Promissory Note Template Page 27
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28PLEASE NOTE THAT ITEMS HIGHLIGHTED IN YELLOW MAY BE VARIABLE BETWEEN
PROMISSORY NOTES, DEPENDING ON THE COMMERCIAL TERMS SET OUT
SCHEDULE 5
FORM OF ASSIGNMENT AGREEMENT
THIS ASSIGNMENT AGREEMENT is made on Nth day of Month 2016
BETWEEN
[INSERT LENDER NAME] with Unique ID [INSERT ID]; (the “Existing Lender”); and
1.
[INSERT LENDER NAME] with Unique ID [INSERT ID]; (the “New Lender”)
2.
WHEREAS:
A.
By a Promissory Note [insert Facility Request ID] dated [insert date of Note] issued by [insert
Borrower’s name] (“Promissory Note”), the Borrower has promised to pay to or to the order of
the Existing Lender, in Singapore dollars, the Principal and Interest on such Repayment Date
as specified in said Promissory Note, in accordance with the Note (as defined in the Standard
Terms and Conditions to Promissory Note).
B.
The Existing Lender has requested to assign and the New Lender has agreed to assume its
rights in respect of the Promissory Note.
IT IS AGREED as follows:
1.
All capitalised terms used but not defined in this Assignment Agreement have the meanings
assigned to them in the Promissory Note.
2.
In consideration of the sum of S$ [insert amount] paid by the New Lender to the Existing Lender
as of the date hereof, the receipt of which is acknowledged, and subject to the terms and
conditions of the Note and this Assignment Agreement, the Existing Lender and the New
Lender agree to the Existing Lender transferring to the New Lender by assignment its absolute
rights under the Promissory Note pursuant to Clause 28 and Clause 29 as of the date of this
Assignment Agreement.
3.
The registered address and attention details for notices of the New Lender are as set out
below:-
<…>
New Lender
<…>
UEN:
<…>
Registered Address:
<…>
Contact Information:
4.
This Assignment Agreement may be executed in any number of counterparts and this has the
same effect as if the signatures on the counterparts were on a single copy of this Assignment
Agreement.
5.
This Assignment Agreement is governed by Singapore law.
Page 27 of 28
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