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Promissory Note Transfer Agreement
I need a Promissory Note Transfer Agreement for transferring a commercial promissory note valued at AED 500,000 from my trading company to a financial institution, with the transfer to be completed by March 15, 2025.
1. Parties: Identification of the Transferor (current holder of the promissory note) and Transferee (recipient of the promissory note), including full legal names and addresses
2. Background: Context of the transfer, including details about the original promissory note's issuance and current ownership
3. Definitions: Key terms used in the agreement, including 'Promissory Note', 'Transfer Date', 'Consideration', and other relevant terms
4. Transfer and Assignment: Core provision detailing the transfer of rights and title to the promissory note from Transferor to Transferee
5. Consideration: Details of the payment or other consideration for the transfer of the promissory note
6. Representations and Warranties: Transferor's warranties regarding ownership, validity, and enforceability of the promissory note
7. Delivery and Documentation: Requirements for physical delivery of the promissory note and supporting documentation
8. Governing Law and Jurisdiction: Specification of UAE law as governing law and designation of competent courts
9. Notices: Process and requirements for formal communications between parties
10. Execution: Signature blocks and execution requirements
1. Further Assurance: Additional commitments to take necessary actions to perfect the transfer, used when regulatory approvals or additional documentation might be needed
2. Recourse Rights: Optional provisions specifying whether the transfer is with or without recourse to the Transferor
3. Tax Provisions: Include when the transfer has specific tax implications that need to be addressed
4. Confidentiality: Include when parties wish to keep the terms of transfer confidential
5. Anti-Money Laundering Compliance: Include when the transfer involves significant sums or when parties are subject to specific regulatory requirements
1. Schedule 1 - Promissory Note Details: Copy or details of the original promissory note, including issue date, maturity date, face value, and payment terms
2. Schedule 2 - Form of Transfer Endorsement: Prescribed format for the endorsement to be made on the promissory note
3. Schedule 3 - Supporting Documents: List of all supporting documents evidencing the chain of title and validity of the promissory note
4. Appendix A - Payment Details: Bank account and payment instruction details for the transfer consideration
5. Appendix B - Required Notices: Forms of any required notices to be given to the original issuer or other parties
Authors
Banking & Financial Services
Commercial Trading
Manufacturing
Import/Export
Real Estate
Construction
Professional Services
Investment & Securities
Industrial
Retail
Legal
Finance
Treasury
Credit Control
Compliance
Risk Management
Commercial Operations
Corporate Finance
Accounts Receivable
Business Development
Chief Financial Officer
Finance Manager
Treasury Manager
Legal Counsel
Corporate Lawyer
Commercial Director
Credit Manager
Financial Controller
Accounts Receivable Manager
Risk Manager
Compliance Officer
Business Development Manager
Contract Manager
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