This POA for individual is given to the Lender in relation to the Mortgage / Charge of Securities as security for a loan.
The Mortgagor hereby irrevocably and by way of security for the payment by it of the Secured Amounts and the performance by it of its obligations under the Loan Agreement, Guarantee and the Equitable Mortgage appoints the Lender and its successors in title and assigns (the Attorney) as the true and lawful attorney of the Mortgagor, on behalf of the Mortgagor and in the Mortgagor's own name or otherwise.
The Lender is authorized to transfer or procure the transfer of all or any of the Security Shares into the name of the Attorney or its nominee or nominees, or the name of any purchaser of all or any of the Security Shares, or its nominee or nominees (and for such purpose to complete, make and/or execute any form or forms of transfer in respect of any thereof) and to execute and deliver all other deeds or documents and to do all acts and things which the Attorney may consider necessary or advisable to perfect or to give proper effect to the intent and purposes of the Equitable Mortgage.
The Mortgagor undertakes to indemnify the Attorney and any substitute or agent of the Attorney acting hereunder against all costs, claims, expenses, and liabilities incurred by the Attorney or such substitute or agent in connection with the exercise in good faith of any right, power or authority hereby granted or purported to be granted.
This document should be carefully read by the Mortgagor and the lender.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
Create Document: Click on the “Create document” button and fill in the details of the parties. You can click the “Fill with Member’s Information” button to complete the party’s information with your personal or business information saved to your account.
Please fill in any additional information by following the step-by-step guide on the left-hand side of the preview document and clicking the “Next” button.
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Please get all parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document. The document should be signed by the authorised signatory (or 2 directors for a company) and witnessed to complete the formality.