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1. Parties: Identifies and defines the Lender and Borrower, including their full legal names and addresses
2. Background: Recitals describing the original loan agreement, its key terms, and the parties' intention to cancel the loan and provide mutual releases
3. Definitions: Defines key terms used throughout the agreement, including 'Loan Agreement', 'Outstanding Amount', and 'Effective Date'
4. Acknowledgment of Debt: Confirms the current outstanding amount under the loan agreement before cancellation
5. Cancellation: Details the terms and conditions of the loan cancellation, including the effective date and scope
6. Release and Discharge: Mutual releases between parties from all obligations under the original loan agreement
7. Representations and Warranties: Each party's confirmations regarding their authority and capacity to enter into the agreement
8. Confidentiality: Obligations to keep the terms of the cancellation agreement confidential
9. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and Hong Kong courts' jurisdiction
10. General Provisions: Standard boilerplate provisions including entire agreement, amendments, and counterparts
1. Partial Repayment: Include when there is a final partial payment as part of the cancellation arrangement
2. Security Release: Required when the original loan was secured by any assets or guarantees that need to be released
3. Tax Provisions: Include when there are specific tax implications of the debt cancellation that need to be addressed
4. Regulatory Compliance: Required for regulated lenders or when specific regulatory requirements must be met
5. Related Party Releases: Include when guarantors or other related parties need to be released
6. Surviving Provisions: Specify when certain provisions of the original loan agreement should survive the cancellation
1. Schedule 1 - Original Loan Agreement: Copy or details of the original loan agreement being cancelled
2. Schedule 2 - Outstanding Amount Calculation: Detailed calculation of the outstanding amount being cancelled, including principal, interest, and any fees
3. Schedule 3 - Security Documents: List of security documents to be released (if applicable)
4. Appendix A - Form of Release Confirmation: Standard form for confirming the release and cancellation for filing purposes
5. Appendix B - Required Regulatory Notices: Any notices or forms required by Hong Kong regulatory authorities
Business Day
Cancellation Date
Discharge Documents
Effective Date
Encumbrance
Event of Default
Group Companies
HKD
Hong Kong
Loan
Loan Agreement
Loan Documents
Outstanding Amount
Parties
Release Date
Released Claims
Released Parties
Security
Security Documents
Settlement Amount
Surviving Provisions
Tax
Working Day
Assignment
Authority
Cancellation
Confidentiality
Costs and Expenses
Counterparts
Entire Agreement
Further Assurance
Governing Law
Indemnification
Jurisdiction
Notices
Release and Discharge
Representations and Warranties
Security Release
Severability
Survival
Tax
Third Party Rights
Waiver
Banking
Financial Services
Investment Management
Real Estate
Private Equity
Corporate Finance
Small and Medium Enterprises
Retail Banking
Commercial Banking
Asset Management
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Loan Administration
Risk Management
Company Secretarial
Corporate Finance
Chief Financial Officer
Finance Director
Legal Counsel
Compliance Officer
Credit Manager
Loan Officer
Risk Manager
Treasury Manager
Corporate Banker
Financial Controller
Company Secretary
Legal Director
Banking Relationship Manager
Debt Recovery Officer
Portfolio Manager
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