Deed of Release (Full Release)

Dated 22 December 2024
PARTY_1_NAME (“Financier”)
PARTY_2_NAME (“Security Provider”)


1    Interpretation
1.1    Definitions
These meanings apply unless the contrary intention appears:
Security means SECURITY_AGREEMENT dated ORIGINAL_AGREEMENT_DATE executed between the parties.
Secured Property means SECURED_PROPERTY.

1.2    References to certain general terms
Unless the contrary intention appears, a reference in this deed to:
(a)    a document (including this deed) includes any variation or replacement of it;
(b)    the word “person” includes an individual, a firm, a company, a corporation, an unincorporated association, a government and an authority;
(c)    a particular person includes a reference to the person’s executors, administrators, successors, substitutes (including persons taken by novation) and assigns.

1.3    Number
The singular includes the plural and vice versa.

1.4    Headings
Headings (including those in brackets at the beginning of paragraphs) are for convenience only and do not affect the interpretation of this deed.

2    Release
The Financier:
(a)    releases the Security Provider from all liability under the Security; and
(b)    releases the Secured Property from the Security.

3    Third Party Rights
A person who is not a party to this deed has no rights to enforce any term of this deed and the parties do not require the consent of any person who is not a party to rescind or vary a provision of this deed or right created under it.

4    Governing Law

This document is governed by and are to be construed in accordance with English Law.

All disputes controversy, difference or claim arising out of or in connection with this document, including any question regarding its existence, validity or termination, or any dispute regarding non-contractual obligations shall be finally settled under the arbitration rules of the London Court of International Arbitration by one or more arbitrators appointed in accordance with the said rules. The seat of Arbitration shall be London and proceedings shall be conducted in English.

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