Common use of Loan Extension Clause in Contracts

Loan Extension. If the borrower needs to extend the loan term, they must submit a written application to the lender before the loan matures. After obtaining the lender's consent, a separate agreement will be signed. After the loan extension, when the extended term combined with the original term reaches a new interest rate tier, the interest rate will be determined according to the current interest rate tier for the cumulative term.

Loan Extension. If the borrower needs to extend the loan term, they must submit a written application to the lender before the loan maturesexpiration date. After obtaining Upon agreement by the lender and guarantor, the lender's consent, borrower, and guarantor will separately sign a separate agreement will be signedloan extension repayment agreement. After the loan extension, when if the extended term combined with cumulative loan extension period and the original term reaches reach a new interest rate period tier, the interest rate will be determined according to based on the current interest rate tier for the cumulative term.

Loan Extension. If the borrower Borrower needs to extend the loan term, they must submit a written application it shall app ly to the lender Lender in writing before the loan matures. After obtaining maturity date of the lender's consentloan, and sign a separate agreement will be signedafter the consent of the Lender. After the loan extensionextension of the loan, when the extended extension term combined with of the loan and the original term reaches a the new interest rate tierterm level, the interest rate will be is determined according to the current interest rate tier for level of the cumulative term.

Loan Extension. If the borrower needs to extend the loan term, they must submit a written application shall apply in writing to the lender before the loan maturesmaturity date. After obtaining the consent of the lender and guarantor, the lender's consent, borrower, and guarantor shall sign a separate loan extension repayment agreement will be signedseparately. After the loan extensionis extended, when the extended term combined with extension period of the loan plus the original term reaches a new interest rate tierterm level, the interest rate will be determined according to based on the current interest rate tier for level of the cumulative term.