Home Contract Samples T Termination Of Loan Agreement

Termination of Loan Agreement: Definition, Terms, Example

Jump to Section

What is a Termination Of Loan Agreement?

A termination of loan agreement is a legal document that is signed when the term of the original loan agreement reaches completion. This document serves to release both the lender and borrower of their obligatory roles set forth in the original loan agreement. Most commmonly, this agreement is drawn up and signed when the borrower pays back the loan amount, plus taxes, interest, and any other applicable fees.

A termination of loan agreement is not the same thing as a loan cancellation and release agreement. The main difference between the two is that while a termination of loan agreement typically requires payback of the loan as agreed, the loan cancellation and release agreement is typically put into motion when both parties agree to cancel the contract, regardless of payback status.

Common Sections in Termination Of Loan Agreements

Below is a list of common sections included in Termination Of Loan Agreements. These sections are linked to the below sample agreement for you to explore.

Termination Of Loan Agreement Sample

Exhibit 4.47

TERMINATION OF LOAN AGREEMENT

TERMINATION OF LOAN AGREEMENT, dated as of April 14, 2016 (this “Termination”), among Navios Maritime Holdings Inc., a Marshall Islands corporation (the “Borrower”) and Navios Maritime Acquisition Corporation, a Marshall Islands corporation, as lender (in such capacity, the “Lender”).

W I T N E S S E T H:

WHEREAS, the Borrower and Lender entered into that certain agreement, dated as of March 9, 2016 (the “Loan Agreement”), pursuant to which the Lender agreed to make loans under a $50,000,000 revolving loan facility to the Borrower upon the terms and subject to the conditions set forth therein;

WHEREAS, Clause 15.1 of the Loan Agreement provides that any term of the Loan Agreement may be amended with the agreement of the Lender and the Borrower;

WHEREAS, the Board of Directors of each of the Borrower and Lender have determined that it is in the best interest of its respective companies to terminate the Loan Agreement;

NOW, THEREFORE, the Borrower and the Lender each hereby agrees as follows:

 

  1. Amendment to Clause 5.3. Clause 5.3 of the Loan Agreement is hereby amended to add the following sentence to the end of Clause 5.3:

“The Borrower and NNA may immediately terminate this Agreement at any time by written agreement between the parties.”

 

  2. Agreement to Terminate. The Borrower and the Lender hereby agree to terminate the Loan Agreement as of the date hereof.

 

  3. Counterparts. This Termination may be executed by one or more of the parties hereto on any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

Unless otherwise defined herein, terms that are defined in the Loan Agreement and used herein are so used as so defined.


IN WITNESS WHEREOF, the undersigned have caused this Termination to be duly executed and delivered as of the date first above written.

NAVIOS MARITIME HOLDINGS INC., as Borrower

By: /s/ Vasiliki Papaefthymiou                        

      Name: Vasiliki Papaefthymiou

      Title:   Executive Vice President-Legal

NAVIOS MARITIME ACQUISITION

CORPORATION, as Lender

By: /s/ Leonidas Korres                                    

      Name: Leonidas Korres

      Title:   Chief Financial Officer


Reference:
Security Exchange Commission - Edgar Database, EX-4.47 2 d150923dex447.htm EX-4.47, Viewed August 13, 2022, View Source on SEC.

Who Helps With Termination Of Loan Agreements?

Lawyers with backgrounds working on termination of loan agreements work with clients to help. Do you need help with a termination of loan agreement?

Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate termination of loan agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Termination Of Loan Agreement Lawyers

Jazmin C. on ContractsCounsel
View Jazmin
5.0 (1)
Member Since:
July 12, 2025

Jazmin C.

Partner
Free Consultation
Charlotte, North Carolina
13 Yrs Experience
Licensed in NC
Florida A&M University College of Law

JAZMIN G. CALDWELL is a Partner and Attorney at Elder Law & Estate Planning Solutions of the Piedmont. She was the previous owner and sole proprietor of The Law Office of J.G. Caldwell, PLLC; which was established in 2013. As a partner at Brown & Caldwell- Elder Law & Estate Planning Solutions of the Piedmont, she focuses on Estate Planning and Estate Administration. She is also well versed in Corporate Law (Business and Non-Profit Formation), Contract Formation, Real Property Law, and Deed Preparation for the residents of the Piedmont area of North Carolina.

Michael D. on ContractsCounsel
View Michael
5.0 (3)
Member Since:
July 16, 2025

Michael D.

Managing Attorney
Free Consultation
Encinitas, California
17 Yrs Experience
Licensed in CA
California Western School of Law, San Diego, CA

I have been a litigator in state and federal jurisdictions throughout the United States for the past 15 years, save for an eight-month stint as General Counsel and Chief Compliance Officer for a credit card processing company. I am an asset to any firm looking for support with any type of motion work or coverage for appearances, if necessary. I like to refer to myself as a self-proclaimed "walking code of civil procedure." I look forward to working with you and helping however I am able. Thank you for your consideration.

Recent  ContractsCounsel Client  Review:
5.0

"Responsive, transparent and clear with fees, explained clearly the best course of action. Recommend"

Alexander M. on ContractsCounsel
View Alexander
5.0 (2)
Member Since:
July 23, 2025

Alexander M.

Lead Attorney
Free Consultation
Tampa, Florida
3 Yrs Experience
Licensed in FL, OR
Mitchell Hamline School of Law

Broad area practice including Business (domestic & international), IP, Employment, Family Law, Administrative, etc. My focus is a direct, no-BS approach with fast turn around times on completed work.

Recent  ContractsCounsel Client  Review:
5.0

"Alexander delivered fast, thorough, and practical legal guidance. He identified 22 issues with my MSA, provided a clear MSO/PC structure opinion, and mapped out insurance requirements for both entities — all within 24 hours. Highly recommend for any healthcare startup needing Florida specific legal expertise."

Parsa G. on ContractsCounsel
View Parsa
Member Since:
July 8, 2025

Parsa G.

Attorney
Free Consultation
Washington, D.C.
1 Yr Experience
Licensed in DC
American University Washington College of Law

I’m a licensed attorney with a J.D. and a strong background in reviewing, negotiating, and drafting a wide range of commercial agreements, especially in the context of international trade and cross-border transactions. I’ve reviewed hundreds of sales contracts, and have experience drafting and negotiating international sale of goods agreements, distribution agreements, supplier/manufacturer contracts, licensing agreements, and service-level agreements (SLAs). My focus is on helping clients reduce risk and protect their interests through clear, enforceable contract language. I also advise on key international elements like Incoterms, dispute resolution mechanisms (including ICC arbitration), payment structuring, governing law, and IP protections. Whether you need a custom agreement, a contract review with redlines, or support structuring a cross-border deal, I bring both precision and practicality to every engagement.

Aristos K. on ContractsCounsel
View Aristos
Member Since:
July 11, 2025

Aristos K.

Director, Counsel
Free Consultation
San Francisco
5 Yrs Experience
Licensed in CA
UC Law SF

I am a San Francisco attorney with specific expertise representing the public with residential and commercial real estate interests in the Bay Area. I apply my background in dispute resolution services, contract analysis, and conflict management to identify and produce long-term results for clients amidst demanding and unforeseen circumstances.

Connor F. on ContractsCounsel
View Connor
Member Since:
July 18, 2025

Connor F.

Attorney
Free Consultation
West Palm Beach, FL
2 Yrs Experience
Licensed in FL
Nova Law School, Magna Cum Laude

Connor was born and raised in Coney Island, Brooklyn. He moved to Florida in 2017 after graduating from Brooklyn College with a Degree in Philosophy and Law. He continued his legal studies a at Nova Law School, where he graduated Magna Cum Laude and in the top 10% of his class. While in law school, Connor was an active member of the Nova Trial Team, and he received awards for his litigation and trial advocacy skills. Connor is a skilled litigator and trial attorney. He is known for his public oration skills and conversational courtroom presence. He has both criminal and civil trial experience, and enjoys telling his clients’ stories to the jury to bring about justice. Guided by his deep belief in God, Connor always pursues the most professional and ethical outcome for his clients. He is zealous, scrappy, and tough. He is calm and sensible, yet relentless. When he’s not in the courtroom, Connor is an active member of the community and an experienced musician. He has received numerous achievements for his skills, abilities, and techniques as a harmonica player. He lives in Lake Worth, Florida with his wife, Jen, and their son, Ezekiel.

Maricela G. on ContractsCounsel
View Maricela
Member Since:
July 19, 2025

Maricela G.

Attorney
Free Consultation
San Antonio
9 Yrs Experience
Licensed in TX
St. Mary's School of Law

I’m a Texas-based attorney with extensive experience in business law, real estate transactions, estate planning, probate, and immigration. I focus on providing clear, efficient, and client-focused legal solutions. Whether you're looking to draft, review, or negotiate contracts, I bring a practical mindset and attention to detail to protect your interests and help you move forward with confidence.

Find the best lawyer for your project

Browse Lawyers Now

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

How It Works

Post Your Project

Get Free Bids to Compare

Hire Your Lawyer

Financial lawyers by top cities
See All Financial Lawyers
Termination Of Loan Agreement lawyers by city
See All Termination Of Loan Agreement Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

How It Works

Post Your Project

Get Free Bids to Compare

Hire Your Lawyer

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city