Loan Assignment Agreement

Loan Assignment Agreement Template for Denmark

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Document background

The Loan Assignment Agreement is a crucial document used in Danish financial and commercial transactions when a lender wishes to transfer its rights and obligations under a loan agreement to a new lender. This document is particularly relevant in scenarios such as loan portfolio sales, restructuring of lending arrangements, or strategic exits from lending positions. The agreement must comply with Danish law, particularly the Danish Contracts Act (Aftaleloven) and Assignment Act (Gældsbrevslov), and includes essential information about the original loan, the parties involved, purchase price, and completion mechanics. It's commonly used by financial institutions, investment firms, and corporations operating in Denmark, and may require consideration of regulatory requirements, especially when regulated entities are involved. The document typically includes various schedules detailing the loan terms, security arrangements, and necessary consents.

Suggested Sections

1. Parties: Identification of the Assignor (current lender), Assignee (new lender), and Borrower (if party to the agreement)

2. Background: Context of the original loan agreement and the purpose of the assignment

3. Definitions: Definitions of key terms used throughout the agreement

4. Assignment: Core provisions detailing the assignment of rights and obligations under the loan

5. Purchase Price and Payment: Terms of consideration for the assignment and payment mechanics

6. Completion: Conditions precedent, timing, and mechanics for completing the assignment

7. Representations and Warranties: Statements of fact and assurances from the Assignor regarding the loan and its authority

8. Further Assurance: Obligations to execute further documents and take additional steps if needed

9. Notices: Communication procedures between parties

10. Assignment and Transfer: Restrictions on further assignment of rights under this agreement

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

Optional Sections

1. Security Assignment: Required if any security interests are being transferred with the loan

2. Regulatory Compliance: Include if either party is a regulated entity or if the transaction requires regulatory approval

3. Tax Provisions: Include specific tax-related provisions if there are particular tax implications

4. Borrower Consent: Include if borrower's consent is required and obtained for the assignment

5. Anti-Money Laundering: Include if required by the nature of the parties or regulatory requirements

6. Data Protection: Include specific provisions regarding handling of personal data if relevant

7. Set-off Rights: Include if specific set-off arrangements are needed

8. Costs and Expenses: Include if there's a specific agreement on transaction costs

9. Confidentiality: Include if specific confidentiality obligations are required beyond standard practice

Suggested Schedules

1. Details of the Loan: Complete details of the loan being assigned, including amount, interest rate, maturity

2. Copy of Original Loan Agreement: The loan agreement being assigned

3. Security Documents: Copies of any security documents related to the loan

4. Form of Notice to Borrower: Template for notifying the borrower of the assignment

5. Completion Requirements: Detailed list of documents and actions required for completion

6. Powers of Attorney: Any required powers of attorney for executing the assignment

7. Existing Payment Details: Current payment arrangements and new payment instructions

8. Required Consents: Copies of any required third-party or regulatory consents

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