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Loan Transfer Agreement
"I need a Loan Transfer Agreement for transferring a secured corporate loan of 500 million Naira from First Bank of Nigeria to Access Bank, with the transfer to complete by March 2025 and including provisions for existing collateral transfer."
1. Parties: Identification of the Existing Lender (Transferor), New Lender (Transferee), and Borrower
2. Background: Context of the original loan agreement and the intention to transfer the loan
3. Definitions: Definitions of key terms used throughout the agreement
4. Transfer and Assignment: Core provisions detailing the transfer of rights, obligations, and security interests
5. Transfer Price and Payment: Details of the consideration for the transfer and payment mechanics
6. Completion Requirements: Conditions precedent and actions required to complete the transfer
7. Representations and Warranties: Statements of fact and assurances from both transferor and transferee
8. Transferor's Obligations: Ongoing obligations and responsibilities of the existing lender
9. Transferee's Obligations: Obligations and responsibilities assumed by the new lender
10. Borrower's Position: Confirmation of borrower's rights and obligations remaining unchanged
11. Notices: Communication protocols and contact details for all parties
12. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction details
13. Execution: Signature blocks and execution formalities
1. Security Transfer: Required when there are security interests being transferred along with the loan
2. Partial Transfer Provisions: Include when only a portion of the loan is being transferred
3. Multiple Loan Provisions: Required when the transfer involves multiple loan facilities
4. Tax Provisions: Detailed tax implications and responsibilities when significant tax considerations exist
5. Regulatory Compliance: Specific provisions when the transfer requires regulatory approvals or notifications
6. Post-Completion Obligations: Include when there are specific post-transfer requirements or ongoing obligations
7. Costs and Expenses: Detailed allocation of transfer-related costs when these are significant or complex
1. Schedule 1 - Loan Details: Details of the loan being transferred including amount, interest rate, and payment terms
2. Schedule 2 - Security Details: List and details of any security interests being transferred
3. Schedule 3 - Transfer Documents: List of all documents required for the transfer
4. Schedule 4 - Completion Requirements: Detailed checklist of conditions precedent and completion requirements
5. Schedule 5 - Form of Transfer Notices: Template notices to be sent to relevant parties
6. Appendix A - Original Loan Agreement: Copy of the original loan agreement being transferred
7. Appendix B - Security Documents: Copies of relevant security documents
8. Appendix C - Regulatory Approvals: Copies of any required regulatory approvals or notifications
Authors
New Lender
Borrower
Original Loan Agreement
Transfer Date
Completion Date
Cut-off Date
Effective Date
Transfer Price
Outstanding Principal
Accrued Interest
Default Interest
Security Interest
Security Documents
Transfer Documents
Completion Requirements
Conditions Precedent
Facility Agent
Security Trustee
Account Bank
Business Day
Nigerian Business Day
Relevant Authority
Central Bank
BOFIA
Regulatory Approvals
Material Adverse Effect
Encumbrance
Assignment Rights
Facility
Loan Portfolio
Transfer Certificate
Notice of Transfer
Related Rights
Security Assets
Representations
Warranties
Transaction Documents
Stamp Duty
Default Event
Enforcement Action
Governing Law
Jurisdiction
Dispute Resolution
Confidential Information
Permitted Assignee
Required Consent
Existing Security
Transfer Fees
Costs and Expenses
Assignment and Transfer
Purchase Price
Payment Terms
Completion
Conditions Precedent
Representations and Warranties
Covenants
Security Transfer
Indemnification
Confidentiality
Data Protection
Notice Requirements
Regulatory Compliance
Anti-Money Laundering
Default
Remedies
Force Majeure
Severability
Amendment
Assignment
Waiver
Costs and Expenses
Stamp Duty
Further Assurance
Counterparts
Entire Agreement
Third Party Rights
Time of Essence
Notices
Governing Law
Jurisdiction
Dispute Resolution
Banking
Financial Services
Investment Management
Asset Management
Corporate Finance
Real Estate
Infrastructure
Private Equity
Debt Collection
Commercial Lending
Legal
Finance
Credit
Risk Management
Compliance
Treasury
Corporate Banking
Loan Administration
Investment
Portfolio Management
Transaction Management
Documentation
Chief Financial Officer
Legal Counsel
Finance Director
Credit Manager
Loan Officer
Portfolio Manager
Risk Manager
Compliance Officer
Treasury Manager
Banking Operations Manager
Investment Manager
Debt Recovery Officer
Corporate Finance Manager
Transaction Manager
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