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Debt Transfer Agreement Template for Austria

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Key Requirements PROMPT example:

Debt Transfer Agreement

"I need a Debt Transfer Agreement under Austrian law for transferring a 鈧2.5 million corporate loan from our subsidiary company to our parent company, with the transfer to take effect from March 1, 2025, and the original security arrangements to remain in place."

Document background
The Debt Transfer Agreement is a vital legal instrument used in Austrian business and financial transactions when one party wishes to transfer its debt obligations to another party. This document is particularly relevant in scenarios such as corporate restructuring, business acquisitions, or debt reorganization. The agreement must comply with Austrian legal requirements, specifically the provisions of the Austrian Civil Code (ABGB) regarding debt assumption (Schuld眉bernahme). It typically includes detailed information about the debt being transferred, the terms of transfer, any associated securities or guarantees, and the rights and obligations of all parties involved. This type of agreement is essential for ensuring legal certainty and protecting the interests of all parties in debt transfer transactions, whether in a commercial or consumer context.
Suggested Sections

1. Parties: Identification of the original debtor, the new debtor, and the creditor

2. Background: Context of the original debt and the reason for the transfer

3. Definitions: Definitions of key terms used throughout the agreement

4. Debt Description: Detailed description of the debt being transferred, including amount, interest rates, and payment terms

5. Transfer Agreement: Core provisions regarding the transfer of the debt from original debtor to new debtor

6. Effective Date: Specification of when the transfer becomes effective

7. Representations and Warranties: Statements of fact and assurances from both original and new debtor

8. Creditor's Consent: Express consent of the creditor to the debt transfer

9. Governing Law and Jurisdiction: Confirmation of Austrian law as governing law and jurisdiction for disputes

Optional Sections

1. Security Arrangements: Required if the original debt is secured by collateral or guarantees, addressing the transfer or replacement of security

2. Release Provisions: Include when the original debtor is to be fully released from obligations

3. Conditions Precedent: Include when the transfer is subject to specific conditions being met

4. Tax Provisions: Required when there are specific tax implications of the transfer that need to be addressed

5. Notice Requirements: Include when specific notice requirements to third parties are necessary

6. Assignment and Transfer Restrictions: Include when there are limitations on further transfers or assignments

7. Consumer Protection Provisions: Required when one party is a consumer under Austrian law

Suggested Schedules

1. Schedule 1 - Debt Details: Detailed breakdown of the debt being transferred, including payment history and outstanding amounts

2. Schedule 2 - Payment Terms: Detailed payment terms, including installment schedules if applicable

3. Schedule 3 - Security Details: List and description of any security or collateral associated with the debt

4. Appendix A - Original Loan Agreement: Copy of the original loan or credit agreement creating the debt

5. Appendix B - Security Documentation: Copies of security documents if the debt is secured

6. Appendix C - Consent Documents: Any required third-party consents or regulatory approvals

Authors

Alex Denne

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

Relevant legal definitions






























Clauses






























Relevant Industries

Banking and Financial Services

Corporate Services

Real Estate

Manufacturing

Retail

Construction

Professional Services

Healthcare

Technology

Energy

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Corporate Development

Credit Management

Debt Recovery

Transaction Advisory

Corporate Restructuring

Relevant Roles

Chief Financial Officer

Financial Director

Corporate Lawyer

Legal Counsel

Finance Manager

Credit Manager

Risk Manager

Treasury Manager

Debt Restructuring Specialist

Corporate Finance Manager

Compliance Officer

Business Development Director

Transaction Manager

Banking Relationship Manager

Industries






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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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