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Security Sharing Agreement
"Need a Security Sharing Agreement to establish priority arrangements between three banks providing project finance for a wind farm development, with the security agent being Deutsche Bank and including specific provisions for enforcement during construction phase starting March 2025."
1. Parties: Identification and details of all parties to the agreement
2. Background: Context of the security arrangement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Security Interests: Description of shared security interests and assets covered
5. Ranking and Priority: Order of priority between security holders
6. Enforcement Provisions: Rights and procedures for enforcing security
7. Distribution of Proceeds: How proceeds from enforcement will be distributed
1. Standstill Provisions: Used when parties agree to temporarily suspend enforcement rights in specific circumstances
2. Voting Rights: Procedures for decision-making between security holders when multiple security holders need coordination mechanisms
3. Cross-Border Provisions: Addressing international security interests when security involves multiple jurisdictions
1. Schedule of Secured Assets: Detailed list of assets subject to security
2. Form of Accession Deed: Template for new parties joining the agreement
3. Existing Security Documents: List of pre-existing security arrangements
4. Distribution Waterfall: Detailed breakdown of proceeds distribution order
5. Notice Requirements: Forms and procedures for required notices
Authors
Accession Deed
Affiliate
Agent
Business Day
Creditor Liabilities
Default
Enforcement Action
Enforcement Date
Enforcement Notice
Event of Default
Finance Documents
Financial Indebtedness
Insolvency Event
Intercreditor Obligations
Liabilities
Majority Lenders
Payment
Permitted Enforcement Action
Principal Documents
Priority of Payments
Proceeds
Qualifying Senior Creditor
Receiver
Recoveries
Secured Assets
Secured Obligations
Secured Parties
Security
Security Agent
Security Documents
Security Interest
Security Period
Security Trust
Senior Creditors
Standstill Period
Subordinated Creditors
Subsidiary
Transaction Security
Trust Property
Voting Rights
Turnover of Receipts
Payment Mechanics
Security and Guarantees
Enforcement of Security
Application of Proceeds
Standstill Provisions
Purchase Options
Amendments and Waivers
Changes to Parties
Accession Mechanics
Information Sharing
Costs and Expenses
Indemnities
Notices
Calculations and Certificates
Partial Invalidity
Remedies and Waivers
Counterparts
Governing Law
Enforcement Rights
Jurisdiction
Service of Process
Confidentiality
Decision Making
Security Agent Provisions
Representations and Warranties
Undertakings
Default
Transfer Provisions
Release of Security
Further Assurance
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