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Development Bank of The Philippines: Amendment To Term Loan Agreement
Development Bank of The Philippines: Amendment To Term Loan Agreement
Development Bank of The Philippines: Amendment To Term Loan Agreement
DE LEON
- and -
LGU-Real, by: Hon. DIANA ABIGAIL D. AQUINO
W I T N E S S E T H: THAT
Borrower
ARTICLE I Amendments
DBP, by: SAVP VIOLETA A. DELA TORRE
“(g) ‘Availability Period’ means the period from the date hereof to and
including the earliest of (a) the date the Commitment is fully availed of by the
Borrower, or (b) the date the Commitment is terminated or cancelled in
Lender
accordance with the terms of this Agreement or (c) 31 December 2021, unless
otherwise extended upon the sole discretion of the Lender and after due
MUNICIPALITY of REAL
Amendment to Term Loan Agreement
payment of the required Extension Fee, if any. Provided further, that the Gross
JOHNMARK A. DE LEON
Receipt Tax or other substitute tax shall be for the account of the Borrower.”
follows:
“The Borrower agrees to pay the interest on the Advance on or before the
Interest Payment Date without need of prior demand, under the following terms:
“(a) The interest rate shall be (i) initially 7.4% per annum, fixed from 19
CHRISTINA P. AÑOSO
“For purposes of the Borrowing, Interest Period shall mean each of the
successive periods of one (1) quarter. Each Interest Period shall end
on the numerically corresponding day of each quarter end period
after the date of Borrowing (or if there is no day so corresponding in
such month, such Interest Period shall end on the last day of such
quarter); Provided that, if any Interest Period would otherwise end on
a day which is not a Banking Day, such Interest Period shall be
extended to the next succeeding day which is a Banking Day, unless
the result of such extension would be to carry such Interest Period
over into another calendar month, in which event, such Interest
Borrower
“(a) The payment of all Loan Obligations at any time owing under this
Agreement, as well as the prompt observance and performance of the terms
and conditions contained herein, shall be secured by the following Collaterals to
be evidenced by the following documents in such form acceptable to the
Lender (hereinafter collectively referred to as the “Security Document”):
2
MUNICIPALITY of REAL
Amendment to Term Loan Agreement
Any and all acts or deed earlier made or executed by the parties in
pursuance of the foregoing shall be deemed confirmed and ratified.
IN WITNESS WHEREOF, the parties have hereunto set their hands this ___
day of ________________ 2020 at _______________________, Philippines.
_____________________________ _____________________________
Name: CHRISTINA P. AÑOSO Name: JOHNMARK A. DE LEON
Address: Lucena City Address: Real, Quezon
3
MUNICIPALITY of REAL
Amendment to Term Loan Agreement
ACKNOWLEDGMENT
) Sc.
the said instrument is their free and voluntary act and deed; and (c) for those
acting in representative capacities, that they are duly authorized to sign this
instrument in such capacities. This instrument refers to an AMENDMENT TO TERM
LOAN AGREEMENT, consisting of four (4) pages, an Annex “A” consisting of two
(2) pages, and an Annex “B” consisting of two (2) pages, signed by the parties
and their instrumental witnesses.
LGU-Real, by: Hon. DIANA ABIGAIL D. AQUINO