Loan Purchase Agreement

Loan Purchase Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a UAE-compliant Loan Purchase Agreement for acquiring a portfolio of Shariah-compliant corporate loans valued at AED 500 million, with completion planned for March 2025, including provisions for gradual transfer of the loan servicing responsibilities."

Document background

The Loan Purchase Agreement is a crucial document used in the UAE financial sector when one financial institution wishes to transfer loan assets to another. This agreement is particularly important in the context of UAE's sophisticated financial market, where both conventional and Islamic banking principles must often be considered. The document typically includes detailed provisions for the transfer of loan rights, obligations, and security interests, while ensuring compliance with UAE Central Bank regulations and local laws. It's commonly used in portfolio sales, debt trading, and financial institution restructuring scenarios, and must address specific UAE requirements around assignment of rights, notice requirements, and regulatory approvals. The agreement needs to be carefully structured to account for UAE Civil and Commercial Code requirements, especially regarding the transfer of obligations and security interests.

Suggested Sections

1. Parties: Identification of the seller (original lender) and purchaser of the loan, including their full legal names, registration details, and addresses

2. Background: Context of the transaction, including details about the original loan and the purpose of the purchase

3. Definitions: Definitions of key terms used throughout the agreement, including financial, technical, and legal terminology

4. Sale and Purchase: Core transaction terms including the loans being sold, purchase price, and completion mechanics

5. Conditions Precedent: Prerequisites that must be satisfied before the purchase becomes effective

6. Completion: Details of the completion process, timing, and actions required by each party

7. Representations and Warranties: Statements of fact and assurances given by both parties, particularly the seller regarding the loan quality

8. Seller's Undertakings: Ongoing obligations of the seller, including document delivery and cooperation requirements

9. Purchase Price and Payment: Detailed terms of the purchase price calculation and payment mechanisms

10. Transfer Mechanics: Process for transferring the loan, including notices to borrowers and registration requirements

11. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

12. Notices: Process and requirements for formal communications between parties

13. Confidentiality: Obligations regarding confidential information and permitted disclosures

Optional Sections

1. Islamic Finance Compliance: Required when the loan being purchased must comply with Shariah principles

2. Security Transfer: Needed when the loan purchase includes transfer of associated security interests

3. Regulatory Compliance: Required for regulated entities or when specific regulatory approvals are needed

4. Tax Provisions: Include when there are specific tax implications or requirements for the transaction

5. Data Protection: Required when personal data is involved in the loan transfer

6. Foreign Exchange Provisions: Include when the loan purchase involves multiple currencies

7. Sub-Participation: Required when the purchase is structured as a sub-participation rather than outright transfer

8. Servicing Arrangements: Include when specific loan servicing arrangements are part of the transaction

Suggested Schedules

1. Schedule 1 - Loan Details: Detailed information about the loan(s) being purchased, including principal amounts, interest rates, and maturity dates

2. Schedule 2 - Loan Documents: List of all relevant loan documentation being transferred

3. Schedule 3 - Form of Transfer Notice: Template for notices to be sent to borrowers regarding the loan transfer

4. Schedule 4 - Completion Requirements: Detailed checklist of documents and actions required for completion

5. Schedule 5 - Securities and Collateral: Details of any security interests or collateral associated with the loans

6. Schedule 6 - Form of Assignment Agreement: Template for any required assignment documentation

7. Appendix A - Calculation of Purchase Price: Detailed methodology for calculating the final purchase price

8. Appendix B - Due Diligence Findings: Summary of key due diligence findings and any identified issues

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking

Financial Services

Investment Management

Asset Management

Debt Trading

Islamic Finance

Private Equity

Corporate Finance

Investment Banking

Non-Banking Financial Institutions

Special Situation Investments

Distressed Asset Management

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Credit

Investment

Portfolio Management

Operations

Islamic Banking

Structured Finance

Special Situations

Deal Advisory

Transaction Management

Relevant Roles

Chief Financial Officer

Head of Treasury

Legal Counsel

Compliance Officer

Investment Manager

Portfolio Manager

Credit Risk Manager

Transaction Manager

Debt Trading Manager

Islamic Finance Specialist

Financial Controller

Senior Credit Officer

Head of Loan Operations

Director of Risk Management

Asset Management Director

Special Situations Manager

Structured Finance Manager

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