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Security Control Agreement
"I need a Security Control Agreement for a multi-bank financing arrangement where Bank A will act as security agent for a syndicate of five lenders, with security being taken over deposit accounts and investment portfolios held with three different custodians from March 2025."
1. Parties: Identification and details of all parties to the agreement including security provider, security taker, and any security agent
2. Background: Context of the security arrangement, underlying obligations, and purpose of the control agreement
3. Definitions: Defined terms used throughout the agreement including specific financial and security-related terminology
4. Security Assets: Detailed description and scope of the assets subject to security control
5. Control Mechanisms: Specific procedures and requirements for controlling and managing security assets
6. Rights and Obligations: Detailed responsibilities and duties of each party in relation to the security assets
7. Events of Default: Circumstances constituting breach and their consequences under the agreement
8. Enforcement: Rights and procedures for enforcing security following an event of default
9. Representations and Warranties: Statements of fact and assurances given by the parties
10. Governing Law and Jurisdiction: Specification of English and Welsh law as governing law and jurisdiction for disputes
1. Security Agent Provisions: Provisions governing the appointment, roles, and responsibilities of a security agent when acting for multiple secured parties
2. Intercreditor Provisions: Provisions regulating the relationship between different classes of secured creditors and their respective rights
3. Foreign Law Assets: Additional provisions dealing with security assets located in jurisdictions outside England and Wales
4. Data Protection Compliance: Specific provisions ensuring compliance with UK GDPR and Data Protection Act 2018 when handling personal data
5. Anti-Money Laundering Provisions: Additional compliance requirements when the agreement involves regulated entities or activities
1. Schedule of Security Assets: Comprehensive list and description of all assets subject to security control
2. Form of Notice: Template notices required for perfection of security and notification to relevant parties
3. Control Procedures: Detailed operational procedures and protocols for implementing security control
4. Authorized Signatories: List of persons authorized to give instructions regarding the security assets
5. Required Regulatory Filings: List and forms of any regulatory filings required to perfect or maintain the security
Authors
Applicable Law
Assets
Authorized Person
Business Day
Charged Assets
Collateral
Control
Control Notice
Default
Enforcement Event
Event of Default
Financial Collateral
Governing Law
Instructions
Notice
Parties
Perfection Requirements
Permitted Activities
Relevant Account
Secured Assets
Secured Liabilities
Secured Obligations
Secured Party
Security
Security Agent
Security Documents
Security Interest
Security Period
Security Provider
Signing Date
Specified Account
Transaction Documents
Appointment
Security Interest Creation
Control Mechanisms
Operating Procedures
Instructions and Notifications
Rights and Obligations
Representations and Warranties
Covenants
Events of Default
Enforcement
Security Agent Powers
Bank Rights and Obligations
Notices
Amendments and Waivers
Assignment and Transfer
Confidentiality
Costs and Expenses
Indemnities
Set-off Rights
Payment Mechanics
Termination
Severability
Counterparts
Third Party Rights
Governing Law
Jurisdiction
Dispute Resolution
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