
The Borrower has defaulted under the terms of the Loan Agreement (the "Default") by
The parties therefore agree as follows:
The Lender hereby irrevocably waives the Default as of the Effective Date. This waiver is made in reliance on, and is subject to, the Borrower's representations in section 2 below being accurate as of the effective date (as described in section 9).
2. BORROWER'S REPRESENTATIONS.
As of the effective date of this waiver (as described in section 9), the Borrower represents as follows:
3. NO GENERAL WAIVER.
This waiver is not a waiver of:
If there is a conflict between this waiver and the Loan Agreement, the terms of this waiver will control.
5. CONTINUATION OF AGREEMENT.
Except as expressly amended and supplemented by this waiver, the Loan Agreement remains effective and the parties hereby ratify and confirm the terms of the Loan Agreement.
No amendment to this waiver will be effective unless it is in writing and signed by both parties.
7. COUNTERPARTS; ELECTRONIC SIGNATURES.
The descriptive headings of the sections and subsections of this waiver are for convenience only, and do not affect this waiver's construction or interpretation.
This waiver will become effective when all parties have signed it. The date this agreement is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this agreement.
Each party is signing this waiver on the date stated opposite that party's signature.
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Attach copy of loan agreement