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An Amendment Of Loan Agreement is utilized when parties to an existing loan arrangement need to modify specific terms while keeping the core agreement intact. This document is essential in Singapore's financial landscape where loan modifications must comply with strict banking regulations and contractual requirements. It's commonly used when circumstances necessitate changes to interest rates, repayment terms, loan amounts, or other key provisions. The amendment must align with Singapore's Banking Act, Contracts Act, and relevant MAS guidelines, while maintaining proper documentation for regulatory compliance and audit purposes.
