As a Deed of Trust Format, this document can be used as a template of Security Trust Deed where the Borrower is providing Secured Property on Trust as security for the Facility granted by the Lender(s). The Trustee will hold the benefit of the Security on trust for the Lender(s) as represented by the Agent.
The Lenders have agreed to make available to the Borrower the Facility upon the terms and conditions of the Facility Agreement.
The Trustee has agreed to act as trustee of this Deed and to hold the benefit of the Security Documents and the security thereby created on trust for the Lenders.
Pursuant to the provisions of the Facility Agreement, the Borrower has agreed to execute the Security Documents in favour of the Trustee to be held by it on trust for the Lenders in accordance with the terms and conditions of this Deed.
The Trustee shall hold all the covenants and other security interests made pursuant to any of the Security Documents for itself as a Lender at any time while it is the sole Lender participating in the Facility and at any other time on trust for itself and the Lenders rateably in proportion to their respective participation from time to time in the Facility.
This document should be carefully read by the Individual Borrower and Trustee.
The Security Interests and relevant covenants should be clearly stated in the Security Trust Deed.
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.
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