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Credit Assignment Agreement
1. Parties: Identification of the Assignor and Assignee with full legal names and registration details
2. Background: Context of the assignment, including reference to the original credit agreement and reason for assignment
3. Definitions: Definitions of key terms used throughout the agreement
4. Assignment: Core provision detailing the transfer of rights from Assignor to Assignee
5. Purchase Price: The amount to be paid for the assigned credit and payment terms
6. Completion: The mechanics and timing of the assignment completion
7. Representations and Warranties: Assignor's confirmations about the validity and status of the assigned credit
8. Notifications: Requirements and process for notifying the debtor of the assignment
9. Further Assurance: Obligations to execute additional documents or take further steps if needed
10. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction for disputes
1. Security: Required if any security interests are being transferred along with the credit
2. Data Protection: Required if personal data is involved, addressing GDPR compliance
3. Consumer Protection Provisions: Required if the underlying credit agreement involves consumers
4. Regulatory Compliance: Required if either party is a regulated financial institution
5. Anti-Money Laundering: Required for assignments involving financial institutions or large sums
6. Partial Assignment: Required if only part of the credit is being assigned
7. Future Receivables: Required if the assignment includes future credit rights
8. Set-off Rights: Required if there are existing or potential set-off rights to address
1. Schedule 1 - Details of Assigned Credit: Detailed description of the credit being assigned, including amount, interest rate, and payment terms
2. Schedule 2 - Original Credit Agreement: Copy of the original credit agreement being assigned
3. Schedule 3 - Form of Notice to Debtor: Template for the notification to be sent to the debtor
4. Schedule 4 - Completion Requirements: Checklist of documents and actions required for completion
5. Schedule 5 - Security Details: Details of any security interests being transferred
6. Appendix A - Power of Attorney: If required for the Assignee to act on behalf of the Assignor post-assignment
7. Appendix B - Payment Instructions: Bank account and payment details for the purchase price
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