- [________________________] (the “New Investor”)
- [________________________] (the “Transferring Investor”); and
- [________________________] (the “Borrower”)
- Funding Circle Loan Transaction Reference Number:
- Funding Circle Loan Part ID:
We refer to the loan contract for the Loan Part identified by the above Loan Part ID (the “Loan Contract”) and, in particular, clause 6 of that Loan Contract. Capitalised terms used in this agreement shall have the same meaning as in the Loan Contract and this novation agreement shall take effect as a Transfer Certificate for the purpose of the Loan Contract.
With effect from the date of this agreement, and in consideration of the mutual obligations and undertakings between the parties to this agreement:
- the Transferring Investor novates and transfers to the New Investor all of its rights and obligations under the Loan Contract pursuant to Clause 6 of the Loan Contract;
- all references to the Investor in the Loan Contract shall be construed as references to the New Investor;
- the New Investor agrees to be bound by the terms of the Loan Contract as if it were the original Investor to the Loan Contract in place of the Transferring Investor;
- the Borrower consents to the novation and transfer as set out in this agreement and shall be bound by the terms of the Loan Contract as if the New Investor was the original Investor to the Loan Contract in place of the Transferring Investor.
- the Borrower and the Transferring Investor each agrees to release and discharge the other from their respective future obligations and liabilities under the Loan Contract on the basis that the New Investor assumes the future obligations and liabilities of the Transferring Investor under the Loan Contract.
This agreement and any non-contractual obligations arising out of or in connection with it are governed by, and construed in accordance with, English law.
This agreement is entered into by electronic means in accordance with the Loan Contract and the applicable Funding Circle Terms and Conditions. This will have the same effect as if the agreement was signed in a hard single copy by each party.