The Loan Purchase Agreement is a critical document used in Australian financial markets to facilitate the transfer of loan portfolios between financial institutions. It is commonly employed in situations involving debt portfolio sales, bank asset disposals, securitization transactions, or strategic acquisitions of loan books. The agreement must comply with Australian regulatory requirements, including the National Consumer Credit Protection Act, Personal Property Securities Act, and Privacy Act. It typically includes detailed schedules specifying the loan portfolio characteristics, purchase price mechanisms, and completion requirements. This document is essential for financial institutions looking to manage their loan book exposure, optimize capital allocation, or execute strategic portfolio acquisitions, while ensuring all necessary regulatory and operational requirements are met under Australian law.
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1. Parties: Identifies the seller and purchaser of the loan portfolio, including their legal entity details and ABN/ACN
2. Background: Sets out the context of the transaction, including brief description of the loan portfolio and parties' intentions
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles
4. Sale and Purchase: Core transaction terms including agreement to sell and purchase the loan portfolio
5. Purchase Price and Payment: Details of the purchase price, calculation methodology, and payment terms
6. Completion: Requirements and procedures for completion of the transfer, including timing and deliverables
7. Seller's Representations and Warranties: Comprehensive warranties about the loan portfolio, seller's authority, and compliance with laws
8. Purchaser's Representations and Warranties: Warranties from the purchaser regarding authority, capacity, and regulatory compliance
9. Pre-Completion Obligations: Obligations of both parties between signing and completion, including conduct of business provisions
10. Transfer and Assignment: Mechanics for transferring the loans, security interests, and related rights
11. Notices and Communications: Process for formal communications between parties
12. Confidentiality: Obligations regarding confidential information and announcements
13. GST: Treatment of GST in relation to the transaction
14. General Provisions: Standard boilerplate provisions including governing law, amendments, and severability
1. Transitional Services: Include when the seller will provide temporary servicing or transition support post-completion
2. Regulatory Approvals: Include when specific regulatory approvals are required for the transaction
3. Security Trust: Include when security interests are held on trust and require specific trust arrangements
4. Customer Notification: Include when specific customer notification requirements need to be detailed
5. Data Protection: Include when transfer involves significant personal data handling requirements
6. Post-Completion Adjustments: Include when purchase price may be adjusted based on post-completion reconciliation
7. Servicing Arrangements: Include when ongoing loan servicing arrangements need to be detailed
8. Break Fees: Include when early termination or break fee provisions are required
1. Schedule 1 - Loan Portfolio Details: Detailed list and characteristics of loans being purchased
2. Schedule 2 - Purchase Price Calculation: Detailed methodology for calculating the purchase price
3. Schedule 3 - Completion Requirements: Checklist of documents and actions required for completion
4. Schedule 4 - Form of Transfer Documents: Pro forma transfer documentation for individual loans
5. Schedule 5 - Seller's Due Diligence Materials: List of due diligence materials provided by seller
6. Schedule 6 - Security Details: Details of security interests and PPSR registrations
7. Appendix A - Pro Forma Customer Notice: Template for notifying customers of the transfer
8. Appendix B - Data Tape Specifications: Technical specifications of the loan data provided
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Investment Management
Asset Management
Non-Bank Lending
Fintech
Mortgage Services
Consumer Finance
Corporate Finance
Debt Collection
Financial Technology
Relevant Teams
Legal
Finance
Risk Management
Compliance
Treasury
Operations
Credit Risk
Portfolio Management
Due Diligence
Regulatory Affairs
Deal Management
Transaction Services
Relevant Roles
Chief Financial Officer
Head of Legal
Portfolio Manager
Credit Risk Manager
Compliance Officer
Treasury Manager
Investment Director
Legal Counsel
Finance Director
Due Diligence Manager
Portfolio Analyst
Transaction Manager
Risk Officer
Operations Manager
Regulatory Compliance Manager
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