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Deed Of Assignment Loan Agreement Template for Philippines

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Key Requirements PROMPT example:

Deed Of Assignment Loan Agreement

"I need a Deed of Assignment Loan Agreement under Philippine law for transferring a secured corporate loan worth PHP 50 million from ABC Bank to XYZ Investment Corporation, with the assignment to take effect on March 15, 2025, including provisions for existing collateral transfer."

Document background
The Deed of Assignment Loan Agreement is a crucial document in Philippine banking and finance practice, used when there is a need to transfer loan rights from one party to another. This might occur in various scenarios such as bank portfolio sales, debt trading, or corporate restructuring. The document must comply with the Civil Code of the Philippines, the Truth in Lending Act, and other relevant banking regulations. It typically includes detailed information about the original loan, the parties involved, the terms of assignment, and any security interests being transferred. This type of agreement is particularly important in the secondary loan market and must be properly executed and notarized to be legally effective in the Philippines.
Suggested Sections

1. Parties: Identifies and defines the Assignor (original lender), Assignee (new lender), and Borrower

2. Background: Recitals explaining the original loan agreement and the intention to assign the loan

3. Definitions: Defines key terms used throughout the agreement

4. Assignment: Core clause detailing the assignment of rights and obligations from Assignor to Assignee

5. Consideration: States the amount paid by the Assignee to the Assignor for the assignment

6. Representations and Warranties: Assignor's warranties about the loan, its status, and authority to assign

7. Effective Date: Specifies when the assignment takes effect

8. Notice to Borrower: Requirements for notifying the Borrower of the assignment

9. Payment Instructions: Details of how future payments should be made to the Assignee

10. Further Assurance: Obligations to execute additional documents if needed

11. Governing Law and Jurisdiction: Confirms Philippine law governs and specifies jurisdiction for disputes

Optional Sections

1. Security Assignment: Include when there is collateral or security interests being transferred with the loan

2. Guarantor Provisions: Required when the original loan has guarantors who need to consent to the assignment

3. Tax Provisions: Include detailed tax clauses when assignment has significant tax implications

4. Regulatory Compliance: Additional section when assignment requires specific regulatory approvals

5. Electronic Execution: Include when agreement will be executed electronically under E-Commerce Act

6. Partial Assignment: Include when only part of the loan is being assigned

7. Conditions Precedent: Include when assignment is subject to fulfillment of specific conditions

Suggested Schedules

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

2. Schedule 2 - Loan Details: Current loan balance, payment history, and other relevant loan information

3. Schedule 3 - Payment Details: New payment instructions and bank account details for the Assignee

4. Schedule 4 - Form of Notice to Borrower: Template of formal notice to be sent to Borrower regarding assignment

5. Schedule 5 - Security Documents: List and copies of any security documents related to the loan

6. Appendix A - Consent Forms: Required consent forms from Borrower, Guarantors, or other parties

7. Appendix B - Regulatory Approvals: Copies of any required regulatory approvals or filings

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

Relevant legal definitions
Clauses






























Relevant Industries

Banking

Financial Services

Investment Management

Real Estate

Corporate Finance

Asset Management

Debt Collection

Commercial Lending

Private Equity

Insurance

Relevant Teams

Legal

Finance

Credit Administration

Risk Management

Compliance

Treasury

Loan Operations

Portfolio Management

Corporate Banking

Documentation

Investment

Debt Recovery

Relevant Roles

Legal Counsel

Finance Manager

Credit Officer

Loan Officer

Portfolio Manager

Risk Manager

Compliance Officer

Banking Officer

Treasury Manager

Chief Financial Officer

Contract Administrator

Debt Collection Manager

Investment Analyst

Corporate Secretary

Legal 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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