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Loan Assignment And Assumption Agreement

Loan Assignment And Assumption Agreement Template for Malaysia

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Loan Assignment And Assumption Agreement

"I need a Loan Assignment and Assumption Agreement for transferring a corporate loan worth RM 5 million from ABC Bank Berhad to XYZ Investment Holdings, with the assignment to take effect from March 1, 2025, including provisions for the transfer of associated security interests and guarantees."

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Document background
The Loan Assignment And Assumption Agreement is a crucial document used in Malaysian financial transactions when an existing lender wishes to transfer its rights and obligations under a loan agreement to a new lender. This document is commonly used in debt restructuring, portfolio sales, or when financial institutions need to rebalance their loan books. It must comply with Malaysian legal requirements, including the Contracts Act 1950, Civil Law Act 1956, and where applicable, the Financial Services Act 2013. The agreement comprehensively documents the assignment price, payment terms, representations and warranties, and any security interest transfers. It requires careful consideration of existing loan terms, regulatory requirements, and often needs borrower consent. The document is particularly important in ensuring smooth transition of loan obligations while maintaining legal enforceability under Malaysian law.
Suggested Sections

1. Parties: Identifies all parties to the agreement: Assignor (original lender), Assignee (new lender), Borrower, and any guarantors

2. Background: Recitals explaining the original loan agreement, reason for assignment, and context of the transaction

3. Definitions: Defines key terms used throughout the agreement, including Loan Agreement, Assigned Rights, Effective Date, etc.

4. Assignment and Assumption: Core provisions detailing the assignment of rights and assumption of obligations

5. Purchase Price and Payment: Details of the consideration paid for the assignment and payment terms

6. Effective Date and Completion: Specifies when the assignment takes effect and conditions for completion

7. Representations and Warranties: Statements of fact and assurances from each party regarding their capacity and authority

8. Borrower's Acknowledgment and Consent: Borrower's formal acknowledgment of the assignment and consent to the transfer

9. Further Assurance: Obligations to execute additional documents or take actions to perfect the assignment

10. Notices: Procedures for giving formal notices under the agreement

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

12. Execution: Signature blocks and execution formalities

Optional Sections

1. Security Assignment: Required if there are any security interests being transferred along with the loan

2. Regulatory Compliance: Include when the assignment involves regulated financial institutions or requires specific regulatory approvals

3. Tax Provisions: Include specific tax-related provisions if the assignment has significant tax implications

4. Guarantor's Consent: Required if the original loan has guarantors who need to consent to the assignment

5. Partial Assignment Provisions: Include if only a portion of the loan is being assigned

6. Confidentiality: Add detailed confidentiality provisions if sensitive commercial information is involved

7. Force Majeure: Include if parties want specific provisions for unforeseen circumstances affecting the assignment

Suggested Schedules

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

2. Assigned Rights and Obligations: Detailed list of all rights and obligations being transferred

3. Payment Details: Specific details of the assignment consideration and payment mechanisms

4. Security Documents: List and copies of any security documents related to the loan

5. Required Consents: Copies of all third-party consents obtained for the assignment

6. Outstanding Loan Balance: Statement of the current loan balance and payment history

7. Form of Notice: Template for notices to be sent to relevant parties regarding the assignment

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

Real Estate

Corporate Finance

Investment Management

Construction

Manufacturing

Infrastructure

Commercial Property

Private Equity

Relevant Teams

Legal

Finance

Credit Risk

Compliance

Treasury

Corporate Finance

Investment

Portfolio Management

Operations

Documentation

Relevant Roles

Legal Counsel

Finance Manager

Credit Risk Officer

Loan Officer

Corporate Finance Manager

Investment Manager

Compliance Officer

Contract Administrator

Portfolio Manager

Treasury Manager

Chief Financial Officer

Risk Manager

Company Secretary

Banking Relationship Manager

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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