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Purchasing and selling loans in Cyprus
Credit facilities which can be acquired and sold consist of:
The following entities are able to acquire credit facilities:
Any credit facility transferred to a purchaser following its acquisition is transferred together with all rights and obligations arising under the terms of the contract for such facility and shall be valid as between such purchaser and the original debtor. The time at which the credit facility is transferred is that agreed between the seller and purchaser in their relevant agreement.
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