¶¶Òõ¶ÌÊÓƵ

The Security Trust Deed is a crucial document in complex financing arrangements where multiple parties have security interests that need to be managed efficiently. This deed establishes a trust structure where a security trustee holds and manages security interests on behalf of multiple beneficiaries, providing a streamlined approach to security management and enforcement. Under New Zealand law, the Security Trust Deed addresses key aspects such as the appointment and powers of the security trustee, the creation and operation of the security trust, enforcement mechanisms, and the rights and obligations of all parties involved. It is particularly useful in syndicated lending arrangements, project financing, and other complex financial transactions where multiple secured parties are involved. The document ensures compliance with New Zealand's trust law, property law, and personal property securities legislation while providing a practical framework for managing security interests.

1. Parties: Identifies the key parties including the Security Trustee, the Borrower/Debtor, and the Secured Parties (Beneficiaries)

2. Background: Sets out the context of the security trust arrangement and the purpose of the deed

3. Definitions and Interpretation: Defines key terms used throughout the deed and establishes interpretation principles

4. Appointment of Security Trustee: Establishes the appointment of the security trustee and the creation of the security trust

5. Declaration of Trust: Formal declaration of trust over the secured property and security interests

6. Powers and Duties of Security Trustee: Detailed description of the security trustee's powers, duties, and responsibilities

7. Security Trust: Details of how the security trust operates, including the holding and management of security interests

8. Remuneration and Indemnity: Provisions regarding the security trustee's fees and indemnification rights

9. Security Enforcement: Procedures and powers for enforcing security interests and distributing proceeds

10. Distribution of Proceeds: Rules for distributing proceeds from security enforcement among beneficiaries

11. Liability and Indemnity: Limitations on trustee liability and indemnification provisions

12. Resignation and Replacement: Process for resignation, removal, and replacement of the security trustee

13. Amendments and Waivers: Procedures for amending the deed and conditions for granting waivers

14. Governing Law and Jurisdiction: Specifies New Zealand law as governing law and jurisdiction for disputes

15. General Provisions: Standard boilerplate provisions including notices, severability, and counterparts