Justice Kennedy (as she was honoured at the time) found, on the one hand, (in favour of the borrower) that the second agreement replaced the first facility agreement and, on the other hand, that the “mortgage documents” were not “sent” within the meaning of the second facility agreement until the lender itself passed it on to the borrower. As a result, the relevant “transit” was March 20, 2012, the “interest start” was March 27, 2012, the “repayment date” 15 months later on June 27, 2013, and the loan was therefore repaid on time. Each facility agreement provided that, if the refund is not made on the repayment date, additional interest and rollover costs must be paid. Section 7.5 of each facility agreement provided that the agreement created, at the time of execution, a mortgage in favour of the lender on the mortgage assets. In addition, each facility agreement included a “comprehensive agreement” clause. A few months later, the borrower asked the lender to change the terms of the loan, in particular by reducing the hosting time from 18 months to 15 months and, as a result, reducing the activated interest rate from $1,200,000 to $900,000. The lender accepted and submitted, on March 20, 2012, a second facility agreement (and related documents) that was duly executed on March 28, 2012. The email address cannot be subscribed. Please, do it again. The lender sent some mortgage documents to the borrower on January 12, 2012 and began collecting interest on January 19, 2012. Contractors enter into another contract in which they change the original contractual terms. Is the effect of the second contract to terminate the first and replace it with the second, or to modify the first? Balanced Securities Limited (`Lender`) proposed to grant Dumayne Property Group Pty Ltd (hereafter the borrower) an 18-month loan period beginning with the “start of interest rates” under the a facility agreement of October 24, 2011 (hereafter the first facility agreement) beginning with the “start of interest rates” 7 days after sending “mortgage documents” to the borrower. The interest on the loan has been activated and must be repaid on the repayment date – with respect to the “expiry date of the accommodation” (i.e.