amend & extend

amend & extend
USA
The term refers to an amendment to a syndicated loan agreement where certain lenders agree in advance to extend the maturity date of their loans. In exchange for this early non-pro rata extension of the loan maturity, the extending lenders typically receive a higher applicable margin on their extended loans. In addition, the extending lenders may receive additional compensation, including extension or amendment fees and increased commitment fees.
For links to Amend & Extend amendments to loan agreements, see Practice Note, What's Market: Amend & Extends (www.practicallaw.com/9-385-9683). For more information on Amend & Extends, see Practice Note, Amend & Extends: When Non-pro Rata is the Best Way (www.practicallaw.com/8-386-4388).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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