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Cession Agreement
"Need a Cession Agreement under Singapore law to transfer our company's payment rights under a construction contract to a bank as security for a new loan, to be completed by March 2025."
1. Parties: Identification of cedent and cessionary, including full legal names and addresses
2. Background: Context of the cession, including description of rights being ceded
3. Definitions: Key terms used throughout the agreement
4. Subject Matter of Cession: Detailed description of rights, obligations, or assets being ceded
5. Effective Date: When the cession takes effect
6. Consideration: Payment or value exchange for the cession
7. Representations and Warranties: Statements about the rights being ceded and parties' authority
8. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes
1. Conditions Precedent: Used when cession is subject to specific conditions being met, such as regulatory approvals or third-party consents
2. Security Provisions: Additional security arrangements for high-value or high-risk cessions
3. Third Party Consents: Requirements and procedures for obtaining necessary third party approvals
4. Regulatory Compliance: Specific provisions addressing compliance with MAS regulations and other regulatory requirements
1. Schedule 1 - Schedule of Ceded Rights: Detailed list and description of all rights being transferred under the agreement
2. Schedule 2 - Form of Notice: Template for notifying relevant parties of the cession
3. Schedule 3 - Related Agreements: List and/or copies of underlying agreements related to ceded rights
4. Schedule 4 - Execution Formalities: Required forms and procedures for completing the cession under Singapore law
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