Pledge And Security Agreement Template for Ireland

The Pledge and Security Agreement is a crucial document in secured lending and financial transactions under Irish law. It is commonly used when a party (pledgor) needs to provide security over assets to secure obligations owed to another party (pledgee), such as in loan transactions, bond issuances, or other financing arrangements. The agreement must comply with Irish security creation and perfection requirements, including registration with relevant authorities where necessary. It typically covers various types of collateral including financial instruments, bank accounts, receivables, and other assets, and must align with both domestic Irish legislation and applicable EU regulations. The document is essential for creating enforceable security interests and providing clarity on the parties' rights and obligations regarding the pledged assets.

1. Parties: Identification of the pledgor and pledgee (security provider and security taker)

2. Background: Context of the security arrangement, reference to any underlying obligations or facility agreements

3. Definitions and Interpretation: Definitions of key terms and interpretation rules used throughout the agreement

4. Creation of Security: Core provisions creating the security interest and pledge over the collateral

5. Secured Obligations: Definition and scope of the obligations being secured by the pledge

6. Representations and Warranties: Pledgor's representations regarding ownership, authority, and status of collateral

7. Covenants: Ongoing obligations of the pledgor regarding maintenance and preservation of collateral

8. Perfection Requirements: Actions required to perfect the security interest, including registration and notices

9. Further Assurance: Obligation to execute additional documents and take actions to perfect security

10. Events of Default: Circumstances constituting default under the agreement

11. Enforcement: Rights and remedies of the pledgee upon default, including power of sale

12. Power of Attorney: Appointment of pledgee as pledgor's attorney for enforcement purposes

13. Notices: Process and requirements for giving notices under the agreement

14. Assignment and Transfer: Rules regarding transfer of rights under the agreement

15. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction for disputes