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1. Parties: Identifies all parties to the agreement: the original borrower, the assuming party, and the lender
2. Background: Recites the details of the original loan agreement and the intention to assume the loan
3. Definitions: Defines key terms used throughout the agreement
4. Assumption of Loan: Details the assuming party's agreement to take over the loan obligations and the original borrower's release
5. Lender's Consent: Documents the lender's approval of the assumption and any conditions attached
6. Representations and Warranties: Statements of fact and assurances from the assuming party regarding their ability to perform the loan obligations
7. Effective Date and Conditions Precedent: Specifies when the assumption takes effect and any conditions that must be met beforehand
8. Payment Terms: Confirms the payment obligations being assumed, including amount, interest rate, and payment schedule
9. Covenants: Ongoing obligations and restrictions applicable to the assuming party
10. Events of Default: Circumstances that constitute default under the assumed loan
11. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and establishes jurisdiction for disputes
1. Security and Collateral: Required if the original loan is secured by collateral or if new security is being provided
2. Islamic Finance Provisions: Required if the loan is Shariah-compliant and involves Islamic banking principles
3. Guarantees: Required if there are third-party guarantors for the assumed loan
4. Tax Provisions: Include when there are specific tax implications or requirements related to the loan assumption
5. Insurance Requirements: Include when specific insurance must be maintained by the assuming party
6. Assignment and Transfer: Include if the parties wish to specify conditions for future transfer of the loan
7. Force Majeure: Optional clause dealing with unforeseen circumstances affecting loan performance
1. Original Loan Agreement: Copy or summary of the original loan agreement being assumed
2. Payment Schedule: Detailed schedule of payments including principal and interest calculations
3. Security Details: List and description of any security or collateral associated with the loan
4. Condition Precedent Documents: List of documents required before the assumption becomes effective
5. Compliance Certificates: Forms for ongoing compliance certification if required
6. Consent Documents: Any third-party consents or regulatory approvals required for the assumption
Banking
Financial Services
Real Estate
Construction
Manufacturing
Commercial Property
Retail
Healthcare
Agriculture
Infrastructure
Islamic Finance
Legal
Finance
Credit Risk
Compliance
Corporate Banking
Retail Banking
Islamic Banking
Operations
Treasury
Risk Management
Commercial Banking
Legal Counsel
Finance Manager
Credit Officer
Loan Officer
Compliance Officer
Banking Manager
Risk Manager
Chief Financial Officer
Corporate Secretary
Property Manager
Transaction Manager
Islamic Banking Officer
Treasury Manager
Relationship Manager
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