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Facility Transfer Agreement for Australia

Facility Transfer Agreement Template for Australia

This document governs the transfer of rights, obligations, and interests in a facility from one provider to another under Australian law. It comprehensively addresses the mechanics of the transfer, including consideration, regulatory compliance requirements, and relevant security interests. The agreement ensures compliance with Australian banking and financial services regulations, including the Banking Act 1959 (Cth) and the National Consumer Credit Protection Act 2009 (Cth). It includes provisions for necessary regulatory approvals, privacy compliance, and state-specific requirements for facility transfers.

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What is a Facility Transfer Agreement?

A Facility Transfer Agreement is essential when transferring credit facilities, loans, or similar financial arrangements between financial institutions in Australia. This document type is commonly used in scenarios such as bank portfolio sales, strategic realignments, or regulatory-driven transfers. The agreement must comply with Australian banking regulations, financial services laws, and state-specific requirements. It typically includes detailed provisions about the transfer mechanics, security arrangements, regulatory approvals, and completion requirements. The document becomes particularly important in complex transactions involving multiple facilities or syndicated arrangements, where careful attention must be paid to existing facility documents, security interests, and third-party rights.

What sections should be included in a Facility Transfer Agreement?

1. Parties: Identifies and defines the transferor, transferee, and any other relevant parties to the agreement

2. Background: Outlines the context of the transfer, including details of the original facility and reason for transfer

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles for the agreement

4. Transfer and Assignment: Core provisions detailing the transfer of rights, obligations, and interests in the facility

5. Consideration: Specifies the purchase price or other consideration for the transfer

6. Completion: Details the completion process, timing, and requirements for the transfer

7. Representations and Warranties: Standard representations and warranties from both transferor and transferee

8. Regulatory Compliance: Addresses compliance with relevant banking and financial services regulations

9. Confidentiality: Provisions regarding the confidentiality of information and data protection requirements

10. Notices: Specifies how formal notices under the agreement should be given

11. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, and entire agreement

12. Execution: Formal execution blocks for all parties

What sections are optional to include in a Facility Transfer Agreement?

1. Security Transfer: Required when security interests are being transferred along with the facility

2. Third Party Consents: Include when specific third-party approvals are needed for the transfer

3. Tax Provisions: Detailed tax implications and allocations when significant tax considerations exist

4. Transitional Services: Include when ongoing support or services are required post-transfer

5. Foreign Exchange Provisions: Required for facilities involving multiple currencies

6. Step-In Rights: Include when specific intervention rights need to be preserved or transferred

7. PPSA Provisions: Detailed Personal Property Securities Act provisions when relevant to the facility

8. Break Fees: Include when early termination or break fee provisions are part of the transfer

What schedules should be included in a Facility Transfer Agreement?

1. Facility Details: Detailed description of the facility being transferred, including all relevant terms and conditions

2. Transfer Price Calculation: Detailed breakdown of the transfer price and any adjustments

3. Security Details: List and details of all security interests being transferred

4. Required Consents: List of required third-party consents and their status

5. Completion Checklist: Detailed list of actions required for completion

6. Form of Transfer Notices: Template notices required to effect the transfer

7. Outstanding Claims and Proceedings: Details of any ongoing claims or proceedings related to the facility

8. Required Regulatory Approvals: List of regulatory approvals required and their status

Authors

Alex Denne

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

Jurisdiction

Australia

Publisher

Ƶ

Document Type

Transfer Agreement

Sector

Cost

Free to use
Relevant legal definitions
















































Clauses




































Relevant Industries

Banking

Financial Services

Commercial Real Estate

Infrastructure

Project Finance

Mining and Resources

Energy

Agriculture

Manufacturing

Healthcare

Education

Telecommunications

Relevant Teams

Legal

Compliance

Credit

Risk Management

Treasury

Finance

Portfolio Management

Transaction Management

Documentation

Relationship Management

Operations

Due Diligence

Regulatory Affairs

Relevant Roles

Legal Counsel

Banking and Finance Lawyer

Compliance Officer

Credit Manager

Portfolio Manager

Transaction Manager

Risk Manager

Chief Financial Officer

Treasury Manager

Relationship Manager

Facility Agent

Security Trustee

Company Secretary

Due Diligence Officer

Financial Controller

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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