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1. Parties: Identifies and defines the creditor and debtor with their complete legal names, addresses, and any registration details if companies
2. Background: Describes the original debt agreement, its date, amount, and current outstanding balance
3. Definitions: Defines key terms used throughout the agreement including 'Debt', 'Original Agreement', 'Effective Date', etc.
4. Acknowledgment of Debt: Confirms the current outstanding amount and validity of the original debt
5. Cancellation Terms: Specifies the terms and conditions of the debt cancellation, including any partial payments if applicable
6. Release and Discharge: Details the mutual release of obligations and claims related to the debt
7. Representations and Warranties: Statements by both parties confirming their authority to enter into the agreement and the accuracy of information provided
8. Governing Law: Specifies that Indian law governs the agreement and defines jurisdiction for disputes
9. Entire Agreement: Confirms this agreement supersedes all previous agreements regarding the debt cancellation
1. Partial Payment Terms: Required when debt cancellation involves some payment rather than complete forgiveness
2. Security Release: Needed when original debt was secured by assets or guarantees that need to be released
3. Tax Implications: Include when there are specific tax consequences that need to be addressed
4. Confidentiality: Required when parties wish to keep the cancellation terms private
5. Regulatory Compliance: Necessary when either party is regulated entity or transaction requires regulatory approval
6. Future Business Relations: Include when parties wish to address their future business relationship post-cancellation
1. Schedule 1 - Original Debt Details: Details of the original debt agreement including date, amount, interest rates, and payment history
2. Schedule 2 - Security Details: List of any securities, guarantees, or collateral to be released
3. Schedule 3 - Payment Schedule: If partial payment is involved, details of payment amounts and dates
4. Appendix A - Required Documents: List of documents to be executed for completing the cancellation process
5. Appendix B - Regulatory Approvals: Copies of any required regulatory approvals or compliance certificates
Banking & Financial Services
Real Estate
Manufacturing
Retail
Healthcare
Information Technology
Construction
Education
Professional Services
Agriculture
Infrastructure
Mining & Resources
Legal
Finance
Treasury
Credit Control
Risk Management
Compliance
Corporate Secretarial
Tax
Debt Recovery
Business Development
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Financial Controller
Credit Manager
Debt Recovery Officer
Risk Manager
Company Secretary
Treasury Manager
Accounts Manager
Compliance Officer
Managing Director
Business Development Manager
Restructuring Specialist
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