Amend & Extend

The term refers to an amendment to a syndicated ( www.practicallaw.com/2-382-3862) loan agreement where certain lenders agree in advance to extend the maturity date of their loans. In exchange for this early non-pro rata extension of the loan maturity, the extending lenders typically receive a higher applicable margin ( www.practicallaw.com/6-382-3233) on their extended loans. In addition, the extending lenders may receive additional compensation, including extension or amendment fees and increased commitment fees.

For links to Amend & Extend amendments to loan agreements, see Practice Note, What's Market: Amend & Extends ( www.practicallaw.com/9-385-9683) . For more information on Amend & Extends, see Practice Note, Amend & Extends ( www.practicallaw.com/8-386-4388) .

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