Hi, I am at a new bank that does strickly Change in Terms on maturing loans. My question is do we just need to have the "Change in Terms Agreement" signed or do we need to have other documents like Business Loan Agreement, Security Agreements, Disbursements signed as well?

thank you!

Legal questions.

also individual bank policy.

...which should be developed or at least reviewed and blessed by legal counsel.

Thank you! So this may be the same question and i apologize.... what about Lines of Credit made for 1 year at a time however it is just extended vs. renewal, no new promissory just a change in terms to extend maturity date another year?

thank you

Any time you are touching your legal agreements, you should be consulting legal counsel for guidance.

This is the type of routine contractual issue that can be reduced to a procedure that is approved by legal counsel and followed whenever needed.