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Deed Of Assignment Loan Agreement

Deed Of Assignment Loan Agreement Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Assignment Loan Agreement

"I need a Deed of Assignment Loan Agreement under Malaysian law for a RM 2.5 million business loan to be secured by assignment of rental income from a commercial property in Kuala Lumpur, with the loan to be disbursed by March 2025."

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Document background
The Deed of Assignment Loan Agreement is a crucial document in Malaysian financial transactions, combining lending and security arrangements in a single instrument. It is particularly relevant when a borrower needs to secure a loan by assigning their rights, receivables, or property interests to the lender. This document type is commonly used in property financing, project development, and commercial lending scenarios in Malaysia. The agreement must comply with Malaysian law, including the Contracts Act 1950, National Land Code 1965, and relevant financial services regulations. The deed typically includes detailed terms of the loan, specific rights being assigned, repayment schedules, and enforcement mechanisms. It requires proper stamping under the Stamp Act 1949 to be admissible in Malaysian courts and must be properly witnessed and executed to be valid.
Suggested Sections

1. Parties: Identification of the Assignor (Borrower), Assignee (Lender), and any other relevant parties

2. Background: Recitals explaining the context of the loan and assignment arrangement

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

4. Loan Amount and Purpose: Specification of the loan amount, purpose, and disbursement terms

5. Assignment: Details of the rights, title, and interest being assigned as security

6. Repayment Terms: Schedule of repayment, interest rates, and payment methods

7. Representations and Warranties: Statements of fact and assurances from both parties

8. Covenants: Positive and negative obligations of the parties during the loan term

9. Events of Default: Circumstances constituting default and consequences thereof

10. Enforcement Rights: Rights and remedies of the Assignee upon default

11. Costs and Expenses: Allocation of legal fees, stamp duty, and other costs

12. Notices: Communication procedures between parties

13. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, etc.

14. Execution: Formal execution blocks for all parties and witnesses

Optional Sections

1. Security Provisions: Additional security arrangements beyond the assignment, used when multiple forms of security are provided

2. Insurance: Requirements for insurance coverage, included when specific assets need protection

3. Guarantee: Terms of guarantee if a guarantor is involved in the transaction

4. Assignment and Transfer: Rights to assign or transfer the agreement, included when such flexibility is needed

5. Step-In Rights: Rights of the Assignee to take control of certain assets or contracts, used in complex commercial loans

6. Force Majeure: Provisions for unforeseen circumstances, included in longer-term loans

7. Variation of Terms: Mechanism for varying loan terms, included when flexibility might be needed

Suggested Schedules

1. Schedule 1 - Loan Details: Detailed breakdown of loan amount, interest calculations, and repayment schedule

2. Schedule 2 - Assigned Rights: Detailed description of the rights, contracts, or property being assigned

3. Schedule 3 - Conditions Precedent: List of conditions to be satisfied before loan disbursement

4. Schedule 4 - Form of Notices: Template notices for assignment, payment instructions, etc.

5. Schedule 5 - Property Details: If property is involved, detailed description and title particulars

6. Appendix A - Payment Schedule: Detailed amortization table showing payment dates and amounts

7. Appendix B - Required Documents: List of supporting documents required from the Assignor

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Assignee
Assignor
Assigned Rights
Business Day
Commencement Date
Default Interest
Disbursement
Due Date
Effective Date
Event of Default
Facility
Interest Rate
Interest Period
Loan
Loan Amount
Material Adverse Effect
Notice
Outstanding Amount
Payment Date
Principal Sum
Property
Repayment Schedule
Security
Security Documents
Security Interest
Secured Obligations
Term
Transaction Documents
Ringgit Malaysia
Maturity Date
Identity Card
Guarantee
Guarantor
Legal Charges
Permitted Security Interest
Receiver
Registration
Related Corporation
Stamp Duty
Working Day
Relevant Industries

Banking and Financial Services

Real Estate

Construction

Manufacturing

Commercial Property

Retail

Industrial

Infrastructure

Small and Medium Enterprises

Corporate Finance

Relevant Teams

Legal

Finance

Credit

Risk Management

Compliance

Corporate Secretarial

Treasury

Commercial Operations

Property Management

Banking Operations

Relevant Roles

Legal Counsel

Finance Manager

Corporate Lawyer

Loan Officer

Credit Manager

Risk Manager

Company Secretary

Commercial Director

Chief Financial Officer

Banking Executive

Property Manager

Contract Administrator

Compliance Officer

Treasury Manager

Industries
Contracts Act 1950: Primary legislation governing contract formation, validity, and enforcement in Malaysia. Essential for ensuring the loan agreement meets basic contractual requirements.
National Land Code 1965: Governs property transactions and rights in Malaysia, particularly relevant for the assignment aspect of the agreement.
Stamp Act 1949: Mandates stamp duty requirements for legal documents including loan agreements and assignments. The deed must be properly stamped to be admissible in court.
Money Lenders Act 1951: If the lender is a money lender, this Act regulates the terms and conditions of the loan, including interest rates and licensing requirements.
Civil Law Act 1956: Contains provisions regarding interest rates and other contractual matters relevant to loan agreements.
Financial Services Act 2013: Regulates financial institutions and financial contracts if the lender is a licensed financial institution.
Specific Relief Act 1950: Provides remedies in case of breach of contract and enforcement of contractual rights.
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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