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Debt Assignment Agreement
"I need a Debt Assignment Agreement governed by UAE law to transfer a secured corporate loan portfolio worth AED 50 million from our investment bank to a private equity firm, with completion scheduled for March 2025."
1. Parties: Identification of the Assignor (current creditor), Assignee (new creditor), and Debtor
2. Background: Context of the original debt, reason for assignment, and current status of the debt
3. Definitions: Key terms used throughout the agreement including 'Assigned Debt', 'Effective Date', 'Security Documents', etc.
4. Assignment: Core provision transferring all rights, title, and interest in the debt from Assignor to Assignee
5. Consideration: Details of the payment or other consideration for the assignment
6. Completion: Timing and mechanics of the assignment completion, including conditions precedent
7. Representations and Warranties: Assignor's warranties regarding ownership, right to assign, status of debt, no encumbrances
8. Further Assurance: Obligations to execute further documents and take additional steps to perfect the assignment
9. Notices: Process for serving notices under the agreement
10. Governing Law and Jurisdiction: Confirmation of UAE law and jurisdiction
1. Security Assignment: Required if any security or collateral is being transferred along with the debt
2. Debtor Consent: Include if debtor's consent is required for the assignment or if debtor is a party to the agreement
3. Tax Provisions: Include if there are specific tax implications or allocations between parties
4. Confidentiality: Include if sensitive commercial information is involved
5. Anti-Money Laundering: Include if assignment involves regulated entities or large sums
6. Partial Assignment: Include if only part of a debt is being assigned
7. Multiple Debts: Include if portfolio of debts is being assigned rather than single debt
1. Schedule 1 - Details of the Assigned Debt: Specific details of debt being assigned including amount, interest rate, maturity
2. Schedule 2 - Copy of Original Debt Agreement: Copy of the agreement creating the original debt
3. Schedule 3 - Security Documents: List and copies of any security documents related to the debt
4. Schedule 4 - Form of Notice to Debtor: Template notice informing debtor of the assignment
5. Schedule 5 - Completion Requirements: List of documents and actions required for completion
6. Appendix A - Payment Details: Bank account and payment mechanism details for settlement of consideration
Authors
Banking & Finance
Investment Management
Real Estate
Construction
Manufacturing
Healthcare
Retail
Energy
Infrastructure
Professional Services
Legal
Finance
Treasury
Credit Management
Risk Management
Compliance
Corporate Secretariat
Investment
Debt Recovery
Portfolio Management
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Finance Manager
Credit Manager
Treasury Manager
Debt Recovery Officer
Investment Manager
Portfolio Manager
Risk Manager
Compliance Officer
Company Secretary
Transaction Manager
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