Agreement of Transfer

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Agreement of Transfer

Agreement of Transfer

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

AGREEMENT OF TRANSFER

This Agreement of Transfer ('Agreement') is made and entered into on this {{date_of_agreement}}

BETWEEN:

1. {{current_lender_name}} of {{current_lender_address}} (hereinafter referred to as the 'Current Lender');

AND

2. {{new_lender_name}} of {{new_lender_address}} (hereinafter referred to as the 'New Lender');

AND

3. {{borrower_name}} of {{borrower_address}} (hereinafter referred to as the 'Borrower').

Collectively referred to as the 'Parties'.

RECITALS

WHEREAS, the Current Lender and the Borrower entered into a Loan Agreement dated {{original_loan_agreement_date}} (hereinafter referred to as the 'Original Loan Agreement'), in terms of which the Current Lender advanced a loan of {{loan_amount}} ({{loan_amount_words}}) to the Borrower.

WHEREAS, the Current Lender desires to transfer all its rights, title, and interest in and to the Original Loan Agreement to the New Lender.

WHEREAS, the New Lender desires to acquire all the rights, title, and interest in and to the Original Loan Agreement from the Current Lender.

WHEREAS, the Borrower hereby consents to the transfer of the Original Loan Agreement from the Current Lender to the New Lender.

AGREEMENT TO TRANSFER

The Current Lender hereby transfers, assigns, and cedes to the New Lender all its rights, title, interest, and obligations under the Original Loan Agreement, including but not limited to the principal amount of {{outstanding_principal_amount}}, accrued interest, and any other charges or fees outstanding as at the Effective Date.

The New Lender hereby accepts the transfer, assignment, and cession of all rights, title, interest, and obligations under the Original Loan Agreement from the Current Lender and agrees to be bound by the terms and conditions thereof.

NOTICES

The Current Lender shall provide written notice to the Borrower of the transfer within {{number_of_days_notice}} days of the Effective Date, if not already provided within this agreement.

All future payments and communications pertaining to the loan shall be directed to the New Lender at {{new_lender_payment_address}}.

ACKNOWLEDGEMENT BY BORROWER

The Borrower hereby acknowledges and consents to the transfer of the Original Loan Agreement from the Current Lender to the New Lender, effective from the date of this Agreement.

The Borrower agrees that from the Effective Date, all obligations, duties, and liabilities previously owed to the Current Lender under the Original Loan Agreement shall henceforth be owed to the New Lender.

REPRESENTATIONS AND WARRANTIES

The Current Lender represents and warrants that it has the full right, power, and authority to transfer the Original Loan Agreement and that the loan is free from any encumbrances, claims, or disputes, save for those disclosed in writing to the New Lender.

The New Lender represents and warrants that it has the full right, power, and authority to accept the transfer of the Original Loan Agreement and to perform all obligations hereunder.

INDEMNIFICATION

The Current Lender hereby indemnifies and holds harmless the New Lender against any and all claims, demands, losses, liabilities, costs, and expenses (including reasonable legal fees) arising from or in connection with any breach of its representations or warranties under this Agreement.

The New Lender hereby indemnifies and holds harmless the Current Lender against any and all claims, demands, losses, liabilities, costs, and expenses (including reasonable legal fees) arising from or in connection with its performance or non-performance of obligations after the Effective Date.

GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of {{jurisdiction_for_disputes}}.

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

No amendment or modification of this Agreement shall be valid unless in writing and signed by all Parties hereto.

SIGNATURES

IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first above written.

___________________________

Current Lender Name: {{current_lender_name}}

Capacity: {{current_lender_capacity}}

___________________________

New Lender Name: {{new_lender_name}}

Capacity: {{new_lender_capacity}}

___________________________

Borrower Name: {{borrower_name}}

Capacity: {{borrower_capacity}}

WITNESSES:

1. ___________________________

Name: {{witness_1_name}}

ID No: {{witness_1_id_number}}

2. ___________________________

Name: {{witness_2_name}}

ID No: {{witness_2_id_number}}