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Loan Assignment And Assumption Agreement

Loan Assignment And Assumption Agreement Template for India

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Key Requirements PROMPT example:

Loan Assignment And Assumption Agreement

"I need a Loan Assignment and Assumption Agreement for transferring a corporate loan portfolio worth INR 50 crores from ABC Bank Limited to XYZ Bank Limited, with the assignment to be effective from March 1, 2025; the borrower is an Indian manufacturing company."

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Document background
The Loan Assignment And Assumption Agreement is a crucial document used in Indian financial transactions when a lender wishes to transfer its rights and obligations under a loan agreement to another party. This typically occurs in scenarios such as loan portfolio sales, bank restructuring, or strategic debt management. The document, governed by Indian law, must comply with the Indian Contract Act, 1872, Transfer of Property Act, 1882, and relevant banking regulations. It requires careful consideration of stamp duty implications and registration requirements, particularly for high-value transactions. The agreement comprehensively addresses the assignment mechanics, payment terms, representations and warranties, and includes detailed schedules covering loan particulars, security interests, and related documentation. It's essential for maintaining clear records of loan transfers and ensuring all parties' rights and obligations are properly documented and preserved.
Suggested Sections

1. Parties: Identifies all parties: Original Lender (Assignor), New Lender (Assignee), and Borrower

2. Background: Recitals explaining the original loan agreement and the intention to assign and assume the loan

3. Definitions: Defines key terms used throughout the agreement, including Loan Documents, Effective Date, and Outstanding Amount

4. Assignment and Assumption: Core provision detailing the transfer of rights and obligations from Assignor to Assignee

5. Purchase Price and Payment Terms: Specifies the consideration for the assignment and payment mechanics

6. Effective Date and Conditions Precedent: States when the assignment becomes effective and any conditions that must be met

7. Representations and Warranties: Statements of fact from all parties regarding their capacity, authority, and the loan status

8. Borrower's Acknowledgment and Consent: Borrower's formal agreement to the assignment and confirmation of ongoing obligations

9. Further Assurances: Parties' commitment to execute additional documents or take actions necessary to effect the assignment

10. Notices: Contact information and procedures for formal communications between parties

11. Governing Law and Jurisdiction: Specifies Indian law as governing law and sets jurisdiction for disputes

12. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments

Optional Sections

1. Security Interest Provisions: Required when the loan involves collateral or security interests that need to be transferred

2. Regulatory Compliance: Needed for loans subject to specific regulatory requirements or involving regulated entities

3. Foreign Exchange Provisions: Required when the assignment involves cross-border elements or foreign currency

4. Tax Provisions: Detailed tax clauses needed when assignment has significant tax implications

5. Intermediary Provisions: Required when a loan agent or servicer is involved in the transaction

6. Registration and Filing Requirements: Special provisions for assignments requiring regulatory or governmental registration

Suggested Schedules

1. Schedule 1 - Original Loan Agreement: Copy or details of the original loan agreement being assigned

2. Schedule 2 - Outstanding Amount and Payment Details: Detailed breakdown of the current loan balance, interest, and payment history

3. Schedule 3 - Related Loan Documents: List and copies of all associated loan documents being transferred

4. Schedule 4 - Security Details: Description of any security interests or collateral associated with the loan

5. Schedule 5 - Delivery Requirements: List of documents and items to be delivered by each party

6. Appendix A - Form of Notice to Borrower: Template for formal notice of assignment to be sent to the Borrower

7. Appendix B - Compliance Certificates: Required compliance and authority certificates from all parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions















































Clauses









































Relevant Industries

Banking

Financial Services

Investment Management

Real Estate

Infrastructure

Manufacturing

Healthcare

Energy

Telecommunications

Commercial Lending

Private Equity

Asset Management

Relevant Teams

Legal

Finance

Compliance

Risk Management

Treasury

Credit Administration

Corporate Affairs

Documentation

Due Diligence

Portfolio Management

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Compliance Officer

Risk Manager

Credit Manager

Portfolio Manager

Transaction Manager

Corporate Lawyer

Banking Manager

Finance Manager

Treasury Manager

Loan Officer

Contract Administrator

Due Diligence Officer

Company Secretary

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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