The Loan Purchase Agreement is a crucial document used in financial transactions where loan portfolios are being transferred between parties in Austria. It is particularly relevant in scenarios involving bank deleveraging, portfolio optimization, or non-performing loan sales. The agreement must comply with Austrian legal requirements, including the Civil Code (ABGB), Banking Act (BWG), and data protection regulations. It typically includes detailed provisions on the loan portfolio's characteristics, purchase price mechanisms, transfer procedures, and relevant warranties. This document is essential for financial institutions, investment funds, and asset managers engaging in loan portfolio transactions in the Austrian market, whether for single loans or larger portfolio transfers.
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1. Parties: Identification of the Seller and Purchaser, including registration details as required under Austrian law
2. Background: Context of the transaction, description of the loan portfolio, and purpose of the agreement
3. Definitions and Interpretation: Defined terms, including specific Austrian legal concepts and interpretation rules
4. Sale and Purchase: Core transaction terms, purchase price, and completion mechanics
5. Conditions Precedent: Prerequisites for completion, including regulatory approvals and documentation requirements
6. Completion: Transfer mechanics, timing, and payment arrangements
7. Assignment and Transfer: Legal mechanisms for transferring the loans and related rights under Austrian law
8. Representations and Warranties: Seller's confirmations regarding the loans, security, and compliance with laws
9. Covenants: Ongoing obligations of the parties, including post-completion actions
10. Data Protection and Banking Secrecy: Compliance with GDPR and Austrian banking secrecy requirements
11. Notices: Communication procedures between parties
12. Governing Law and Jurisdiction: Austrian law provisions and jurisdiction arrangements
13. Miscellaneous: Standard boilerplate provisions adapted for Austrian law
1. Servicing Arrangements: Include when the purchaser requires the seller to continue servicing the loans post-transfer
2. Security Trust: Required when security interests are held on trust rather than directly
3. Consumer Protection Provisions: Necessary when the loan portfolio includes consumer loans
4. Regulatory Compliance: Specific section needed for regulated purchasers or sellers
5. True Sale Provisions: Include when securitization or true sale opinion is required
6. Post-Completion Arrangements: When ongoing obligations between parties exist after completion
7. Transfer Restrictions: Include when there are limitations on further transfers by the purchaser
1. Loan Portfolio Schedule: Detailed list of loans being transferred, including key terms and outstanding amounts
2. Security Documents: List of all security and related rights being transferred
3. Form of Transfer Documents: Template assignment agreements and notices required under Austrian law
4. Conditions Precedent Documents: Detailed list of required completion documents
5. Seller's Power of Attorney: Form of power of attorney for post-completion actions
6. Data Fields: Specification of loan data to be transferred
7. Representations and Warranties: Detailed warranties regarding the loan portfolio
8. Contact Details: Key contact information for both parties
9. Form of Notices: Template notices to borrowers and security providers
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Investment Management
Private Equity
Asset Management
Debt Collection
Special Situations
Credit Management
Financial Technology
Insurance
Real Estate Finance
Corporate Finance
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Credit Operations
Portfolio Management
Investment
Due Diligence
Structured Finance
Transaction Management
Loan Operations
Credit Analysis
Deal Advisory
Relevant Roles
Chief Financial Officer
Head of Treasury
Portfolio Manager
Credit Risk Manager
Legal Counsel
Compliance Officer
Investment Director
Debt Collection Manager
Transaction Manager
Portfolio Analyst
Due Diligence Officer
Structured Finance Manager
Banking Relationship Manager
Loan Operations Manager
Risk Assessment Officer
Financial Controller
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