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Second Trust Deed Template for Australia

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Key Requirements PROMPT example:

Second Trust Deed

"I need a Second Trust Deed for a manufacturing facility in Melbourne, where we're seeking additional financing of AUD 5 million against equipment already secured under an existing trust deed, with settlement planned for March 2025."

Document background
A Second Trust Deed is utilized in situations where additional security is required over assets that are already subject to an existing security arrangement. This commonly occurs in refinancing scenarios, additional funding requirements, or complex project financing structures in Australia. The document details the relationship between the primary and secondary security interests, establishes priorities between secured parties, and outlines the rights and obligations of all parties involved. It must comply with Australian trust law, the Personal Property Securities Act 2009, and relevant state-based property legislation. The Second Trust Deed typically includes comprehensive details about the secured assets, enforcement mechanisms, and the relationship with the primary security, making it essential for staged financing arrangements or when multiple creditors are involved in a transaction.
Suggested Sections

1. Parties: Identifies all parties including the trustee, security provider, beneficiaries, and any other relevant parties

2. Background: Recitals explaining the context, including reference to the primary trust deed and reason for this second trust deed

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles, including references to definitions in the primary trust deed

4. Relationship with Primary Trust Deed: Establishes how this deed operates in conjunction with the primary trust deed

5. Grant of Security: Details the security interest being granted and the assets or rights being secured

6. Secured Obligations: Specifies the obligations being secured by this second trust deed

7. Representations and Warranties: Standard and specific representations and warranties given by the security provider

8. Covenants: Ongoing obligations and commitments of the security provider

9. Enforcement: Rights and procedures for enforcing the security interest

10. Power of Attorney: Appointment of the secured party as attorney for specific purposes

11. Protection of Third Parties: Provisions protecting third parties dealing with the security trustee

12. Expenses and Indemnities: Allocation of costs and indemnification obligations

13. General Provisions: Standard boilerplate clauses including notices, governing law, and jurisdiction

Optional Sections

1. Priority Arrangements: Required when establishing priority between this security and other security interests

2. Further Advances: Include when the security may secure future advances or facilities

3. Cross-Collateralization: Include when security is cross-collateralized with other facilities or obligations

4. Special Asset Provisions: Include when specific types of assets (e.g., real property, shares) require special treatment

5. Trust Limitation Provisions: Include when the security provider is acting as trustee of a trust

6. Foreign Security Provisions: Required when secured assets are located in multiple jurisdictions

7. PPSA Specific Provisions: Include detailed Personal Property Securities Act provisions if relevant to the security

Suggested Schedules

1. Schedule 1 - Secured Property: Detailed description of all assets subject to the security interest

2. Schedule 2 - Secured Obligations: Detailed description of all obligations secured by the deed

3. Schedule 3 - Security Provider Details: Full details of the security provider including ACN/ABN and address

4. Schedule 4 - Existing Security Interests: List of any existing security interests affecting the secured property

5. Schedule 5 - Special Terms: Any special terms or conditions applicable to specific secured property

6. Appendix A - Form of Financing Statement: Template for PPSA registration if applicable

7. Appendix B - Security Provider Certificates: Required certificates and supporting documents from the security provider

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions














































Clauses






























Relevant Industries

Banking and Financial Services

Real Estate and Property

Corporate Finance

Investment Management

Private Equity

Infrastructure

Commercial Property Development

Mining and Resources

Agriculture

Manufacturing

Relevant Teams

Legal

Finance

Risk Management

Compliance

Security Operations

Credit

Trust Administration

Corporate Banking

Property Finance

Transaction Management

Relevant Roles

Legal Counsel

Security Trustee Manager

Trust Administrator

Commercial Finance Manager

Property Finance Manager

Compliance Officer

Risk Manager

Corporate Lawyer

Banking and Finance Lawyer

Trust Manager

Security Operations Manager

Credit Risk Officer

Transaction Manager

Portfolio Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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