Notice of assignment of contractual rights and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies
Notice of assignment of contractual rights and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies

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

  • Notice of assignment of contractual rights and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies

Notice of assignment

[To be printed on the headed notepaper of the assignor]

To: [insert name and address of the relevant contract counterparty]

Date: []

Dear [insert organisation name],

[insert brief description of the relevant assigned contract]

    1. 1

      We refer to the assignment of contractual rights (the ‘Assignment’) dated [] and granted by us as assignor (the ‘Assignor’) in favour of [insert name of lender] (the ‘Lender’).

    1. 2

      We refer to the contract relating to [insert description of relevant contract] dated [] and entered into between us as [] and you, [insert name of relevant counterparty], as [] (as amended, novated, supplemented, restated or replaced from time to time) (the ‘Contract’).

    1. 3

      We give you notice that pursuant to the terms of the Assignment, we have assigned to the Lender by way of security all of our rights, title and interest from time to time in, and the full benefit of, the Contract and all rights, title and interest in any amounts payable to us under the Contract, including any claims for damages in respect of any breach of the Contract.

    1. 4

      [With effect from the date of receipt of this notice OR Upon receiving a written notice from the Lender that an ‘Event of Default’ (as defined or incorporated by reference in the Assignment) has occurred [which is continuing]]:

      1. 4.1

        you shall treat the Lender as entitled to exercise all rights exercisable

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