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Credit Assignment Agreement

Credit Assignment Agreement Template for Netherlands

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Key Requirements PROMPT example:

Credit Assignment Agreement

"I need a Credit Assignment Agreement under Dutch law for transferring a €5 million commercial real estate loan from ABC Bank NV to XYZ Investment Fund, with completion planned for March 15, 2025, including provisions for existing mortgage security transfer."

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Document background
The Credit Assignment Agreement is utilized when a party wishes to transfer its rights as a creditor to another party under Dutch law. This document is essential in various financial transactions, including debt trading, portfolio sales, corporate restructuring, and securitization arrangements. It is particularly relevant in situations where companies need to manage their loan portfolios, improve liquidity, or transfer credit risks. The agreement must comply with Dutch Civil Code requirements, specifically Articles 3:83-3:94 regarding the assignment of claims (cessie). The document includes crucial details such as the identification of assigned credits, purchase price, warranties about the validity of the credits, and necessary steps for perfecting the assignment. It's commonly used in both single credit transfers and bulk portfolio transactions, requiring careful attention to regulatory compliance, especially when involving regulated entities or consumer credits.
Suggested Sections

1. Parties: Identification of the Assignor (current creditor) and Assignee (new creditor), including full legal names and addresses

2. Background: Context of the assignment, including reference to the original credit agreement and the reason for the assignment

3. Definitions: Definitions of key terms used throughout the agreement, including 'Assigned Rights', 'Credit Agreement', 'Effective Date', etc.

4. Assignment: Core provision detailing the transfer of credit rights from Assignor to Assignee, including the scope of rights being transferred

5. Purchase Price and Payment: Details of the consideration for the assignment and payment terms

6. Representations and Warranties: Assignor's warranties regarding ownership, validity, and status of the assigned credits

7. Completion Requirements: Actions required to complete the assignment, including notifications and registrations

8. Further Assurance: Obligations to execute additional documents or take actions necessary to perfect the assignment

9. Governing Law and Jurisdiction: Specification of Dutch law as governing law and jurisdiction for disputes

Optional Sections

1. Security Transfer: Required when existing security rights need to be transferred along with the credit

2. Data Protection: Required when personal data is involved in the assigned credits, ensuring GDPR compliance

3. Third Party Rights: Needed when the credits are subject to third party rights or restrictions

4. Tax Provisions: Include when specific tax implications need to be addressed

5. Confidentiality: Required for sensitive commercial assignments

6. Anti-Money Laundering Compliance: Include for assignments involving regulated entities or substantial amounts

7. Partial Assignment: Required when only part of a credit is being assigned

Suggested Schedules

1. Schedule 1 - Assigned Credits: Detailed description of the credits being assigned, including amounts, dates, and reference numbers

2. Schedule 2 - Original Credit Agreement: Copy or details of the underlying credit agreement(s)

3. Schedule 3 - Form of Notice to Debtor: Template for notifying debtors of the assignment as required by Dutch law

4. Schedule 4 - Security Rights: Details of any security rights attached to the assigned credits

5. Schedule 5 - Completion Requirements: Checklist of actions required to complete the assignment

6. Appendix A - Power of Attorney: If required for executing additional documents or completing formalities

7. Appendix B - Related Agreements: Copies of any related agreements affecting the assigned credits

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions


































Clauses






























Relevant Industries

Banking & Financial Services

Asset Management

Investment Banking

Commercial Lending

Real Estate

Insurance

Private Equity

Debt Collection

Corporate Finance

Healthcare Finance

Equipment Leasing

Trade Finance

Relevant Teams

Legal

Finance

Treasury

Credit Management

Risk Management

Compliance

Corporate Development

Portfolio Management

Debt Collection

Transaction Management

Investment

Asset Management

Relevant Roles

Legal Counsel

Finance Director

Credit Manager

Portfolio Manager

Treasury Manager

Debt Collection Manager

Risk Manager

Compliance Officer

Corporate Lawyer

Transaction Manager

Chief Financial Officer

Investment Manager

Asset Manager

Contract Administrator

Legal Operations Manager

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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