Global Breaking News - Sunday, December 22, 2024

Agreement to Extend Debt Payment

For value received, the undersigned, _____ (Creditor) and _____ (Company),
hereby acknowledge and agree that:

1. The Company presently owes the Creditor the sum of $_________, said sum
being presently due and payable.

2. In further consideration of the Creditor's forbearance, the Company agrees to
pay said debt on extended terms in the manner following:

3. In the event the Company fails to make any payments punctually on the agreed extended terms,
the Creditor shall have full rights to proceed for the collection of the entire balance then remaining.

4. This agreement shall be binding upon and inure to the benefit of the parties,
their successors, assigns and personal representatives.

Signed under seal this ______ day of ____, 20__.

___________________________
Creditor

___________________________
Company

* for value received = (어음) 대가수취필
* the undersigned = (특정 문서의) 서명인
* creditor = 채권자
* in consideration of ~ = ~에 대한 보답[보수]으로
* forbearance = (특히 잘못한 사람에 대한) 관용[관대]
* binding on(upon) ~ = 법적 구속력이 있는
* inure (to ~) = 효력을 발생하다; 도움이 되다