Assignment of Debt as Security - Interest Permitted

for Your State

This Assignment of Debt as Security is between an assignor who agrees to assign a lender a debt as collateral for another loan. This assignment includes a provision which sets out the interest to be paid.

For Immediate Download

$19.95 Add to Cart
Free eSignature included
with every order
Please select a state

File types included

  • Microsoft Word
  • Adobe PDF
  • WordPerfect
  • Rich Text Format

Compatible with

  • Windows
  • Mac OS X
  • Linux

For Immediate Download

$19.95 Add to Cart
Free eSignature included
with every order
Please select a state

Attorney prepared

Our forms are kept up-to-date and accurate by our lawyers

Unlike other sites, every document on FindLegalForms.com is prepared by an attorney, so you can be sure that you are getting a form that is accurate and valid in your state.

Valid in your state

Our forms are guaranteed
to be valid in your state

Our team works tirelessly to keep our products current. As the laws change in your state, so do our forms.

Over 3,500,000
satisfied customers

In over 10 years of creating and selling legal forms, our focus has never changed: providing our customers high quality legal products, low prices and an experience that takes some confusion out of the law.

Free eSignature

Sign your form online, free with any form purchase

We now provide a free Electronic Signature Service to all of our visitors. There are no hidden charges or subscription fees, it's just plain free.

60-Days Money Back

Try our forms with no risk

If you are unhappy with your form purchase for any reason at all, contact us within 60 days and we will refund 100% of your money back.
This Assignment of Debt as Security with Interest is between an assignor who agrees to assign a lender the debt as collateral for another loan. This assignment sets out the specific terms including the amount of both the debt, amount of new loan and that interest will be paid. It is vital that this type of assignment be clearly set out in writing. A written Assignment of Debt as Security (With Interest) will prove valuable if there are disagreements or misunderstandings between the parties.

This Authorization of Debt as Security (With Interest) contains:
  • Parties: Sets out the names of the assignor, lender and the borrower;
  • Assignment: Sets forth the amount of debt owed by borrower to assignor and that assignor agrees to assign lender the debt as collateral security, with a certain rate of interest;
  • Signature: This authorization must be signed by all parties in front of witnesses.

Protect yourself and your rights by using our attorney-prepared forms.

This attorney-prepared packet contains:
  1. General Instructions
  2. Assignment of Debt as Security (With Interest)
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Assignment of Debt as Security
(Interest Payments Permitted)

 

 

THIS ASSIGNMENT dated [Date (ie. July 31, 2002)]
BETWEEN:
[NAME OF ASSIGNOR]
(the "Assignor")
-and-
[NAME OF LENDER]
(the "Lender")
-and-
[NAME OF BORROWER]
(the "Borrower")
WHEREAS:
(A)   The Borrower is indebted to the Assignor in the sum of $[Amount of Debt (ie. $25,000)] (the "Debt");
(B)   The Assignor has agreed to assign to the Lender the Debt as collateral security for the payment by the Borrower to the Lender of a loan in the amount of $[Amount of Loan from Lender to Assignor] (the "Loan") made or to be made by the Lender to the Borrower; and
(C)   it is and was a condition of the making of the Loan that the Debt be so assigned;
NOW THEREFORE in consideration of the Lender making the Loan or any part thereof to the Borrower and in consideration of the recitals, the mutual covenants hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:
1.   The Assignor hereby assigns, transfers and sets over unto the Lender, as collateral security for the payment of the Loan, the Debt together with all advantage and benefit to be derived therefrom, with the exception that so long as the Borrower is not in default under the terms of the Loan, the Assignor is entitled to demand from and to receive from the Borrower interest on the Debt at a rate not exceeding [Interest Rate on Debt (ie. 7.0%)]% per annum.
2.   The Borrower and Assignor hereby jointly and severally acknowledge, covenant and agree each with the other and respectively with the Lender that the Debt is justly and truly owing by the Borrower to the Assignor.
3.   The Assignor covenants and agrees with the Lender that at the request of the Lender, the Assignor shall assign to the Lender all its or his right, title and interest in any security in respect of the Debt assigned by this Assignment, and the same shall be deemed security granted by the Assignor to the Lender.
4.   The Borrower takes notice of this Assignment and covenants and agrees with the Lender that, so long as any moneys are owing to the Lender under the Loan, it will not make any payment whatsoever to the Assignor on the Debt, other than interest thereon as set forth in paragraph 1 above.
5.   The Assignor acknowledges and agrees that all its or his rights in respect of the Debt have been assigned to the Lender but that the acceptance by the Lender of this Assignment shall not impose upon the Lender any obligation to take any steps to effect the collection of same or to ensure that the Debt does not become statute barred by the operation of any law relating to limitation of actions, or otherwise.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first above written.
 
 
 
 
Witness
 
[NAME OF ASSIGNOR]
 
 
 
 
Witness
 
[NAME OF LENDER]
 
 
 
 
Witness
 
[NAME OF BORROWER]
 
Number of Pages4
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28605
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Assignment of Debt as Security
(Interest Payments Permitted)

 

 

THIS ASSIGNMENT dated [Date (ie. July 31, 2002)]
BETWEEN:
[NAME OF ASSIGNOR]
(the "Assignor")
-and-
[NAME OF LENDER]
(the "Lender")
-and-
[NAME OF BORROWER]
(the "Borrower")
WHEREAS:
(A)   The Borrower is indebted to the Assignor in the sum of $[Amount of Debt (ie. $25,000)] (the "Debt");
(B)   The Assignor has agreed to assign to the Lender the Debt as collateral security for the payment by the Borrower to the Lender of a loan in the amount of $[Amount of Loan from Lender to Assignor] (the "Loan") made or to be made by the Lender to the Borrower; and
(C)   it is and was a condition of the making of the Loan that the Debt be so assigned;
NOW THEREFORE in consideration of the Lender making the Loan or any part thereof to the Borrower and in consideration of the recitals, the mutual covenants hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:
1.   The Assignor hereby assigns, transfers and sets over unto the Lender, as collateral security for the payment of the Loan, the Debt together with all advantage and benefit to be derived therefrom, with the exception that so long as the Borrower is not in default under the terms of the Loan, the Assignor is entitled to demand from and to receive from the Borrower interest on the Debt at a rate not exceeding [Interest Rate on Debt (ie. 7.0%)]% per annum.
2.   The Borrower and Assignor hereby jointly and severally acknowledge, covenant and agree each with the other and respectively with the Lender that the Debt is justly and truly owing by the Borrower to the Assignor.
3.   The Assignor covenants and agrees with the Lender that at the request of the Lender, the Assignor shall assign to the Lender all its or his right, title and interest in any security in respect of the Debt assigned by this Assignment, and the same shall be deemed security granted by the Assignor to the Lender.
4.   The Borrower takes notice of this Assignment and covenants and agrees with the Lender that, so long as any moneys are owing to the Lender under the Loan, it will not make any payment whatsoever to the Assignor on the Debt, other than interest thereon as set forth in paragraph 1 above.
5.   The Assignor acknowledges and agrees that all its or his rights in respect of the Debt have been assigned to the Lender but that the acceptance by the Lender of this Assignment shall not impose upon the Lender any obligation to take any steps to effect the collection of same or to ensure that the Debt does not become statute barred by the operation of any law relating to limitation of actions, or otherwise.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first above written.
 
 
 
 
Witness
 
[NAME OF ASSIGNOR]
 
 
 
 
Witness
 
[NAME OF LENDER]
 
 
 
 
Witness
 
[NAME OF BORROWER]
 
You've found your form, but will you need others? If there are other related forms you may need in the future, it may be beneficial to look at our combo packages. On average, customers who purchase a combo package save 40% on the related forms they need. Take a look at the combo packages below to see if one is right for you.
Assignment & Novations Combo Package Get 12 forms for just $39.95 Save 83%! Save Money with this combo package containing all of our most popular Assignment & Novations forms Security, Priority & Subordination Agreement Forms Combo Package Get 11 forms for just $39.95 Save 82%! Save Money by getting our very popular Security, Priority & Subordination forms together in one convenient packet.

Looking for something else?