Deed of assignment: for an unsecured bilateral facility agreement
Deed of assignment: for an unsecured bilateral facility agreement

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Deed of assignment: for an unsecured bilateral facility agreement
  • Parties
  • Background
  • EXECUTION PAGE
  • Schedule 1Loan Details
  • Schedule 2Form of Notice of Assignment and Acknowledgement
  • Part A: Form of Notice of Assignment
  • Part B: Form of Acknowledgment of Notice of Assignment

This Deed is made on [insert day and month] 20[insert year]

Parties

  1. 1

    [insert name of Assignor], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Assignor); and

  1. 2

    [insert name of Assignee], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Assignee).

Background

    1. (A)

      The Assignor made available a loan facility to the Borrower (as defined below) on the terms and conditions set out in the Facility Agreement (as defined below).

    2. (B)

      The Assignee has agreed to purchase from the Assignor all of the Assignor's rights, title, benefit and interest in and under the Facility Agreement in accordance with the terms of this Deed.

    3. (C)

      [[insert further details if required]]

It is agreed as follows:

  1. 1

    Definitions and interpretation

    1. 1.1

      Definitions

    2. In this Deed, unless otherwise provided:

      Assigned Assets

      1. means all the rights, title, benefit and interest of the Assignor in and under the Facility Agreement, including all the Assignor’s rights, title, benefit and interest in and to the Assigned Loan;

      Assigned Loan

      1. means £[insert amount] (being