The Subordinated Creditors Security Agreement is a crucial document in complex financing structures where multiple creditors hold different levels of priority in relation to a borrower's obligations. This agreement is particularly relevant in the Philippine context where secured lending transactions must comply with specific local law requirements, including the Personal Property Security Act and Civil Code. The document is typically used in scenarios involving substantial debt financing where junior creditors agree to subordinate their claims to those of senior creditors, while maintaining security interests in the borrower's assets. It addresses key aspects such as security creation, perfection requirements, enforcement mechanisms, and the waterfall of payments in enforcement scenarios. The agreement must be carefully structured to ensure enforceability under Philippine law and to properly protect the interests of all parties involved in the financing arrangement.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies all parties to the agreement including the subordinated creditors, senior creditors, security agent (if any), and the debtor
2. Background: Sets out the context of the agreement, including reference to the primary credit facilities and the need for subordination
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles
4. Subordination and Priority: Details the subordination arrangements and establishes payment priorities between creditors
5. Creation of Security Interest: Establishes the security interest over the collateral and specifies the secured obligations
6. Perfection and Registration: Sets out requirements for perfecting the security interest under Philippine law
7. Representations and Warranties: Contains standard and security-specific representations and warranties from the parties
8. Covenants: Details positive and negative obligations of the parties regarding the security and subordination
9. Enforcement: Specifies enforcement rights, remedies, and procedures following an event of default
10. Application of Proceeds: Establishes the waterfall for distribution of enforcement proceeds
11. Power of Attorney: Grants necessary powers to enforce security interests and take required actions
12. Changes to Parties: Procedures for transfers, assignments, and additions of new parties
13. Notices: Communication requirements and contact details for notices between parties
14. Miscellaneous: Standard boilerplate provisions including governing law, jurisdiction, and severability
15. Execution: Signature blocks and execution formalities
1. Security Agent Provisions: Required when a security agent is appointed to hold and enforce security on behalf of multiple creditors
2. Intercreditor Provisions: Detailed provisions governing relationships between different classes of creditors, needed for complex financing structures
3. Real Property Security: Additional provisions required when real property forms part of the security package
4. Intellectual Property Security: Specific provisions for securing intellectual property rights
5. Insurance: Detailed insurance requirements and assignment of insurance proceeds
6. Bank Accounts: Provisions dealing with secured bank accounts and control agreements
7. Further Assurance: Additional undertakings to perfect or protect security interests in specific jurisdictions
8. Parallel Debt: Required in certain structures to facilitate security agent arrangements
1. Schedule of Secured Parties: List of all secured creditors and their respective commitments or exposure
2. Schedule of Security Assets: Detailed description of all assets subject to the security interest
3. Form of Accession Deed: Standard form for new parties to accede to the agreement
4. Schedule of Existing Security: Details of any existing security interests affecting the secured assets
5. Forms of Notices: Standard forms of notices required for perfection of security
6. Schedule of Bank Accounts: Details of all bank accounts subject to security
7. Priority Rankings: Detailed breakdown of creditor rankings and payment priorities
8. Required Filings and Registrations: List of all required filings and registrations under Philippine law
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate & Construction
Infrastructure
Manufacturing
Energy & Utilities
Mining & Resources
Telecommunications
Transportation & Logistics
Healthcare
Retail & Consumer Goods
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Secretariat
Credit
Transaction Management
Corporate Finance
Debt Capital Markets
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Corporate Lawyer
Compliance Officer
Credit Risk Manager
Security Trustee
Loan Officer
Transaction Manager
Corporate Secretary
Risk Manager
Finance Manager
Banking Relationship Manager
Debt Restructuring Specialist
Find the exact document you need
Pledge Agreement (Real Estate)
A Philippine law-governed security agreement where real property is pledged as collateral to secure a debt or obligation.
Download
Membership Pledge Agreement
A Philippine law-governed agreement that establishes formal membership terms, rights, and obligations between an organization and its members.
Download
Motor Vehicle Security Agreement
A Philippine law-governed agreement establishing a security interest in a motor vehicle as collateral for a loan or financial obligation.
Download
Security Interest Contract
A Philippine law-governed agreement creating a security interest in assets to secure an obligation, subject to the Personal Property Security Act and related legislation.
Download
Real Estate Security Agreement
A Philippine law-governed agreement creating a security interest over real property as collateral for a loan or obligation.
Download
Personal Information Confidentiality Agreement
A Philippine law-compliant agreement establishing confidentiality obligations for handling personal information, aligned with the Data Privacy Act of 2012.
Download
Security Agreement For Promissory Note
A Philippine law-governed security agreement that creates a security interest in collateral to secure obligations under a promissory note.
Download
Stock Transfer Agreement Gift
A Philippine law-compliant agreement for the gratuitous transfer of corporate shares from a donor to a donee, incorporating necessary tax and regulatory requirements.
Download
Security Deposit Agreement
A Philippine law-governed agreement establishing terms for handling, maintaining, and returning a security deposit between parties, typically used in property rental or service arrangements.
Download
Penetration Testing Confidentiality Agreement
A Philippine-law governed agreement establishing confidentiality terms and authorized activities for cybersecurity penetration testing services.
Download
Data Privacy Contract
A Philippine law-compliant contract governing personal data processing arrangements between parties, aligned with the Data Privacy Act of 2012.
Download
Collateral Substitution Agreement
A Philippine law-governed agreement enabling the substitution of loan collateral while maintaining security interest continuity and regulatory compliance.
Download
Agreement To Exclude Security Of Tenure
A Philippine law-compliant agreement that establishes fixed-term employment by excluding security of tenure provisions, subject to Labor Code requirements.
Download
Security Agreement Contract
A Philippine law-governed agreement creating security interests over collateral to secure obligations, complying with the Personal Property Security Act.
Download
Stock Collateral Loan Agreement
A Philippine law-governed agreement establishing terms for a loan secured by shares of stock, including collateral arrangements and enforcement mechanisms.
Download
Stock Pledge And Security Agreement
A Philippine law-governed agreement creating a security interest over shares of stock as collateral for securing obligations.
Download
Tri Party Collateral Agreement
A Philippine law-governed agreement establishing arrangements between three parties for the management and custody of collateral assets.
Download
Purchase Money Security Agreement
A Philippine law-governed agreement creating a security interest in purchased property, establishing purchase terms and secured party's rights under the Personal Property Security Act.
Download
Loan Against Shares Agreement
A Philippine law-governed agreement establishing terms for a loan secured by shares as collateral, detailing pledge arrangements and security mechanisms.
Download
Note And Security Agreement
A Philippine law-governed agreement combining loan terms and security arrangements, establishing both debt obligations and collateral rights.
Download
Debenture Trustee Agreement
A Philippine law-governed agreement appointing and establishing the duties of a trustee to protect debenture holders' interests in a debenture issuance.
Download
Irrevocable Pledge Agreement
A Philippine law-governed security agreement creating an irrevocable pledge over specific assets as collateral for securing obligations.
Download
Guaranty And Security Agreement
A Philippine law-governed agreement combining a personal guarantee with security interests in collateral to secure obligations, subject to local secured transactions laws.
Download
Global Master Repurchase Agreement
A master agreement for repurchase transactions in the Philippines, compliant with BSP and SEC regulations, governing securities financing between financial institutions.
Download
Equipment Security Agreement
A Philippine law-governed agreement creating security interests in equipment as collateral for loans or obligations, regulated under the Personal Property Security Act.
Download
Auto Loan Security Agreement
A Philippine law-governed agreement creating a security interest in a financed vehicle, establishing loan terms and collateral arrangements under local banking and consumer protection regulations.
Download
Personal Security Agreement
A legally-binding agreement under Philippine law that establishes terms and conditions for security service provision, ensuring compliance with RA 5487 and related regulations.
Download
Omnibus Loan And Security Agreement
A Philippine law-governed agreement combining multiple loan facilities and security arrangements into a single comprehensive financing document.
Download
Collateral Account Control Agreement
A Philippine law-governed agreement establishing control over a bank account as collateral security between an account holder, secured party, and deposit bank.
Download
Collateral Account Agreement
A Philippine law-governed agreement establishing security over a bank account and its contents, setting out control and enforcement rights.
Download
Chattel Security Agreement
A Philippine law-governed agreement creating security interests in personal property (chattel) to secure obligations, regulated under the Personal Property Security Act.
Download
Account Control Agreement Collateral
A Philippine law-governed tripartite agreement establishing control over deposit accounts as collateral security, enabling perfection of security interests under local law.
Download
Retail Installment Contract And Security Agreement
A Philippine law-governed agreement combining retail installment sales terms with security provisions for consumer goods purchases, ensuring seller protection and compliance with local consumer protection laws.
Download
Subordinated Creditors Security Agreement
A Philippine law-governed agreement establishing security interests and creditor priorities in secured financing arrangements, regulating relationships between senior and subordinated creditors.
Download
Personal Loan Contract With Collateral
A Philippine law-governed agreement establishing terms for a personal loan secured by collateral, including security interest provisions and regulatory compliance requirements.
Download
Shareholder Agreement Transfer Of Shares
A Philippine law-governed agreement documenting the transfer of shares between shareholders, setting out terms, conditions, and regulatory compliance requirements.
Download
Stock Transfer Restriction Agreement
A Philippine law-governed agreement that establishes restrictions and procedures for corporate share transfers, protecting existing shareholders' interests and maintaining ownership control.
Download
Third Party Collateral Agreement
A Philippine law-governed agreement where a third party provides their assets as collateral to secure another party's obligations to a creditor.
Download
Security Control Agreement
A Philippine-law governed agreement establishing security control measures and compliance requirements, ensuring alignment with local data protection and cybersecurity regulations.
Download
Key Holding Agreement
A Philippine-compliant agreement establishing terms for professional key custody services, including security protocols and liability arrangements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)