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Forbearance Agreement (Complex) - 6th Ed
Hillman on Commercial Loan Documentation (Sixth Edition)
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This template for a simple forbearance agreement provides that lenders will forbear for a period of time from exercising any of their rights or remedies against borrowers who have defaulted on a loan agreement.
This agreement also places additional obligations on the borrowers.
For instance, they are required to submit a business plan relating to their ability to repay the loan, and they are required to furnish financial statements and reports to the lenders.
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