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Assignment Of Debt Agreement
"I need a Swiss-law Assignment of Debt Agreement where my manufacturing company will transfer a CHF 2.5 million debt to our newly formed subsidiary, with the transfer to be effective March 1, 2025, and our bank has already agreed to the transfer."
1. Parties: Identification of the Original Debtor (Assignor), New Debtor (Assignee), and Creditor
2. Background: Context of the original debt and the reason for the assignment
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter of Assignment: Detailed description of the debt being assigned, including amount, origin, and any specific characteristics
5. Assignment and Assumption: Express provisions regarding the transfer of debt from Assignor to Assignee
6. Consideration: Details of any payment or consideration for the assignment
7. Creditor's Consent: Express consent of the creditor to the assignment of debt
8. Representations and Warranties: Statements by the parties regarding their capacity and authority to enter into the agreement
9. Effective Date: Specification of when the assignment becomes effective
10. Notices: Requirements and procedures for giving notices under the agreement
11. Governing Law and Jurisdiction: Confirmation of Swiss law as governing law and jurisdiction for disputes
12. Execution: Signature blocks and execution requirements
1. Security Interests: Details of any existing or new security interests related to the debt - include when the debt is secured
2. Conditions Precedent: Specific conditions that must be met before the assignment becomes effective - include for complex transactions
3. Tax Provisions: Allocation of tax liabilities - include when tax implications are significant
4. Further Assurances: Obligations to execute additional documents - include for complex assignments
5. Partial Assignment: Provisions governing partial assignment of debt - include when only part of the debt is being assigned
6. Currency Provisions: Include for cross-border assignments involving different currencies
7. Step-In Rights: Rights of parties to step in under certain circumstances - include for complex commercial arrangements
1. Schedule 1 - Debt Details: Detailed description of the debt being assigned, including payment terms, interest rates, and outstanding amount
2. Schedule 2 - Original Debt Agreement: Copy or details of the original agreement creating the debt
3. Schedule 3 - Payment Details: Banking and payment information for ongoing debt servicing
4. Appendix A - Consent Form: Form of creditor's consent if not provided in the main agreement
5. Appendix B - Notice of Assignment: Template for notifying relevant parties of the assignment
6. Appendix C - Security Documents: Copies of any relevant security documents if the debt is secured
Authors
Banking and Financial Services
Corporate Finance
Real Estate
Manufacturing
Construction
Retail
Healthcare
Technology
Energy
Infrastructure
Professional Services
Insurance
Legal
Finance
Treasury
Risk Management
Corporate Development
Accounting
Compliance
Credit Control
Corporate Secretariat
Business Development
Mergers & Acquisitions
Chief Financial Officer
Finance Director
Corporate Treasurer
Financial Controller
Legal Counsel
Corporate Lawyer
Debt Manager
Credit Manager
Risk Manager
Transaction Manager
Corporate Secretary
Business Development Director
Restructuring Officer
M&A Director
Account Manager
Finance Manager
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