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Debt Purchase Agreement
I need a Debt Purchase Agreement for acquiring a portfolio of consumer credit card debts from a Danish bank, with completion planned for March 2025, that includes specific GDPR compliance provisions and consumer protection clauses.
1. Parties: Identification of the seller and purchaser of the debt, including full legal names and registration details
2. Background: Context of the transaction, including brief description of the debt portfolio and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core transaction terms, including description of debt being sold and purchased
5. Purchase Price: Details of the purchase price, payment terms, and any adjustments
6. Completion: Conditions precedent, completion mechanics, and timing
7. Representations and Warranties: Seller's and purchaser's representations regarding the debt and their capacity to enter into the agreement
8. Transfer and Assignment: Legal mechanics for transferring the debt and related rights
9. Data Protection: GDPR compliance provisions and data handling requirements
10. Confidentiality: Confidentiality obligations regarding the transaction and debtor information
11. Notices: Communication procedures between parties
12. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes
13. Execution: Signature blocks and execution requirements
1. Regulatory Compliance: Additional regulatory requirements if either party is a regulated entity
2. Servicing Arrangements: Include if there are ongoing servicing arrangements for the debt portfolio
3. True Sale Provisions: Detailed provisions ensuring true sale treatment, particularly important for regulated entities
4. Consumer Protection: Additional provisions if the debt portfolio includes consumer debt
5. Anti-Money Laundering: Specific AML provisions if required by the nature of the transaction or parties
6. Post-Completion Obligations: Any ongoing obligations after completion, such as information sharing or cooperation
7. Transfer of Security: Include if any security interests are being transferred with the debt
8. Tax Provisions: Specific tax-related provisions if there are significant tax implications
1. Debt Portfolio Schedule: Detailed list and description of all debts being purchased, including account details, outstanding amounts, and status
2. Form of Transfer Documents: Ƶ for any transfer documentation required to effect the sale
3. Completion Checklist: List of all documents and actions required for completion
4. Excluded Debts: List of any specifically excluded debts or categories of debt
5. Related Security: Details of any security interests associated with the debt
6. Required Notices: Forms of notices required to be sent to debtors or other parties
7. Data Fields: Specification of data fields and format for debt information transfer
8. Power of Attorney: Form of power of attorney if required for debt collection
Authors
Financial Services
Banking
Debt Collection
Investment Management
Credit Management
Insurance
Real Estate
Healthcare
Telecommunications
Utilities
Legal
Finance
Compliance
Risk Management
Credit Management
Portfolio Management
Investment
Operations
Due Diligence
Treasury
Debt Recovery
Transaction Management
Chief Financial Officer
Head of Debt Collection
Portfolio Manager
Legal Counsel
Compliance Officer
Risk Manager
Investment Director
Credit Manager
Transaction Manager
Due Diligence Specialist
Financial Controller
Portfolio Analyst
Debt Recovery Specialist
Senior Credit Officer
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