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1. Parties: Identifies the original creditor, debtor, and new party
2. Background: Details of the original promissory note and reason for novation
3. Definitions: Key terms used in the document
4. Novation: Core terms of the novation arrangement
5. Release of Original Debtor: Terms releasing the original debtor from obligations
6. Governing Law: Specifies applicable law and jurisdiction
1. Security Arrangements: Details of any security being transferred or renewed - use when the original note included security
2. Payment Terms: Modified payment arrangements if different from original note - use when payment terms are being amended
3. Representations and Warranties: Additional assurances from parties - use when additional certainty is required
1. Original Promissory Note: Copy of the original promissory note being novated
2. Payment Schedule: Details of payment dates and amounts if modified
3. Security Documents: Copies of any security documents being transferred
Consideration
Payment Terms
Transfer of Rights and Obligations
Security Arrangements
Representations and Warranties
Conditions Precedent
Assignment
Notices
Further Assurance
Costs and Expenses
Amendment and Waiver
Severability
Counterparts
Third Party Rights
Entire Agreement
Force Majeure
Confidentiality
Governing Law
Jurisdiction
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