Below is the  Agreement To Extend Debt Payment Termstemplate body. If necessary, please put the personal information, company information, such as text to replace the specific content you need. you can download the .doc template file on the end of the article by click download link. 

AGREEMENT TO EXTEND DEBT PAYMENT TERMS



BETWEEN:  [CREDITOR NAME] (the "Creditor"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:
      
  [COMPLETE ADDRESS]


AND:  [YOUR COMPANY NAME] (the "Company"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:

  [YOUR COMPLETE ADDRESS]


FOR VALUE RECEIVED, the undersigned hereby acknowledge and agree that:

The Company presently owes the Creditor the sum of [AMOUNT], said sum being presently due and payable under the terms of a Note dated [DATE].

In further consideration of the Creditor's forbearance, the Company agrees to pay said debt on extended terms in the manner following:

[DESCRIBE EXTENDED TERMS]


In the event the Company fails to make any payments punctually on the agreed extended terms, the Creditor shall have all of the rights to proceed for collection of the entire amount then outstanding as set out in the Note dated [DATE].

This agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.



Signed under seal this [DAY] day of [MONTH], [YEAR].




            
Creditor




            
Company


click to download Agreement To Extend Debt Payment Terms template
                            

Other legal template form