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Security Assignment Agreement
"I need a Security Assignment Agreement under Indian law to secure a loan of INR 50 crores against receivables from government infrastructure contracts, with enforcement rights exercisable after a 30-day cure period."
1. Parties: Identification of the Assignor and Assignee, including full legal names, addresses, and registration details
2. Background: Context of the security assignment, including details of the underlying obligation being secured
3. Definitions: Definitions of key terms used throughout the agreement, including 'Security Assets', 'Secured Obligations', and 'Enforcement Event'
4. Assignment: Core provision detailing the assignment of security interest, scope of assets covered, and nature of the security
5. Representations and Warranties: Assignor's confirmations regarding ownership, authority to assign, and status of security assets
6. Covenants: Ongoing obligations of the Assignor regarding the security assets, including maintenance and restrictions on disposal
7. Security Perfection: Requirements for perfecting the security interest, including registration and notices
8. Enforcement: Rights and remedies of the Assignee upon occurrence of an enforcement event
9. Power of Attorney: Appointment of Assignee as Assignor's attorney for security-related actions
10. Payments and Proceeds: Treatment of income and proceeds from security assets
11. Termination and Release: Conditions for release of security and termination of the agreement
12. Miscellaneous: Standard boilerplate provisions including notices, amendments, governing law, and jurisdiction
1. Further Assurance: Additional obligations to execute documents or perform actions to perfect security - include when dealing with complex assets or cross-border elements
2. Tax Provisions: Specific tax-related provisions - include when assignment may have significant tax implications
3. Currency Provisions: Rules for currency conversion and payment - include when dealing with cross-border transactions
4. Additional Rights of Assignee: Enhanced rights for the Assignee - include when dealing with high-risk transactions or specific asset types
5. Information Rights: Rights to receive information about security assets - include when ongoing monitoring is crucial
6. Insurance: Requirements for insurance of security assets - include when physical assets are involved
1. Schedule 1 - Security Assets: Detailed description and/or list of assets subject to the security assignment
2. Schedule 2 - Secured Obligations: Details of the obligations being secured by the assignment
3. Schedule 3 - Form of Notice: Template notice to be sent to relevant third parties regarding the assignment
4. Schedule 4 - Perfection Requirements: Specific actions required to perfect the security in different jurisdictions
5. Schedule 5 - Existing Security: Details of any existing security interests over the assets
6. Appendix A - Powers of Attorney: Form of power of attorney to be executed
7. Appendix B - Registration Forms: Forms required for registering the security interest with relevant authorities
Authors
Banking
Financial Services
Real Estate
Infrastructure
Manufacturing
Energy
Telecommunications
Construction
Mining
Private Equity
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Finance
Project Finance
Operations
Credit
Legal Counsel
Finance Director
Chief Financial Officer
Security Trustee
Compliance Officer
Risk Manager
Treasury Manager
Contract Manager
Corporate Finance Manager
Project Finance Manager
Transaction Manager
Security Agent
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