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Commercial Security Agreement
1. Parties: Identification of the secured party (security holder) and the security provider, including full legal names, registration numbers, and addresses
2. Background: Context of the security agreement, including reference to any underlying obligations or facility agreements
3. Definitions: Definitions of key terms used throughout the agreement, including specific Danish legal terminology
4. Grant of Security: The core provision creating the security interest, specifying the type of security being granted
5. Secured Obligations: Clear definition of the obligations being secured, including principal debt, interest, and other secured amounts
6. Description of Collateral: Detailed description of the assets subject to the security interest
7. Perfection Requirements: Steps required to perfect the security interest under Danish law, including registration requirements
8. Representations and Warranties: Standard representations regarding ownership of collateral, authority to grant security, and absence of encumbrances
9. Covenants: Ongoing obligations of the security provider regarding maintenance and protection of the collateral
10. Enforcement: Rights and remedies of the secured party upon default, compliant with Danish enforcement laws
11. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction of Danish courts
1. Further Assurance: Additional actions the security provider must take to perfect or maintain the security - include if complex collateral involved
2. Power of Attorney: Authorization for the secured party to act on behalf of the security provider - include if enforcement may require direct action
3. Insurance: Requirements for insurance of the collateral - include if physical assets are part of the security
4. Negative Pledge: Restrictions on creating additional security over the collateral - include for high-value or critical security arrangements
5. Release Provisions: Conditions and process for releasing the security - include if partial releases may be needed
6. Third Party Rights: Provisions regarding rights of third parties - include if multiple creditors or stakeholders involved
7. Assignment and Transfer: Rights to assign or transfer the security interest - include if secondary market trading is contemplated
1. Schedule 1 - Collateral Description: Detailed technical description of all assets subject to the security interest
2. Schedule 2 - Perfection Requirements: Specific actions required for perfection, including forms and registration requirements
3. Schedule 3 - Form of Notices: Standard forms for any required notices to third parties or registration authorities
4. Schedule 4 - Existing Security Interests: List of any permitted existing security interests over the collateral
5. Schedule 5 - Related Agreements: List and details of related agreements (facility agreements, intercreditor agreements, etc.)
6. Appendix A - Registration Forms: Forms required for registering the security interest with relevant Danish authorities
7. Appendix B - Power of Attorney: Form of power of attorney if required
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