A Loan Sale Agreement is essential when financial institutions or other entities wish to transfer loan portfolios as part of their asset management strategy, regulatory compliance, or business restructuring. This document type is commonly used in New Zealand's financial markets for both individual loan sales and portfolio transactions. The agreement must comply with New Zealand's financial services regulations, including the Credit Contracts and Consumer Finance Act 2003, the Financial Markets Conduct Act 2013, and relevant privacy laws. It typically includes detailed provisions covering the sale mechanics, representations and warranties, price adjustments, and ongoing servicing arrangements. The document is crucial for maintaining clear records of ownership transfer and ensuring all regulatory requirements are met in the New Zealand context.
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1. Parties: Identification of the seller and purchaser of the loans, including full legal names and addresses
2. Background: Context of the transaction, including brief description of the loan portfolio and purpose of the agreement
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation
4. Sale and Purchase: Core transaction terms including the agreement to sell and purchase the loans
5. Purchase Price and Payment: Details of the purchase price, payment method, and timing
6. Completion: Requirements and process for completing the transaction, including conditions precedent
7. Representations and Warranties: Seller's and purchaser's representations regarding the loans and their authority to enter the transaction
8. Assignment and Transfer: Mechanics of transferring the loans and associated rights
9. Seller's Obligations: Ongoing obligations of the seller, including document delivery and cooperation requirements
10. Purchaser's Obligations: Ongoing obligations of the purchaser, including assumption of responsibilities
11. Confidentiality: Provisions regarding confidential information and its protection
12. Notices: Process and requirements for formal communications between parties
13. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, and amendments
1. Security Transfer: Required when loans are secured and security interests need to be transferred
2. Servicing Arrangements: Needed when the seller will continue to service the loans post-sale
3. Buy-Back Provisions: Include when the seller has the right or obligation to repurchase certain loans
4. Data Protection: Detailed section required when significant personal data is involved in the transfer
5. Third Party Consents: Required when specific third-party approvals are needed for the transfer
6. Tax Provisions: Detailed tax clauses needed for complex transactions or cross-border sales
7. Regulatory Compliance: Specific provisions required for regulated loans or parties
8. Post-Completion Adjustments: Include when purchase price adjustments may be needed after completion
1. Schedule 1 - Loan Portfolio Details: Detailed list and information about each loan being sold
2. Schedule 2 - Form of Transfer Documents: Ƶ for loan transfer documentation
3. Schedule 3 - Completion Requirements: Detailed checklist of completion deliverables and requirements
4. Schedule 4 - Seller's Warranties: Detailed warranties regarding the loan portfolio
5. Schedule 5 - Excluded Rights and Obligations: List of any rights or obligations not included in the sale
6. Schedule 6 - Power of Attorney: Form of power of attorney for executing transfer documents
7. Appendix A - Due Diligence Documents: List of documents provided during due diligence
8. Appendix B - Required Consents: List of required third-party and regulatory consents
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Investment Management
Private Equity
Asset Management
Real Estate Finance
Commercial Lending
Debt Trading
Corporate Finance
Fintech
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Loan Operations
Portfolio Management
Credit Administration
Due Diligence
Transaction Management
Corporate Banking
Investment Management
Asset Management
Relevant Roles
Chief Financial Officer
Legal Counsel
Finance Director
Portfolio Manager
Credit Risk Manager
Compliance Officer
Treasury Manager
Loan Operations Manager
Investment Director
Transaction Manager
Senior Corporate Lawyer
Banking Relationship Manager
Asset Manager
Due Diligence Officer
Financial Controller
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