This document is used if the borrower requests the lender to waive a breach of one of the clauses of a facility agreement (loan agreement).
The borrower is obliged to specify the clause that he has violated and breached or may violate and breach in detail, as well as the description of the act that was committed.
This document may be followed by a waiver letter where the lender expresses his consent to waive his right to claim for compensation judicially.
This document is intended for use in the Emirate of Dubai.
This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.