Consent and Waiver of Change of Ownership

This Consent and Waiver of Change of Ownership is between a creditor and borrower in which creditor agrees to consent to acquisition of borrower and to waive any borrower default. This document sets out the specific terms of this arrangement including the amount of extended credit and creditor’s willingness to consent to borrower’s change of ownership. It is important that this Consent and Waiver of Change of Ownership be set out in writing if there are misunderstandings or disputes between the parties.

This Consent and Waiver of Change of Ownership includes the following:

• Borrower/Type of Agreement: Name of borrower, type of credit agreement, name of creditor and amount of credit extended;
• Party Acquiring Control: The party who has acquired control of all stock of the borrower;
• Default: Sets out that under the original credit agreement the acquisition of borrower constitutes a default unless prior written consent is obtained;
• Consent to Acquisition: Borrower requests that creditor consent to the acquisition and waive any default;
• Signature: The creditor must sign this agreement.

This attorney-prepared packet contains:

1. General Instructions
2. Consent and Waiver of Change of Ownership

State Law Compliance: This form complies with the laws of all states

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