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Debt Assignment Agreement
"I need a Debt Assignment Agreement to transfer a corporate loan of NZD 500,000 from our finance company to a third-party investor, with completion scheduled for March 15, 2025, under New Zealand law."
1. Parties: Identifies the assignor (current debt holder), assignee (party receiving the debt), and debtor
2. Background: Describes the original debt, the assignor's right to assign, and the parties' intention to transfer the debt
3. Definitions and Interpretation: Defines key terms and establishes rules for interpreting the agreement
4. Assignment: Core provision transferring the debt and associated rights from assignor to assignee
5. Consideration: Specifies the payment or other consideration for the assignment
6. Assignor's Warranties: Warranties regarding ownership of debt, right to assign, and validity of debt
7. Completion: Details the completion process and timing of the assignment
8. Notice and Acknowledgment: Requirements for notifying the debtor and obtaining acknowledgment
9. Further Assurance: Obligations to execute further documents or take additional steps if needed
10. Governing Law and Jurisdiction: Specifies New Zealand law as governing law and jurisdiction for disputes
1. Security Interests: Required if the debt is secured by any assets or guarantees
2. Third Party Consents: Needed if the original debt agreement requires consent for assignment
3. Payment Arrangements: Used when specific payment mechanisms or instructions need to be established
4. GST Provisions: Required if the assignment has GST implications
5. Confidentiality: Important when sensitive commercial information is involved
6. Data Protection: Required when significant personal data is being transferred
7. Costs and Expenses: Included when there's a need to specify who bears transaction costs
8. Power of Attorney: Optional provision giving assignee power to enforce debt in assignor's name
1. Schedule 1 - Debt Details: Detailed description of the debt being assigned, including amount, interest rate, and payment terms
2. Schedule 2 - Original Debt Documentation: List and copies of all relevant original debt documents
3. Schedule 3 - Security Details: Details of any security interests or guarantees associated with the debt
4. Schedule 4 - Payment Details: Bank account and payment instruction details
5. Schedule 5 - Form of Notice to Debtor: Template notice to be sent to debtor informing them of the assignment
6. Schedule 6 - Form of Acknowledgment: Template acknowledgment form for debtor to confirm notification of assignment
Authors
Assigned Debt
Assignment
Assignment Date
Assignor
Assignee
Business Day
Completion
Completion Date
Consideration
Debtor
Debt Documents
Default Interest Rate
Effective Date
Encumbrance
Event of Default
GST
Guaranteed Obligations
Guarantor
Interest Rate
Legal Requirements
Liabilities
Notice
Original Debt Agreement
Outstanding Amount
Parties
Payment Date
Principal Amount
Related Rights
Relevant Documents
Security
Security Interest
Security Provider
Transaction Documents
Working Day
Consideration
Representations and Warranties
Completion
Payment
Notice
Security Interest
Further Assurance
Costs
GST
Confidentiality
Data Protection
Power of Attorney
Severability
Entire Agreement
Amendment
Waiver
Assignment and Transfer
Notices
Third Party Rights
Force Majeure
Counterparts
Electronic Execution
Governing Law
Dispute Resolution
Indemnification
Default
Remedies
Set-off
Survival
Financial Services
Banking
Insurance
Debt Collection
Asset Management
Private Equity
Corporate Finance
Real Estate
Manufacturing
Retail
Professional Services
Legal
Finance
Treasury
Credit Control
Debt Collection
Risk Management
Compliance
Commercial
Corporate Development
Investment
Portfolio Management
Chief Financial Officer
Finance Director
Legal Counsel
Commercial Manager
Credit Manager
Debt Collection Manager
Treasury Manager
Account Manager
Risk Manager
Compliance Officer
Financial Controller
Corporate Lawyer
Business Development Manager
Portfolio Manager
Investment Manager
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