The Account Pledge Agreement is a crucial security document used in Swiss financing transactions where bank accounts serve as collateral. It is typically employed in corporate lending, project finance, and other secured financing arrangements where a lender requires security over the borrower's bank accounts. The agreement must comply with Swiss legal requirements for creating valid security interests, particularly under the Swiss Civil Code and Code of Obligations. It details the accounts being pledged, the secured obligations, operating mechanics, and enforcement procedures. The document is essential for establishing the pledgee's security interest and ensures that the security package meets Swiss law requirements for enforceability. The agreement includes specific provisions required under Swiss law for perfection of the security interest and notice requirements to account banks.
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1. Parties: Identification of the Pledgor, Pledgee, and Account Bank
2. Background: Context of the pledge agreement, including reference to any underlying credit or facility agreement
3. Definitions and Interpretation: Definitions of key terms and interpretation rules
4. Creation of Pledge: Legal provisions establishing the pledge over the accounts
5. Scope of Security: Description of pledged accounts and all rights, interests, and proceeds covered
6. Perfection and Further Assurances: Requirements for perfecting the pledge and obligations to execute additional documents
7. Pledgor's Representations and Warranties: Statements about account ownership, authority to pledge, and absence of other encumbrances
8. Pledgor's Obligations: Ongoing obligations regarding the pledged accounts, including maintenance and restrictions
9. Rights to Accounts: Terms governing access to and operation of the accounts before and after enforcement
10. Enforcement: Circumstances and procedures for enforcing the pledge
11. Application of Proceeds: Order of applying any proceeds from enforcement
12. Release of Security: Conditions and process for releasing the pledge
13. Miscellaneous: Standard provisions including notices, amendments, assignments, and severability
14. Governing Law and Jurisdiction: Swiss law as governing law and jurisdiction provisions
1. Account Bank Provisions: Specific provisions involving the account bank if it is a party to the agreement
2. Currency Provisions: Special provisions for accounts in multiple currencies
3. Parallel Debt: Required when the pledge is granted to a security agent or trustee
4. Power of Attorney: Optional authorization for the pledgee to act on behalf of the pledgor
5. Tax Provisions: Specific provisions dealing with tax implications of the pledge
6. Securities Accounts: Additional provisions if securities accounts are included in the pledge
1. Schedule 1 - Pledged Accounts: List and details of all accounts subject to the pledge
2. Schedule 2 - Form of Notice to Account Bank: Template notice informing the account bank of the pledge
3. Schedule 3 - Form of Acknowledgment: Template acknowledgment to be signed by the account bank
4. Schedule 4 - Account Bank Agreement: Terms agreed with the account bank if it is a party
5. Appendix 1 - Board Resolutions: Form of corporate approvals required for the pledge
6. Appendix 2 - Power of Attorney: Form of power of attorney if required
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Corporate Lending
Investment Banking
Private Equity
Asset Management
Insurance
Real Estate
Infrastructure
Manufacturing
Energy
Telecommunications
Healthcare
Retail
Technology
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Finance
Credit Administration
Transaction Management
Banking Operations
Security Administration
Relevant Roles
Legal Counsel
Senior Legal Counsel
Head of Legal
Chief Legal Officer
Finance Director
Chief Financial Officer
Treasury Manager
Head of Treasury
Credit Manager
Risk Manager
Compliance Officer
Transaction Manager
Corporate Finance Manager
Banking Relationship Manager
Security Trustee
Facility Agent
Contract Manager
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