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1. Parties: Identification of the creditor and debtor, including full legal names and addresses
2. Background: Context of the original debt, including reference to the original agreement or loan document
3. Definitions: Key terms used in the agreement, including 'Interest', 'Principal Amount', 'Original Agreement', and 'Effective Date'
4. Interest Waiver Details: Specific details of the interest being waived, including the amount or percentage and the time period covered
5. Acknowledgment of Principal Debt: Confirmation of the principal amount that remains payable
6. Conditions of Waiver: Any conditions that must be met for the interest waiver to remain valid
7. Payment Terms: Details of how and when the remaining principal amount should be paid
8. Representations and Warranties: Statements by both parties confirming their authority and understanding of the agreement
9. Governing Law: Specification that the agreement is governed by Canadian law
10. Execution: Signature blocks and execution requirements
1. Reinstatement of Interest: Used when the waiver is conditional and interest may be reinstated upon default or breach of conditions
2. Release: Include when the interest waiver is part of a broader settlement or release of claims
3. Security Provisions: Required when existing security arrangements need to be addressed or modified
4. Tax Implications: Include when there are significant tax consequences of the interest waiver that need to be acknowledged
5. Regulatory Compliance: Used when the waiver must comply with specific regulatory requirements, such as banking regulations
6. Assignment: Include when transfer rights need to be addressed, particularly for commercial loans
7. Notice Requirements: Used when specific notice procedures need to be established for communications between parties
1. Schedule A - Original Debt Details: Detailed breakdown of the original debt, including principal and interest calculations
2. Schedule B - Payment Schedule: If applicable, detailed schedule of remaining payments for the principal amount
3. Appendix 1 - Original Loan Agreement: Copy or reference to the original loan agreement or debt instrument
4. Appendix 2 - Calculation of Waived Interest: Detailed calculation showing the amount of interest being waived
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