Restructuring agreements are documents which lay down the terms and conditions for any change in a specific legal document. The most common form of restructuring agreement is a debt restructuring agreement where certain conditions are outlined to help the borrower get more promising loans deals, like a lower rate of interest, which will help to lower the total amount to be returned by the borrower.
Another form of restructuring agreement is where the term of the contract is extended or decreased, depending on the convenience of the borrower. When the term is extended, the borrower can make smaller payments as he gets more time to make the payment, and if the term is reduced then he pays larger amounts but the debt is paid off quickly. Restructuring agreements must contain the names and contact details of both the parties, the new terms and conditions and their consent to the terms which will make the conditions in the previous document invalid.
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Sample Restructuring Agreement
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