The Collateral Assignment Agreement is a key security document used in Hong Kong to create security interests over various types of assets. It is commonly employed in financing transactions, including loan facilities, bond issuances, and other secured lending arrangements. The agreement is particularly useful when the collateral consists of intangible assets such as contractual rights, receivables, or insurance policies. The document must comply with Hong Kong's security creation and registration requirements, particularly under the Companies Ordinance and other relevant legislation. It typically includes comprehensive provisions covering the creation of security, perfection requirements, enforcement mechanisms, and the ongoing obligations of the security provider. The agreement is essential for lenders and security takers to establish enforceable security interests while providing borrowers and security providers with clear parameters for maintaining and dealing with the secured assets.
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1. Parties: Identifies the assignor (security provider), assignee (security taker), and any other relevant parties
2. Background: Sets out the context of the agreement, including reference to any underlying obligations being secured
3. Definitions and Interpretation: Defines key terms and establishes interpretation principles for the agreement
4. Assignment: Core provision creating the security interest and specifying the collateral being assigned
5. Secured Obligations: Defines the obligations being secured by the collateral assignment
6. Representations and Warranties: Assignor's confirmations regarding ownership, authority, and status of the collateral
7. Covenants: Ongoing obligations of the assignor regarding the collateral and maintenance of the security
8. Further Assurance: Obligations to execute additional documents and take actions to perfect the security
9. Enforcement: Rights and remedies of the assignee upon default or enforcement event
10. Power of Attorney: Appointment of the assignee as attorney to perfect or enforce the security
11. Notices: Process for giving notices under the agreement
12. General Provisions: Standard boilerplate provisions including governing law, jurisdiction, etc.
1. Security Registration: Required if the collateral requires specific registration under Hong Kong law
2. Income and Voting Rights: Needed if the collateral includes shares or other securities with voting/income rights
3. Insurance: Required if the collateral needs to be insured
4. Bank Accounts: Needed if the collateral includes bank accounts or cash deposits
5. Intellectual Property: Required if the collateral includes IP rights
6. Receivables: Needed if the collateral includes accounts receivable or other payment rights
7. Release and Reassignment: Optional provisions for releasing the security upon satisfaction of secured obligations
1. Schedule 1 - Description of Collateral: Detailed description of all assets subject to the assignment
2. Schedule 2 - Secured Obligations: Detailed description of the obligations being secured
3. Schedule 3 - Form of Notice: Template notices to third parties regarding the assignment
4. Schedule 4 - Perfection Requirements: List of specific actions required to perfect the security interest
5. Schedule 5 - Existing Security Interests: Details of any existing security interests affecting the collateral
6. Appendix A - Required Registrations: List of all necessary registrations and filings
7. Appendix B - Form of Acknowledgment: Template acknowledgment forms for third parties
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Investment Management
Insurance
Real Estate
Manufacturing
Trading
Technology
Telecommunications
Professional Services
Healthcare
Construction
Retail
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Secretarial
Credit
Security Administration
Transaction Management
Corporate Banking
Relevant Roles
Legal Counsel
Finance Director
Corporate Secretary
Chief Financial Officer
Treasury Manager
Risk Manager
Compliance Officer
Security Trustee
Loan Officer
Credit Manager
Transaction Manager
Corporate Banking Manager
Securities Officer
Senior Legal Manager
Financial Controller
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