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Deed Of Assignment Of Loan Template for New Zealand

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Key Requirements PROMPT example:

Deed Of Assignment Of Loan

"I need a Deed of Assignment of Loan for transferring a secured corporate loan worth NZD 2.5M from ABC Bank Limited to XYZ Investment Fund, with the original borrower being Tech Solutions Ltd., including transfer of all associated security interests and guarantees, to be effective from March 1, 2025."

Document background
The Deed of Assignment of Loan is a crucial document used in New Zealand when transferring loan rights and obligations from one party to another. This document is commonly required in situations such as loan portfolio sales, debt restructuring, corporate reorganizations, or when financial institutions sell or transfer their loan books. The deed must comply with New Zealand legal requirements, particularly the Property Law Act 2007 and the Contract and Commercial Law Act 2017. It includes essential details about the original loan, the parties involved, consideration for the assignment, and any associated security interests. The document serves to protect the interests of all parties by clearly documenting the transfer terms and ensuring the continuing validity and enforceability of the loan under its new ownership.
Suggested Sections

1. Parties: Identifies the Assignor (current loan holder), Assignee (new loan holder), and Borrower (original debtor)

2. Background: Recitals explaining the existing loan arrangement and the intention to assign the loan

3. Definitions and Interpretation: Defines key terms used in the deed and sets out interpretation rules

4. Assignment: Core clause that effects the transfer of the loan and all associated rights from Assignor to Assignee

5. Consideration: States the payment or other consideration for the assignment

6. Effective Date: Specifies when the assignment takes effect

7. Assignor's Warranties: Warranties regarding ownership of the loan, right to assign, and loan status

8. Further Assurance: Obligations to execute further documents or take additional steps if required

9. Notices: Procedure for giving notices under the deed

10. Governing Law: Specifies New Zealand law as governing law and jurisdiction

11. Execution: Formal execution block meeting New Zealand deed requirements

Optional Sections

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

2. Borrower's Acknowledgment: Include if the borrower is party to the deed to acknowledge the assignment

3. Costs and Stamp Duty: Include if there are significant costs to be allocated between parties

4. GST: Required if the assignment has GST implications

5. Confidentiality: Include if specific confidentiality obligations are required

6. Power of Attorney: Include if Assignor grants power of attorney to Assignee to perfect the assignment

7. Partial Assignment: Required if only part of the loan is being assigned

Suggested Schedules

1. Loan Agreement Details: Copy or details of the original loan agreement being assigned

2. Security Details: Details of any security interests associated with the loan

3. Loan Status Schedule: Current balance, payment status, and other key loan details

4. Notice of Assignment: Form of notice to be sent to the Borrower

5. Payment Details: Details of how the assignment consideration is to be paid

Authors

Alex Denne

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

Relevant legal definitions





































Clauses

























Relevant Industries

Banking & Financial Services

Investment Management

Legal Services

Real Estate

Private Equity

Asset Management

Debt Collection

Commercial Lending

Consumer Finance

Corporate Finance

Relevant Teams

Legal

Finance

Credit Administration

Risk Management

Compliance

Corporate Banking

Loan Operations

Investment

Portfolio Management

Transaction Services

Relevant Roles

Legal Counsel

Finance Manager

Credit Manager

Loan Officer

Portfolio Manager

Risk Manager

Compliance Officer

Corporate Lawyer

Banking Executive

Debt Collection Manager

Investment Manager

Transaction Manager

Chief Financial Officer

Legal Director

Company Secretary

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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