Agreement to Extend Debt Payment

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

forebearance, 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 _, 19_.

___________________________

Creditor

___________________________

Company

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