DEED OF ASSIGNMENT THIRD PARTY.docx
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DEED OF ASSIGNMENT THIRD PARTY.docx
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DEEDOFASSIGNMENTTHIRDPARTY
THISASSIGNMENTismadeon200BETWEEN:
(1)______________________(NRIC/PassportNo_____________)and______________________(NRIC/PassportNo________________)of__________________________________(hereinaftercalledthe“Assignor”)oftheonepart;
(2)thesaid________________(NRIC/PassportNo._______________)(the"Borrower")of_____________________________;and
(3)HSBCPRIVATEBANK(SUISSE)SA,(CompanyRegistrationNo.F06018W),acompanyincorporatedinSwitzerlandandhavingaplaceofbusinessatNo.21CollyerQuay#14-01HSBCBuilding,Singapore049320(hereinaftercalledthe“Assignee”)oftheotherpart,
WHEREAS:
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TheAssignorandtheBorrowerhaveagreedtoexecutethisAssignmenttosecuretheBankingFacilities(asdefinedbelow)noworfromtimetotimehereaftermadeavailablebytheAssigneetotheAssignorand/ortheBorrower.
ITISAGREEDasfollows:
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1.INTERPRETATION
(A)Definitions:
InthisAssignment,excepttotheextentthatthecontextrequiresotherwise:
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“Act”meanstheConveyancingandLawofPropertyAct,(Chapter61);
“AssignedProperty”meansalltheassetsandpropertyoftheAssignorassignedunderorpursuanttoClause3(A);
“Assignor”includesthepersonalrepresentativesoftheAssignor(ifanindividual)andthesuccessorsandassignsoftheAssignor(ifacompany);
“Assignee”includesthesuccessorsoftheAssigneeandanypersontowhomthisAssignmentmaybeassignedortransferred;
“BankingFacilities”meansthegeneralbankingfacilitiesincludingbutnotlimitedtoadvances,revolvingcreditfacilities,loans,guaranteefacilitiesandtermfacilitieswhetherinSingaporeDollarsand/orinforeigncurrenciesandsuchothergeneralbankingandcreditfacilitiesorotheraccommodationmadeand/ortobemadeavailablebytheAssigneeto,orattherequestoftheAssignorand/ortheBorrower,uptosuchamountoramountsandtosuchextentastheAssigneemayfromtimetotimeagreeorallow;
“Borrower”includesthepersonalrepresentativesoftheBorrower(ifanindividual)andthesuccessorsandassignsoftheBorrower(ifacompany);
“CostofFunds”meansthecosttotheAssignee(ascertifiedbyitfromtimetotimeandexpressedasarateperannum)offundingfromtimetotimeallsuchmoneyssopaidorincurredbytheAssignee(including,withoutlimitation,thecosttotheAssigneeoccasionedbyorattributabletocomplyingwithreserves,liquidityorotherrequirementsimposedontheAssigneebyanyrelevantauthorityorauthorities);
“Developers”means__________________________,acompanyincorporatedintheRepublicofSingaporedulylicensedundertheHousingDevelopers(ControlandLicensing)Act(Chapter130)(LicenceNo________)andhavingitsregisteredofficeat____________________________________;
“EventofDefault”meansanyoftheeventsspecifiedinClause4
(1)oftheMemorandumofMortgagenumberedasMMl/88264PlodgedwiththeSingaporeLandAuthority(whichhasbeenincorporatedintotheMortgage(asdefinedbelow));
“FacilityDocuments”meansanyoralloftheAssignee’sfacilityletters,theAssignee’sstandardformdocumentsexecutedbytheAssignorand/ortheBorrowerunderorinconnectionwiththeBankingFacilitiesoranypartthereof,andanyotherdocumentoragreementunderorpursuanttowhichanymoneysorliabilitieswhatsoevermay,atanytime(noworhereafter),bedue,owingorpayablebytheAssignorand/ortheBorrowertotheAssignee,whetheractuallyorcontingently,solelyorjointlyorjointlyand/orseverallywithanotherorothersorasprincipalorassuretyorotherwise,underorinconnectionwiththeBankingFacilitiesoranypartthereof,andwheredocumentsareexecutedtoguaranteeorsecuretheobligationsoftheAssignorand/ortheBorrowerunderorinconnectionwiththeBankingFacilities,theterm“FacilityDocuments”shallincludeallsuchdocumentsfromtimetotimeexecutedtoguaranteeorsecuretheobligationsoftheAssignorand/ortheBorrowerunderorinconnectionwiththeBankingFacilities(andanyreferencetoaFacilityDocumentshallbeareferencetothatFacilityDocumentasfromtimetotimeamended,modifiedorsupplemented);
“Mortgage”meansamortgageoverthePropertyinsuchformasmaybeapprovedbytheAssignee;
“PrincipalAgreement”meanstheAgreementforSaledatedthe______dayof________________________madebetweentheDevelopersoftheonepartandtheAssignoroftheotherpart,wherebytheDevelopersagreedtosellandtheAssignoragreedtopurchasethePropertyandallreferencesto“PrincipalAgreement”shallbedeemedtoincludereferencestothePrincipalAgreementasfromtimetotimeamended,modifiedorsupplemented;
“Property”meansthepropertydescribedintheSchedule;
“SecuredDebt”means(a)allsums(whetherprincipal,interest,fee,commissionorotherwise)whichareoratanytimemaybeorbecomeduefromorowingbytheAssignorand/ortheBorrowertotheAssignee,orwhichtheAssignorand/ortheBorrowerhascovenantedtopayordischarge,whetheractuallyorcontingently,underorinconnectionwithanyoftheFacilityDocumentsand/orthisAssignmentandtheMortgageand(b)allotherliabilitiesandmoneys(whetherprincipal,interest,fee,commissionorotherwise)whichnowareoratanytimehereaftermaybecomeduefromorowingby,orbeincurredbytheAssignorand/ortheBorrowertotheAssignee,inwhatevercurrencythesameshallbedenominatedorowing,whetheraloneorjointlyorjointlywithanyotherpersonandonanyaccountwhatsoever,whethercurrentorotherwise,andwhetherpresent,future,actualorcontingent,andwhetherasprincipaldebtor,guarantor,suretyorotherwisehowsoever,including(withoutlimitation)interestandallliabilitiesinconnectionwithforeignexchangetransactions,paying,accepting,endorsingordiscountinganycheques,notesorbills,orunderbonds,guarantees,indemnities,documentaryorothercreditsoranyinstrumentswhatsoeverfromtimetotimeenteredintobytheAssignee,fororattherequestoftheAssignorand/ortheBorrower;
“SecurityParty”meansanyperson(otherthantheAssignor,theBorrowerortheAssignee)whoisapartytoanyoftheFacilityDocuments;
“SingaporeDollar(s)”and“S$”meanthelawfulcurrencyofSingapore;
“TitleDocument”meanstheSubsidiaryStrataCertificateofTitleorotherdocumentoftitlerelatingtotheProperty;and
“Transfer”meanstheInstrumentofTransferrelatingtothePropertytobeexecutedbytheDevelopersinfavouroftheAssignor.
(B)Mortgage:
AlltermsandreferencesusedinthisAssignmentandwhicharedefinedorconstruedintheMortgagebutarenotdefinedorconstruedinthisAssignmentshallhavethesamemeaningandconstructioninthisAssignment.AllreferencesinthisAssignmenttotheMortgagearereferencestotheMortgageasamended,modifiedorsupplementedfromtimetotime.
(C)ThisAssignment:
Excepttotheextentthatthecontextotherwiserequires,anyreferenceto“thisAssignment”includesthisAssignmentasfromtimetotimeamended,modifiedorsupplementedandanydocumentwhichissupplementalheretoorwhichisexpressedtobecollateralherewithorwhichisenteredintopursuanttoorinaccordancewiththetermshereof.
(D)HeadingsandClauses:
TheheadingsinthisAssignmentareinsertedforconvenienceonlyandshallbeignoredinconstruingthisAssignment.Unlessthecontextotherwiserequires,wordsdenotingthesingularnumberonlyshallincludethepluralandviceversaandwordsimportingthemasculinegendershallincludethefeminineandneutergender.Referencestothe“Appendix”,“Clauses”andthe“Schedule”aretobeconstruedasreferencestotheappendixto,clausesof,andthescheduleto,thisAssignment.
(E)Assignor’sObligations:
WheremorethanonepersonconstitutestheAssignor,allcovenants,terms,warranties,undertakings,representations,stipulationsandotherprovisionshereinexpressedtobemadebytheAssignorshallbedeemedtobemadeby,andshallbebinding,onthemjointlyandseverally.
(F)Borrower'sObligations:
WheremorethanonepersonconstitutestheBorrower,allcovenants,terms,warranties,undertakings,representations,stipulationsandotherprovisionshereinexpressedtobemadebytheBorrowershallbedeemedtobemadeby,andshallbebinding,onthemjointlyandseverally.
(G)ReferencestoAssignor:
WheremorethanonepersonconstitutestheAssignor,allreferenceshereinto“theAssignor”shallwherethecontextsoadmits,includereferencestoanyorallofthem.
(H)ReferencestoBorrower:
WheremorethanonepersonconstitutestheBorrower,allreferenceshereinto“theBorrower”shallwherethecontextsoadmits,includereferencestoanyorallofthem.
2.COVENANTTOPAY
InconsiderationoftheAssigneegrantingoragreeingtograntforthebenefitoftheAssignorand/ortheBorrower,theBankingFacilities,theAssignorandtheBorrowerherebycovenantwiththeAssignee:
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(i)topayanddischargeupondemand(inrespectoftheBankingFacilitieswhichareexpressedtobepayableondemand)orontheduedatethereof,allmoneys,obligationsandliabilitieswhatsoeverwhichnowareoratanytimehereafter(whetheronorafteranysuchdemandorotherwise)maybeduefromorowingorpayableby,ortobeincurredby,theAssignorand/ortheBorrowertotheAssignee,inwhatevercurrencythesameshallbedenominatedorowingwhetheraloneorjointlyorjointlywithanyotherpersonandonanyaccountwhatsoever,whethercurrentorotherwise,andwhetherpresent,future,actualorcontingentandwhetherasprincipaldebtor,guarantor,suretyorotherwisehowsoeverorinanymannerwhatsoeverandallotherliabilities,whethercertainorcontingent,wh
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