A forbearance agreement is a legal document used to temporarily reduce or suspend loan payments due to financial hardship.
This legal template could be a contract agreement between a lender and a borrower regarding forbearance on a commercial property loan in Texas, USA, specifically in the pre-workout phase. It likely outlines the terms and conditions for a temporary suspension or reduction of payments, providing the borrower some financial relief while attempting to resolve any existing default or workout situations.
This legal template relates to a forbearance contract for a commercial property loan in the state of New York under USA law. It specifically addresses the pre-workout stage of the loan, outlining the terms and conditions for temporary relief from the borrower's obligations.
This legal template could be a contract outlining the terms and conditions of a forbearance agreement for a commercial property loan in California, under USA law. It is likely to be used in a pre-workout scenario where the lender agrees to temporarily postpone or modify loan repayment terms due to financial hardships faced by the borrower.