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Security Trust Agreement

Security Trust Agreement Template for Pakistan

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Key Requirements PROMPT example:

Security Trust Agreement

"I need a Security Trust Agreement under Pakistani law for a syndicated financing arrangement involving five international banks, with the security package including both movable and immovable assets, to be executed by March 2025."

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Document background
The Security Trust Agreement is a crucial document in Pakistani financial transactions where security interests need to be held for multiple beneficiaries. It is commonly used in syndicated lending, project finance, and Islamic financing arrangements where multiple lenders or investors require security over assets. The agreement establishes a trust structure compliant with Pakistani law, particularly the Trust Act 1882, enabling a security trustee to hold and manage security interests on behalf of various beneficiaries. This arrangement simplifies the administration of security interests, facilitates changes in beneficiaries without requiring new security registrations, and provides a clear framework for enforcement. The document addresses key aspects including trustee powers, enforcement mechanisms, distribution of proceeds, and compliance with both conventional and Islamic financing principles where applicable.
Suggested Sections

1. Parties: Identification of the Security Trustee, Security Provider(s), and Beneficiaries

2. Background: Context of the security arrangement, underlying transaction and purpose of the trust

3. Definitions and Interpretation: Key terms, construction rules and interpretation principles

4. Declaration of Trust: Formal creation of the trust and appointment of trustee

5. Security Interest: Nature and scope of security interests being created or held

6. Trust Property: Definition and description of assets held in trust

7. Powers and Duties of Trustee: Detailed obligations, authorities and responsibilities of the security trustee

8. Rights and Obligations of Security Provider: Commitments, warranties and undertakings of the security provider

9. Beneficiary Rights: Rights, entitlements and position of beneficiaries under the trust

10. Security Enforcement: Procedures and circumstances for enforcing security interests

11. Payments and Application of Proceeds: Distribution waterfall and handling of enforcement proceeds

12. Trustee Remuneration and Indemnification: Compensation structure and protection provisions for trustee

13. Replacement of Trustee: Process for trustee resignation, removal and replacement

14. Termination: Events triggering termination and process for trust dissolution

15. Governing Law and Jurisdiction: Choice of law and dispute resolution provisions

Optional Sections

1. Islamic Law Compliance: Required if the agreement needs to be Shariah-compliant, outlining relevant principles and structure

2. Tax Provisions: Include when specific tax arrangements or implications need to be addressed

3. Foreign Law Security: Required when security includes assets located in other jurisdictions

4. Parallel Debt: Include when structure involves multiple jurisdictions requiring parallel debt concepts

5. Security Agent Provisions: Required when separate security agent is appointed alongside trustee

6. Intercreditor Provisions: Include when multiple classes of beneficiaries with different priority rights exist

7. Currency Provisions: Required when trust involves multiple currencies or currency conversion rights

Suggested Schedules

1. Security Assets Schedule: Detailed listing and description of all secured assets

2. Beneficiary Register: List of beneficiaries and their respective interests

3. Form of Transfer Certificate: Template for transferring beneficiary rights

4. Security Documents: Forms of security documents or list of related security instruments

5. Trustee Fee Schedule: Detailed breakdown of trustee compensation and expenses

6. Notice Requirements: Forms of notices and communication requirements

7. Power of Attorney: Form of power of attorney granted to trustee

8. Registration Requirements: List of required registrations and filings for security interests

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Banking

Financial Services

Investment Banking

Corporate Finance

Real Estate

Infrastructure

Energy

Manufacturing

Islamic Finance

Project Finance

Construction

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Banking

Islamic Banking

Project Finance

Credit

Operations

Company Secretarial

Transaction Management

Relevant Roles

Legal Counsel

Finance Director

Corporate Treasurer

Trust Manager

Security Trustee Officer

Compliance Officer

Risk Manager

Transaction Manager

Syndications Manager

Project Finance Manager

Islamic Banking Officer

Corporate Secretary

Chief Financial Officer

Investment Manager

Credit Risk Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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