Loan Purchase Agreement Template for Denmark

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Loan Purchase Agreement

Document background

The Loan Purchase Agreement is essential for transactions involving the transfer of loan portfolios in Denmark. It is commonly used in scenarios such as bank portfolio optimization, non-performing loan sales, strategic debt trading, and financial institution restructuring. The document must comply with Danish financial regulations, including the Financial Business Act and Registration Act, while also addressing EU requirements such as GDPR. The agreement typically covers the purchase price mechanism, conditions precedent, completion mechanics, representations and warranties, and ongoing obligations of both parties. It's particularly important in the Danish market where financial institutions regularly engage in loan portfolio transactions as part of their business strategy and risk management practices.

Suggested Sections

1. Parties: Identification of the seller and purchaser of the loans

2. Background: Context of the transaction and brief description of the loan portfolio being transferred

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and interpretation rules

4. Sale and Purchase: Core transaction terms including purchase price, payment mechanisms, and completion requirements

5. Conditions Precedent: Conditions that must be satisfied before the transfer becomes effective

6. Completion: Mechanics and timing of the transfer, including actions required at completion

7. Purchase Price and Payment: Detailed provisions regarding the calculation and payment of the purchase price

8. Representations and Warranties: Statements of fact and assurances from both parties, particularly regarding the loan portfolio

9. Seller's Undertakings: Ongoing obligations of the seller regarding the loans and transfer process

10. Purchaser's Undertakings: Ongoing obligations of the purchaser regarding the loans and transfer process

11. Further Assurance: Obligations to take additional actions necessary to effect the transfer

12. Data Protection: Compliance with GDPR and Danish data protection requirements

13. Confidentiality: Provisions regarding confidential information and its protection

14. Notices: Process for formal communications between parties

15. Assignment: Restrictions on transfer of rights under the agreement

16. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction for disputes

Optional Sections

1. Security Interest Transfer: Required when the loans being purchased are secured loans, detailing the transfer of associated security interests

2. Servicing Arrangements: Needed when the seller will continue to service the loans post-transfer

3. True Sale Provisions: Required for transactions where ensuring true sale treatment is critical

4. Consumer Protection: Required when the loan portfolio includes consumer loans

5. Anti-Money Laundering: Detailed AML provisions required for high-risk transactions or when specifically required by regulators

6. Tax Provisions: Detailed tax provisions required when there are specific tax implications to be addressed

7. Regulatory Compliance: Additional regulatory provisions required for regulated entities or specific loan types

Suggested Schedules

1. Schedule 1 - The Loan Portfolio: Detailed list and characteristics of loans being purchased

2. Schedule 2 - Loan Documents: List of all documentation relating to each loan being transferred

3. Schedule 3 - Form of Transfer Notice: Template for formal notice of transfer to be used for each loan

4. Schedule 4 - Completion Requirements: Detailed checklist of all documents and actions required at completion

5. Schedule 5 - Seller's Power of Attorney: Form of power of attorney for seller to execute necessary transfer documents

6. Schedule 6 - Purchase Price Calculation: Detailed methodology for calculating the purchase price

7. Schedule 7 - Warranties: Detailed warranties regarding the loan portfolio and related security

8. Appendix A - Data Processing Agreement: Required GDPR compliant data processing agreement

9. Appendix B - Security Transfer Forms: Templates for transfer of security interests

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