Assignment Deed - Security Interest

Document Name:
Assignment Deed
Form:
Security Interest
 
Document Type:
Deed /poa / authorisation / agency / escrow
Category:
Business > Finance and Capital Raising > Banking
 
 
Detailed Description:
An assignment of security (agreements / contracts) as security to a Security Trustee for facilities loan given by a Lender/ Bank. Forms of notices to and acknowledgements by lenders / counterparties are also attached.

The Assignor, the Lenders and the Security Trustee has entered into the Facility Agreement.

As security for the facility under the Facility Agreement, the Assignor has agreed to assign the Assigned Property to the Security Trustee for the consideration and upon the terms set out below.

The Assignor covenants with the Security Trustee that it will on demand pay or discharge to or for the benefit of the Security Trustee without deduction, set-off or counterclaim all moneys and liabilities whatsoever which now are or at any time hereafter may (whether on or after any such demand) become due, owing or payable, in any currency, to the Secured Parties and any of them by the Assignor, actually or contingently, solely or jointly and/or severally with another or others, as principal or surety, pursuant to or in connection with the Facility Agreement, this Deed and the other Transaction Documents and also all that may be sustained, suffered or incurred by the Security Trustee or the Receiver arising out of or in connection with any act, matter or thing done or omitted to be done by the Assignor under this Deed or any other Transaction Document and also interest on the foregoing to the date of payment.

Interest shall be payable at such rate or rates and upon such terms as may from time to time be agreed or, failing agreement, at such rate or rates as may be notified by the Security Trustee to the Assignor and interest shall be computed and compounded according to the usual practice for the time being of the Security Trustee and shall be payable as well after as before any demand made, judgment obtained or liquidation or administration of the Assignor.

The Assignor, with full title guarantee, hereby assigns and agrees to assign the Assigned Property, absolutely, unconditionally and by way of first ranking fixed security interest, to and in favour of the Security Trustee as security trustee for the Secured Parties, as continuing security for the payment and discharge of the Secured Obligations.

The Assignor, with full title guarantee, hereby charges and agrees to charge the Account and all moneys (including interest) from time to time standing to the credit of the Account, by way of first ranking fixed charge, in favour of the Security Trustee as security trustee for the Securities Parties, as continuing security for the payment and discharge of the Secured Obligations.
 
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