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Charge over Bank Account

Third Party Bank

The Charge over Bank Account is given by the Account Holder to a Lender as security for a loan / facility provided by the Lender. This document contains four parts: the deed, notice from the account holder, notice from the lender and notice from the bank.

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The document should be signed by the authorised signatory (or directors of a company) and witnessed to complete the formality.

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Document Description

This document is a charge over a bank account, which serves as a security for a facility agreement between the account holder and the lender. The document begins with an interpretation section, defining key terms used throughout the document. It then proceeds to outline the charge over the deposit, stating that the account holder assigns its right, title, and interest in the deposit to the lender as security for the payment and discharge of the secured amounts. The document also includes provisions for the renewal of the deposit, restrictions on the account holder's withdrawal of the deposit without the lender's consent, and the account holder's obligation to provide information to the lender. Additionally, the document contains provisions for the payment of expenses and indemnity by the account holder, further assurances to be provided by the account holder, and the cumulative nature of the lender's rights and powers. It also addresses the retention of charges by the lender under certain circumstances, the service of notices and communications between the parties, and the governing law and jurisdiction of the document. The document concludes with signature and witness blocks, as well as schedules for notices from the account holder, notices from the lender, and notices from the bank.

How to use this document?

To use this document, follow these steps:


1. Review the definitions provided in the interpretation section to understand the key terms used throughout the document.

2. Ensure that you have entered the correct information for the account holder and the lender in the introductory section of the document.

3. If applicable, determine whether the borrower is involved and make the necessary adjustments to the facility agreement definition.

4. Read through the provisions of the document carefully, paying attention to the rights and obligations of both parties.

5. If any changes or additions are required, consult with legal counsel to ensure that the document accurately reflects the intentions of both parties.

6. Once the document is finalized, ensure that it is executed as a deed and delivered by the parties.

7. If necessary, provide the required notices to the bank as outlined in the schedules.

8. Keep a copy of the executed document and any related notices for your records.


Please note that this guidance is for informational purposes only and does not constitute legal advice. It is recommended to consult with legal professionals for specific guidance related to your situation.

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