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Assignment Of Proceeds Agreement
"I need an Assignment of Proceeds Agreement under Qatar law for a construction project where the contractor is assigning progress payment rights to a local bank as security for a financing facility, with the assignment to take effect from March 1, 2025."
1. Parties: Identification of the Assignor, Assignee, and any other relevant parties such as the Original Debtor
2. Background: Context of the assignment, including details of the underlying contract or arrangement generating the proceeds
3. Definitions: Definitions of key terms used throughout the agreement
4. Assignment: Core provision detailing the assignment of proceeds, specific rights being transferred, and effective date
5. Payment Mechanics: Details of how payments will be processed, including bank account details and payment instructions
6. Representations and Warranties: Standard warranties about authority to assign, ownership of proceeds, and absence of encumbrances
7. Covenants: Ongoing obligations of the parties, including notification requirements and documentation
8. Events of Default: Circumstances constituting default and consequences
9. Governing Law and Jurisdiction: Confirmation of Qatar law as governing law and jurisdiction for disputes
10. Notices: Communication procedures and contact details for formal notices
11. Execution: Signature blocks and execution formalities
1. Security Provisions: Additional security arrangements, used when the assignment is part of a secured financing structure
2. Tax Provisions: Specific tax-related provisions, included when tax implications need to be addressed explicitly
3. Currency Provisions: Required when payments may be made in multiple currencies or currency conversion is needed
4. Step-In Rights: Included when the assignee needs rights to directly enforce the underlying contract
5. Consent Requirements: Used when third-party consents are needed for the assignment
6. Islamic Finance Provisions: Required when the assignment needs to be Shariah-compliant
1. Schedule 1 - The Underlying Contract: Copy or details of the contract generating the proceeds being assigned
2. Schedule 2 - Form of Notice: Template notice to be sent to the debtor regarding the assignment
3. Schedule 3 - Payment Details: Detailed payment instructions and bank account information
4. Schedule 4 - Conditions Precedent: List of documents and conditions required before the assignment becomes effective
5. Appendix A - Power of Attorney: If required, form of power of attorney for executing documents or receiving payments
6. Appendix B - Calculation of Proceeds: If the proceeds calculation is complex, detailed methodology and examples
Authors
Banking & Finance
Construction & Infrastructure
Energy & Resources
Project Finance
International Trade
Real Estate
Manufacturing
Oil & Gas
Telecommunications
Government & Public Sector
Legal
Finance
Treasury
Commercial
Risk Management
Compliance
Corporate Finance
Project Finance
Banking
Operations
Legal Counsel
Finance Director
Chief Financial Officer
Treasury Manager
Project Finance Manager
Commercial Director
Contract Manager
Risk Manager
Compliance Officer
Corporate Finance Manager
Senior Banker
Transaction Manager
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