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Deed Of Assignment Of Loan

Deed Of Assignment Of Loan Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Assignment Of Loan

"I need a Deed of Assignment of Loan under Malaysian law to transfer a corporate loan worth RM 5 million from ABC Bank Berhad to XYZ Investment Corporation, with completion planned for March 2025; the loan is secured by commercial property and we need to include full security assignment provisions."

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Document background
The Deed of Assignment of Loan is a crucial legal instrument in Malaysian financial and commercial transactions, used when transferring rights and interests in loan agreements from one party to another. This document is commonly utilized in debt restructuring, portfolio sales, or when financial institutions sell or transfer loan assets. The deed must comply with Malaysian legal requirements, including proper execution as a deed, stamp duty payment, and registration where necessary. It typically includes detailed provisions about the loan being assigned, warranties from the assignor, consideration for the assignment, and mechanisms for completion. The document is particularly important in Malaysia's financial sector as it ensures the proper transfer of enforcement rights and maintains the security of the loan while adhering to local regulatory requirements.
Suggested Sections

1. Parties: Identifies the Assignor (current loan holder), Assignee (recipient of loan rights), and Borrower (original debtor)

2. Background: Recitals explaining the original loan agreement, current status, and intention to assign

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles

4. Assignment: Core provision transferring all rights, title, and interest in the loan

5. Consideration: States the payment or other consideration for the assignment

6. Assignor's Warranties: Warranties regarding ownership, right to assign, loan status, and no encumbrances

7. Completion: Details the completion process, including delivery of documents and payment

8. Further Assurance: Obligation to execute further documents and perform necessary acts

9. Notices: Procedure for giving notices between parties

10. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and jurisdiction

11. Execution: Formal execution block meeting requirements for a deed under Malaysian law

Optional Sections

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

2. Consent of Borrower: Include if borrower's consent is required or obtained

3. Representations of Assignee: Include if assignee needs to make specific representations

4. Tax Provisions: Required if specific tax implications need to be addressed

5. Confidentiality: Include if loan details are sensitive or confidential

6. Anti-Money Laundering Compliance: Required if assignment involves regulated financial institutions

7. Partial Assignment: Include if only part of the loan is being assigned

8. Power of Attorney: Required if assignor grants power of attorney to assignee

Suggested Schedules

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

2. Schedule 2 - Loan Details: Specific details of the loan including amount, interest rate, payment terms

3. Schedule 3 - Security Documents: List and copies of any security documents related to the loan

4. Schedule 4 - Outstanding Amount: Statement of current outstanding loan amount and payment history

5. Schedule 5 - Form of Notice to Borrower: Template notice informing borrower of the assignment

6. Schedule 6 - Completion Requirements: List of documents and actions required for completion

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 Industries

Banking & Financial Services

Real Estate

Commercial Lending

Investment Management

Private Equity

Asset Management

Corporate Finance

Debt Collection

Financial Technology

Mortgage Services

Relevant Teams

Legal

Finance

Credit Operations

Risk Management

Compliance

Portfolio Management

Corporate Secretarial

Investment

Loan Administration

Transaction Management

Relevant Roles

Legal Counsel

Finance Manager

Credit Manager

Loan Officer

Portfolio Manager

Risk Manager

Compliance Officer

Corporate Lawyer

Debt Recovery Manager

Investment Manager

Transaction Manager

Company Secretary

Financial Controller

Industries
Contracts Act 1950: Primary legislation governing formation and enforcement of contracts in Malaysia, including provisions for assignment of rights and obligations
National Land Code 1965: Relevant if the loan involves property as security, governing registration and transfer of interests in land
Stamp Act 1949: Governs the stamping requirements for instruments including deeds and assignments, making them admissible in court
Powers of Attorney Act 1949: Relevant if the assignment involves execution by attorneys, governing the creation and scope of powers of attorney
Financial Services Act 2013: Regulates financial institutions and may affect assignments involving licensed banks or financial institutions
Civil Law Act 1956: Contains provisions regarding the application of English common law principles on assignments and deeds in Malaysia
Companies Act 2016: Relevant if any party to the assignment is a company, governing execution of documents by companies
Money Lenders Act 1951: Applicable if the original loan was provided by a money lender, affecting the assignment of such loans
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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