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Discharge Deed
"I need a Discharge Deed to release ABC Manufacturing Ltd from its obligations under a $2.5M loan agreement dated January 15, 2025, including releases for two personal guarantors and the discharge of associated security interests over company assets."
1. Parties: Identifies all parties to the deed, including the obligor, obligee, and any other relevant parties
2. Background: Recitals setting out the context of the original obligation and the circumstances leading to the discharge
3. Definitions and Interpretation: Defines key terms used in the deed and establishes rules for interpretation
4. Discharge and Release: Core provision that formally discharges the obligations and releases the relevant parties
5. Settlement Amount: Details of any payment or consideration being provided as part of the discharge
6. Mutual Release: Provisions for mutual releases between all parties regarding the discharged obligations
7. Warranties and Representations: Statements by the parties confirming their authority and capacity to enter into the deed
8. Further Assurance: Obligation to execute further documents or take additional steps if needed to give effect to the discharge
9. Governing Law: Specifies that New Zealand law governs the deed
10. Execution: Formal execution block for all parties to sign
1. Confidentiality: Required when parties wish to keep the terms of the discharge confidential
2. Release of Security Interests: Needed when there are registered security interests to be released
3. Guarantor Release: Required when guarantors of the original obligation need to be released
4. Tax Treatment: Include when there are specific tax implications that need to be addressed
5. Survival of Obligations: Specifies any obligations that continue after the discharge
6. Return of Documents: Include when original documents need to be returned or destroyed
7. No Admission of Liability: Required when parties want to make clear the discharge is not an admission of liability
8. Costs: Include when there's a need to specify who bears the costs of the discharge deed
1. Schedule 1 - Original Obligation Details: Details of the obligation being discharged, including dates, amounts, and reference numbers
2. Schedule 2 - Security Interests: List of any security interests to be released
3. Schedule 3 - Settlement Payment Details: Specific details of any settlement payment, including payment method and timing
4. Appendix A - Related Documents: Copies or details of related documents being discharged or released
5. Appendix B - Form of Release: Standard form releases to be filed with relevant authorities if required
Authors
Financial Services
Banking
Real Estate
Construction
Commercial Property
Manufacturing
Professional Services
Retail
Technology
Infrastructure
Mining
Agriculture
Healthcare
Education
Legal
Finance
Compliance
Risk Management
Corporate Secretariat
Treasury
Commercial Operations
Credit Management
Property Management
Executive Leadership
Business Development
Operations
Legal Counsel
Corporate Lawyer
Chief Financial Officer
Finance Manager
Company Secretary
Risk Manager
Compliance Officer
Contract Manager
Commercial Director
Credit Manager
Property Manager
Business Development Manager
Chief Executive Officer
Operations Manager
Treasury Manager
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