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1. Parties: Identifies and defines the Original Creditor, Original Debtor, and New Debtor
2. Background: Describes the original debt obligation and the parties' intention to novate it
3. Definitions and Interpretation: Defines key terms and establishes interpretation rules
4. The Original Debt: Details the existing debt obligation being novated
5. Novation: Core provision establishing the novation, extinction of old debt, and creation of new obligation
6. New Debt Terms: Specifies the terms of the new debt obligation
7. Effective Date: Establishes when the novation takes effect
8. Representations and Warranties: Standard warranties from all parties regarding capacity and authority
9. Costs and Expenses: Allocation of costs related to the novation
10. Notices: Procedures for formal communications between parties
11. General Provisions: Standard boilerplate provisions including governing law, counterparts, etc
1. Conditions Precedent: Used when the novation is conditional upon certain events or actions
2. Security Arrangements: Required when existing security needs to be preserved or new security is being provided
3. Tax Provisions: Needed when there are specific tax implications requiring detailed treatment
4. Regulatory Compliance: Required when the novation requires regulatory approvals or notifications
5. Release and Waiver: Optional additional confirmation of release of original debtor
6. Further Assurance: Used when additional documentation or actions may be needed post-novation
1. Schedule 1 - Original Debt Details: Detailed description of the original debt obligation, including amount, interest rate, and payment terms
2. Schedule 2 - New Debt Terms: Detailed terms of the new debt obligation if different from original
3. Schedule 3 - Security Documents: List and copies of any security documents that need to be transferred or created
4. Schedule 4 - Conditions Precedent: List of any conditions that must be satisfied before novation takes effect
5. Appendix A - Form of Notice: Template for any required notices to third parties
6. Appendix B - Related Agreements: Copies of any related agreements affected by the novation
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Investment Management
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Manufacturing
Private Equity
Insurance
Commercial Property
Energy and Resources
Legal
Finance
Treasury
Credit Risk
Corporate Finance
Compliance
Company Secretarial
Risk Management
Transaction Management
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Corporate Lawyer
Finance Manager
Risk Manager
Company Secretary
Credit Manager
Debt Restructuring Officer
Transaction Manager
Senior Finance Executive
Legal Director
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