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Deed Of Assignment Loan Agreement Template for Singapore

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Key Requirements PROMPT example:

Deed Of Assignment Loan Agreement

"I need a Deed of Assignment Loan Agreement under Singapore law to transfer a secured corporate loan worth SGD 5 million from our investment fund to a third-party purchaser, with completion scheduled for March 15, 2025."

Document background
A Deed Of Assignment Loan Agreement is utilized when there's a need to transfer the rights and benefits of an existing loan from one party to another in Singapore. This document is particularly important in debt trading, loan portfolio management, and corporate restructuring scenarios. The deed must comply with Singapore's strict legal requirements for assignments and should detail the original loan terms, the consideration for the assignment, and any security arrangements. It ensures proper notification to the original borrower and maintains the enforceability of the loan under Singapore law.
Suggested Sections

1. Parties: Details of the assignor and assignee, including full legal names, registration numbers (if companies), and addresses

2. Background: Context of the original loan agreement and reason for assignment, including date and parties of original loan

3. Definitions: Key terms used tHRoughout the agreement including 'Assigned Rights', 'Effective Date', 'Loan Agreement', etc.

4. Assignment: Core terms of the assignment of the loan, including scope of rights being assigned and effective date

5. Consideration: Details of the payment or consideration for the assignment, including amount and payment terms

6. Representations and Warranties: Statements of fact and assurances by the assignor regarding the loan, their authority to assign, and status of the debt

7. Execution: Formal execution requirements for the deed, including signature blocks and witness requirements

Optional Sections

1. Security: Details of any security arrangements, used when the loan is secured by collateral or guarantees

2. Conditions Precedent: Conditions that must be met before assignment becomes effective, such as regulatory approvals or consents

3. Tax Provisions: Provisions dealing with stamp duty, withholding tax, and other tax implications of the assignment

4. Further Assurance: Obligations to execute further documents or take additional steps to perfect the assignment

Suggested Schedules

1. Schedule 1 - Original Loan Agreement: Copy of the loan agreement being assigned

2. Schedule 2 - Notice of Assignment: Form of notice to be given to the original borrower informing them of the assignment

3. Schedule 3 - Payment Schedule: Details of any remaining payment obligations under the loan

4. Schedule 4 - Security Documents: Copies of any security documents relating to the loan (if applicable)

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

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Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual relationships, requirements for valid contracts, and rules regarding assignment of rights in Singapore

Moneylenders Act (Cap. 188): Regulates moneylending activities, including licensing requirements, interest rate restrictions, and regulatory compliance for moneylenders

Banking Act (Cap. 19): Governs banking institutions and financial regulations, particularly relevant if the assignment involves a bank or financial institution

Conveyancing and Law of Property Act (Cap. 61): Specifies requirements for valid assignments, legal formalities for deeds, and registration requirements in property transactions

Stamp Duties Act (Cap. 312): Covers stamp duty obligations, timing of payments, and applicable rates for legal documents and transactions

Contract Law Principles: Fundamental principles including offer and acceptance, consideration, capacity to contract, and free consent requirements

Personal Data Protection Act 2012: Regulates the handling of personal data, consent requirements, and data protection obligations in business transactions

Common Law and Equitable Principles: Relevant case law and equitable principles regarding assignment, execution of deeds, and notice requirements to relevant parties

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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