A Loan Takeover Agreement is utilized when an existing lender wishes to transfer their rights and obligations under a loan agreement to a new lender. This document is particularly important in the English and Welsh jurisdiction, where it must comply with specific financial services regulations and property laws. The agreement typically includes details of the original loan, transfer mechanics, payment arrangements, and any security transfers. It's commonly used in debt restructuring, portfolio sales, or when lenders wish to exit certain markets or reduce exposure to particular sectors.
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1. Parties: Identification of original lender, new lender, and borrower
2. Background: Details of original loan agreement and intention to transfer
3. Definitions: Key terms used throughout the agreement
4. Transfer Provisions: Core terms of the takeover including amounts, dates, and mechanism
5. Representations and Warranties: Statements of fact and assurances from all parties
6. Payment Terms: Details of payment arrangements and scheduling
1. Security Transfer: Required if loan is secured against assets - used when original loan includes security arrangements
2. Regulatory Compliance: FCA and PRA compliance provisions - used when loan involves regulated activities
3. TUPE Provisions: Employment protection measures - used when loan transfer involves business assets with employees
1. Original Loan Agreement: Copy of the original loan agreement being transferred
2. Security Documents: Details of any security arrangements being transferred
3. Payment Schedule: Detailed breakdown of payment arrangements
4. Conditions Precedent: List of conditions that must be satisfied before transfer
5. Form of Transfer Notice: Template for formal notification of transfer
Relevant legal definitions
Agreed Interest Rate
Assigned Rights
Borrower
Business Day
Completion Date
Default Interest Rate
Effective Date
Encumbrance
Existing Loan Agreement
Existing Security
Finance Documents
Financial Indebtedness
Law
Lender Transfer
New Lender
Original Lender
Outstanding Amount
Parties
Payment Date
Permitted Transfer
Related Rights
Relevant Jurisdiction
Security Documents
Security Interest
Transfer Amount
Transfer Certificate
Transfer Date
Transfer Notice
Transfer Period
Transferred Obligations
Transferred Rights
Assigned Rights
Borrower
Business Day
Completion Date
Default Interest Rate
Effective Date
Encumbrance
Existing Loan Agreement
Existing Security
Finance Documents
Financial Indebtedness
Law
Lender Transfer
New Lender
Original Lender
Outstanding Amount
Parties
Payment Date
Permitted Transfer
Related Rights
Relevant Jurisdiction
Security Documents
Security Interest
Transfer Amount
Transfer Certificate
Transfer Date
Transfer Notice
Transfer Period
Transferred Obligations
Transferred Rights
Clauses
Transfer of Rights and Obligations
Consideration
Completion Mechanics
Security Transfer
Representations and Warranties
Payment Terms
Interest
Default
Assignment and Transfer
Notices
Amendments
Confidentiality
Data Protection
Governing Law
Jurisdiction
Severability
Entire Agreement
Counterparts
Further Assurance
Costs and Expenses
Indemnities
Regulatory Compliance
Anti-Money Laundering
Force Majeure
Waiver
Third Party Rights
Remedies and Waivers
Set-off Rights
Stamp Duty
Survival of Terms
Consideration
Completion Mechanics
Security Transfer
Representations and Warranties
Payment Terms
Interest
Default
Assignment and Transfer
Notices
Amendments
Confidentiality
Data Protection
Governing Law
Jurisdiction
Severability
Entire Agreement
Counterparts
Further Assurance
Costs and Expenses
Indemnities
Regulatory Compliance
Anti-Money Laundering
Force Majeure
Waiver
Third Party Rights
Remedies and Waivers
Set-off Rights
Stamp Duty
Survival of Terms
Relevant Industries
Relevant Teams
Relevant Roles
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