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General Security Agreement
1. Parties: Identification of the secured party (security taker) and the grantor (security provider)
2. Background: Context of the security arrangement, including reference to any underlying obligations or facility agreements
3. Definitions and Interpretation: Definitions of key terms and interpretation rules used throughout the agreement
4. Grant of Security Interest: Core provision creating the security interest over the collateral
5. Collateral Description: Detailed description of the assets subject to the security interest
6. Secured Obligations: Definition and scope of the obligations being secured
7. Representations and Warranties: Grantor's confirmations regarding ownership, authority, and status of collateral
8. Perfection and Registration: Requirements and procedures for perfecting the security interest
9. Grantor's Covenants: Ongoing obligations of the grantor regarding the collateral
10. Enforcement: Rights and remedies of the secured party upon default
11. Power of Attorney: Appointment of secured party as attorney for specific purposes
12. Notices: Communication requirements and contact details
13. Assignment and Transfer: Rules regarding transfer of rights under the agreement
14. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction
1. Further Assurance: Additional actions parties must take to perfect or maintain security - include when complex collateral is involved
2. Insurance: Insurance requirements for collateral - include when physical assets are part of security
3. Bank Accounts: Specific provisions for charged accounts - include when bank accounts form part of security
4. Intellectual Property: Specific provisions for IP rights - include when IP forms part of security
5. Release of Security: Conditions and process for releasing security - include when partial releases may be needed
6. Currency Conversion: Rules for currency conversion - include when multiple currencies are involved
7. Costs and Expenses: Allocation of costs - include when significant ongoing costs expected
8. Amendments and Waivers: Process for modifications - include when frequent updates expected
1. Schedule of Collateral: Detailed listing and description of all assets subject to security
2. Perfection Requirements: Specific actions required to perfect security interest in different types of collateral
3. Form of Notice: Template notices to third parties regarding the security interest
4. Secured Party Details: Complete contact and payment details for the secured party
5. Registration Requirements: Specific requirements for registering security interests in different jurisdictions
6. Forms of Accession: Templates for additional parties joining the security arrangement
7. Existing Security Interests: List of permitted existing security interests over the collateral
Authors
Additional Security Provider
Affiliate
Authorisation
Business Day
Charged Assets
Collateral
Default
Default Notice
Delegate
Disposal
Enforcement Event
Enforcement Notice
Event of Default
Facility Agreement
Finance Documents
Financial Collateral
Financial Indebtedness
Governmental Authority
Insolvency Event
Insolvency Proceedings
Legal Reservation
Lien
Material Adverse Effect
Obligations
Perfection Requirements
Permitted Security
Power of Attorney
Receiver
Registration Requirements
Secured Assets
Secured Liabilities
Secured Obligations
Secured Parties
Security
Security Agent
Security Assets
Security Document
Security Interest
Security Period
Security Provider
Security Trust Deed
Security Trustee
Subsidiary
Tax
Transaction Documents
Transfer
Voting Rights
Working Hours
Interpretation
Grant of Security
Secured Obligations
Continuing Security
Representations and Warranties
Covenants
Perfection of Security
Registration Requirements
Further Assurance
Negative Pledge
Enforcement
Power of Attorney
Application of Proceeds
Release of Security
Set-off Rights
Assignment and Transfer
Delegation
Information Rights
Costs and Expenses
Indemnification
Amendments and Waivers
Severability
Counterparts
Notices
Confidentiality
Force Majeure
Entire Agreement
Third Party Rights
Governing Law
Jurisdiction
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