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This is a Precedent Notice of Assignment which can be used to give notice of an assignment of contractual rights by way of security from an assignor to its contract counterparty.

This drafting note explains the context in which this Precedent Notice of Assignment might be used as well as the features of this Precedent Notice of Assignment and the assumptions on which it is based.

For information on taking security over contractual rights, see Practice Note: Ireland—Assignments by way of security.

Parties to this Precedent Notice of Assignment

This Precedent Notice of Assignment is designed for use in bilateral transactions (ie where there is only one lender) as opposed to syndicated transactions (ie where there is more than one lender). It has been drafted as being:

1. •

   from a single security provider (defined as the ‘Assignor’)

2. •

   to its contract counterparty

and refers to an assignment of contractual rights between the Assignor and a single lender (defined as the ‘Lender’).

Perfecting security

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