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Debt Assignment Agreement
"I need a Debt Assignment Agreement under Austrian law to transfer a 鈧500,000 commercial loan from our investment firm to a third-party investor, with completion scheduled for March 15, 2025; the debt is secured by commercial property and we need to include security transfer provisions."
1. Parties: Identification of the Assignor, Assignee, and original debtor (if party to the agreement)
2. Background: Context of the original debt and the reason for assignment
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter of Assignment: Detailed description of the debt being assigned, including amount, origin, and any existing security
5. Assignment: Core provision effecting the transfer of the debt from Assignor to Assignee
6. Purchase Price: The consideration paid for the assignment and payment terms
7. Representations and Warranties: Assignor's warranties regarding the validity and status of the debt
8. Completion: Steps to be taken to complete the assignment, including notifications and registrations
9. Further Assurance: Obligations to execute additional documents or take further steps if needed
10. Notices: Process for giving formal notices under the agreement
11. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction
1. Security Transfer: Required when existing security interests are being transferred with the debt
2. Data Protection: Include when personal data processing is involved, especially with consumer debtors
3. Interest and Costs: Include when specific arrangements for accrued/future interest need to be addressed
4. Consumer Protection Provisions: Required when one party is a consumer under KSchG
5. Multiple Debts: Include when the assignment covers multiple debts or a portfolio
6. Regulatory Compliance: Include when assignment involves regulated entities or requires regulatory approvals
7. Confidentiality: Include when parties need to keep assignment details confidential
1. Schedule 1 - Debt Details: Detailed description of the assigned debt(s), including account numbers, amounts, and payment history
2. Schedule 2 - Security Documents: List and copies of any security documents relating to the assigned debt
3. Schedule 3 - Existing Notices: Copies of any relevant notices already given to the debtor
4. Schedule 4 - Form of Notice to Debtor: Template notice to inform debtor of the assignment
5. Schedule 5 - Transfer Documents: Forms of any additional transfer documents required
6. Appendix A - Original Debt Agreement: Copy of the original agreement creating the assigned debt
7. Appendix B - Power of Attorney: If required for completion actions
Authors
Financial Services
Banking
Insurance
Real Estate
Corporate Finance
Debt Collection
Asset Management
Investment Banking
Private Equity
Commercial Lending
Healthcare Finance
Construction Finance
Manufacturing
Retail Finance
Legal
Finance
Credit Management
Risk Management
Compliance
Treasury
Corporate Development
Debt Collection
Investment Operations
Portfolio Management
Transaction Management
Legal Operations
Legal Counsel
Finance Director
Credit Manager
Debt Collection Officer
Investment Manager
Portfolio Manager
Risk Manager
Compliance Officer
Corporate Lawyer
Transaction Manager
Chief Financial Officer
Treasury Manager
Business Development Manager
Restructuring Officer
Legal Operations Manager
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