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Assignment Of Proceeds Agreement
"I need an Assignment of Proceeds Agreement under Belgian law to transfer the rights to future payments from our solar panel installation project to our lender, with proceeds expected from March 2025 onwards; the agreement should include specific provisions for variable payment amounts based on energy production."
1. Parties: Identifies the Assignor, Assignee, and any other relevant parties (such as the Original Debtor if applicable)
2. Background: Sets out the context of the assignment, including reference to the underlying transaction generating the proceeds
3. Definitions and Interpretation: Defines key terms used in the agreement and establishes interpretation principles
4. Assignment: Core section detailing the assignment of proceeds, including the scope and effective date
5. Consideration: Specifies any payment or other consideration for the assignment
6. Representations and Warranties: Assignor's confirmations regarding their right to assign and the status of the proceeds
7. Perfection Requirements: Steps required to perfect the assignment under Belgian law, including notification requirements
8. Payment Mechanics: Details of how assigned proceeds will be paid and handled
9. Covenants: Ongoing obligations of the parties, particularly the Assignor's duties regarding the proceeds
10. Events of Default: Circumstances constituting default and consequences
11. Governing Law and Jurisdiction: Confirms Belgian law as governing law and specifies jurisdiction for disputes
1. Security Interest: Required if the assignment is intended as security rather than an absolute assignment
2. Tax Provisions: Include when there are specific tax implications or allocations to address
3. Currency Provisions: Required when assigned proceeds are in multiple currencies or currency conversion is needed
4. Further Assurance: Optional section for additional actions parties may need to take to give effect to the assignment
5. Power of Attorney: Include when the Assignee needs power to act in Assignor's name
6. Set-off Rights: Include when set-off rights need to be addressed explicitly
7. Bank Account Details: Required when specific payment routing is needed (though often included in a schedule instead)
1. Schedule 1 - Details of Assigned Proceeds: Detailed description and identification of the proceeds being assigned
2. Schedule 2 - Form of Notice: Template notice to be sent to relevant parties regarding the assignment
3. Schedule 3 - Payment Details: Bank account and payment routing information
4. Schedule 4 - Underlying Agreements: List and/or copies of agreements generating the assigned proceeds
5. Schedule 5 - Conditions Precedent: List of any conditions that must be satisfied before the assignment becomes effective
6. Appendix A - Calculation Methods: If relevant, methods for calculating variable proceeds or payments
Authors
Banking and Finance
Infrastructure and Construction
Energy and Resources
Real Estate
Project Finance
Trade Finance
Manufacturing
Technology and Software
Professional Services
Telecommunications
Legal
Finance
Treasury
Commercial
Risk Management
Compliance
Corporate Finance
Project Finance
Business Development
Operations
Legal Counsel
Finance Director
Treasury Manager
Contract Manager
Project Finance Manager
Commercial Director
Chief Financial Officer
Risk Manager
Corporate Finance Manager
Compliance Officer
Transaction Manager
Business Development Director
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