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Credit Assignment Agreement
1. Parties: Identification of the Assignor and Assignee with full legal names and registration details
2. Background: Context of the assignment, including reference to the original credit agreement and reason for assignment
3. Definitions: Definitions of key terms used throughout the agreement
4. Assignment: Core provision detailing the transfer of rights from Assignor to Assignee
5. Purchase Price: The amount to be paid for the assigned credit and payment terms
6. Completion: The mechanics and timing of the assignment completion
7. Representations and Warranties: Assignor's confirmations about the validity and status of the assigned credit
8. Notifications: Requirements and process for notifying the debtor of the assignment
9. Further Assurance: Obligations to execute additional documents or take further steps if needed
10. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction for disputes
1. Security: Required if any security interests are being transferred along with the credit
2. Data Protection: Required if personal data is involved, addressing GDPR compliance
3. Consumer Protection Provisions: Required if the underlying credit agreement involves consumers
4. Regulatory Compliance: Required if either party is a regulated financial institution
5. Anti-Money Laundering: Required for assignments involving financial institutions or large sums
6. Partial Assignment: Required if only part of the credit is being assigned
7. Future Receivables: Required if the assignment includes future credit rights
8. Set-off Rights: Required if there are existing or potential set-off rights to address
1. Schedule 1 - Details of Assigned Credit: Detailed description of the credit being assigned, including amount, interest rate, and payment terms
2. Schedule 2 - Original Credit Agreement: Copy of the original credit agreement being assigned
3. Schedule 3 - Form of Notice to Debtor: Template for the notification to be sent to the debtor
4. Schedule 4 - Completion Requirements: Checklist of documents and actions required for completion
5. Schedule 5 - Security Details: Details of any security interests being transferred
6. Appendix A - Power of Attorney: If required for the Assignee to act on behalf of the Assignor post-assignment
7. Appendix B - Payment Instructions: Bank account and payment details for the purchase price
Authors
Assigned Credit
Assignor
Assignee
Business Day
Completion
Completion Date
Conditions Precedent
Debtor
Default Interest Rate
Effective Date
Encumbrance
Event of Default
Governing Law
Interest Rate
Long Stop Date
Material Adverse Effect
Notice of Assignment
Original Credit Agreement
Outstanding Amount
Party/Parties
Purchase Price
Related Rights
Relevant Authority
Security
Security Documents
Transaction Documents
Transfer Documents
Working Day
Danish Business Day
Representations and Warranties
Regulatory Requirements
Confidential Information
Data Protection Laws
GDPR
Personal Data
Collection Rights
Payment Date
Cut-off Date
Signing Date
Assignment
Purchase Price
Payment Terms
Completion
Conditions Precedent
Representations and Warranties
Covenants
Security
Notice Requirements
Further Assurance
Costs and Expenses
Confidentiality
Data Protection
Regulatory Compliance
Anti-Money Laundering
Force Majeure
Severability
Entire Agreement
Amendments
Assignment and Transfer
Notices
Waiver
Counterparts
Third Party Rights
Governing Law
Jurisdiction
Dispute Resolution
Indemnification
Tax
Consumer Protection
Set-off Rights
Default
Termination
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