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1. Parties: Identifies and defines the parties to the agreement - typically the creditor and debtor
2. Background: Recitals explaining the context of the original debt and the reason for the delayed payment arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Original Debt Acknowledgment: Details of the original debt amount, date incurred, and confirmation of the debt's validity
5. New Payment Terms: Specifies the revised payment schedule, including amounts, dates, and payment methods
6. Interest and Charges: Details of any interest or additional charges applicable to the delayed payment arrangement
7. Default Provisions: Consequences of missing payments or breaching the agreement terms
8. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority to enter into the agreement
9. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and Hong Kong courts' jurisdiction
10. Notices: How formal communications between parties should be made and delivered
11. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability
1. Security Arrangements: Include when the delayed payment is secured by assets or collateral
2. Guarantee Provisions: Include when a third party is guaranteeing the debt
3. Early Payment Provisions: Include when early payment options or discounts are offered
4. Confidentiality: Include when parties wish to keep the arrangement confidential
5. Insurance Requirements: Include when specific insurance must be maintained against the secured assets
6. Cross-Default Provisions: Include when the agreement should be linked to other financial obligations
7. Force Majeure: Include when parties want protection against unforeseen circumstances affecting payment ability
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment dates, amounts, and methods
2. Schedule 2 - Original Debt Documentation: Copies or details of the original debt agreements or invoices
3. Schedule 3 - Security Details: Details of any security or collateral provided (if applicable)
4. Schedule 4 - Guarantee Agreement: Copy of the guarantee agreement if a third-party guarantor is involved
5. Appendix A - Calculation of Interest: Methodology and examples of interest calculations if applicable
6. Appendix B - Contact Details: List of authorized contacts and their details for both parties
Original Debt
Original Payment Date
Business Day
Creditor
Debtor
Default
Default Interest Rate
Due Date
Effective Date
Event of Default
Final Payment Date
Guarantee
Guarantor
Hong Kong
Interest Period
Interest Rate
Late Payment Fee
Material Adverse Change
Original Agreement
Payment Date
Payment Schedule
Permitted Delay
Principal Amount
Revised Payment Terms
Security
Security Document
Security Interest
Specified Currency
Term
Outstanding Amount
Working Day
Notice
Party/Parties
Repayment Schedule
Default Notice
Enforcement Action
Secured Assets
Applicable Law
Confidential Information
Debt Acknowledgment
Payment Terms
Interest
Security
Representations and Warranties
Default
Acceleration
Cross-Default
Force Majeure
Assignment
Confidentiality
Notices
Further Assurance
Costs and Expenses
Set-off
Amendments
Waiver
Severability
Counterparts
Third Party Rights
Governing Law
Jurisdiction
Dispute Resolution
Guarantee
Early Payment
Information Undertakings
Financial Covenants
Entire Agreement
Time of Essence
Financial Services
Manufacturing
Retail
Construction
Real Estate
Technology
Professional Services
Healthcare
Education
Import/Export
Logistics
Wholesale Trade
Hospitality
Entertainment
Legal
Finance
Accounts Receivable
Accounts Payable
Treasury
Credit Control
Risk Management
Commercial Operations
Procurement
Corporate Secretary
Compliance
Chief Financial Officer
Finance Director
Credit Controller
Accounts Receivable Manager
Treasury Manager
Financial Controller
Credit Risk Manager
Legal Counsel
Contracts Manager
Commercial Director
Chief Operating Officer
Accounts Payable Manager
Collections Manager
Business Development Manager
Risk Management Officer
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