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Assignment Of Debt Agreement
"Need an Assignment of Debt Agreement for transferring a corporate loan portfolio worth RM 5 million from ABC Bank Berhad to XYZ Investment Holdings, with completion scheduled for March 15, 2025; must include provisions for multiple debtors and associated security interests."
1. Parties: Identifies and defines the Assignor (current debt holder), Assignee (party receiving the debt), and Debtor
2. Background: Explains the context of the original debt and the intention to assign it
3. Definitions: Defines key terms used throughout the agreement
4. Assignment: Core clause detailing the transfer of debt and all associated rights
5. Consideration: Specifies the payment or consideration for the assignment
6. Representations and Warranties: Assignor's warranties regarding ownership, right to assign, and status of the debt
7. Assignor's Obligations: Details the Assignor's duties in facilitating the assignment and future responsibilities
8. Assignee's Obligations: Outlines the Assignee's responsibilities and commitments
9. Debtor's Acknowledgment: Confirmation of the debt and acceptance of the assignment
10. Completion: Details of when and how the assignment will be completed
11. Notices: Specifies how formal communications between parties should be made
12. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and relevant jurisdiction
13. Execution: Signature blocks and execution requirements
1. Security: Include when the debt is secured by collateral or guarantees
2. Partial Assignment: Include when only a portion of the debt is being assigned
3. Conditions Precedent: Include when assignment is subject to specific conditions being met
4. Further Assurance: Include when additional documentation or actions may be required post-assignment
5. Confidentiality: Include when parties need to maintain confidentiality about the assignment
6. Tax Provisions: Include when there are specific tax implications to be addressed
7. Assignment Restrictions: Include when there are limitations on further assignment
8. Costs and Expenses: Include when there's a need to specify who bears various transaction costs
1. Schedule 1 - Debt Details: Detailed description of the debt being assigned, including amount, interest rate, payment terms
2. Schedule 2 - Original Debt Agreement: Copy or details of the original agreement creating the debt
3. Schedule 3 - Payment Details: Details of consideration payment and bank account information
4. Schedule 4 - Security Details: If applicable, details of any security or collateral associated with the debt
5. Schedule 5 - Required Notices: Forms of notices required to perfect the assignment
6. Appendix A - Supporting Documents: List of all relevant supporting documents and certificates
Authors
Financial Services
Banking
Real Estate
Corporate Services
Investment Management
Debt Collection
Asset Management
Private Equity
Commercial Lending
Business Restructuring
Legal
Finance
Treasury
Credit Management
Risk Management
Compliance
Corporate Affairs
Debt Recovery
Portfolio Management
Business Development
Chief Financial Officer
Finance Manager
Legal Counsel
Debt Recovery Manager
Credit Manager
Portfolio Manager
Risk Manager
Compliance Officer
Corporate Lawyer
Investment Manager
Treasury Manager
Accounts Receivable Manager
Business Development Manager
Contract Administrator
Financial Controller
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