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Security Agreement Form
"I need a Security Agreement Form for a manufacturing company pledging its equipment and inventory as collateral for a RM 5 million business loan from Malaysia Bank Berhad, with the security to be effective from March 1, 2025."
1. Parties: Identification of the Secured Party and the Security Provider/Grantor
2. Background: Context of the security arrangement, reference to underlying obligations or facility agreements
3. Definitions and Interpretation: Key terms used in the agreement, including defined terms for secured assets, obligations, and enforcement rights
4. Grant of Security Interest: Core provision creating the security interest over the specified assets
5. Secured Obligations: Description of the obligations being secured by the agreement
6. Representations and Warranties: Security Provider's declarations regarding ownership, authority, and status of secured assets
7. Covenants: Ongoing obligations of the Security Provider regarding maintenance and protection of secured assets
8. Events of Default: Circumstances that trigger enforcement rights
9. Enforcement Rights: Powers and remedies available to the Secured Party upon default
10. Power of Attorney: Appointment of Secured Party as attorney for enforcement purposes
11. Further Assurance: Obligation to execute additional documents or take actions to perfect security
12. Notices: Communication procedures between parties
13. Governing Law and Jurisdiction: Specification of Malaysian law and jurisdiction for disputes
1. Security Margin: Used when maintaining a specific ratio between secured assets and obligations is required
2. Insurance: Include when secured assets must be insured
3. Assignment and Transfer: Include when rights under the agreement may be assigned or transferred
4. Priority Arrangements: Required when there are multiple security interests or lenders
5. Currency Provisions: Include when secured obligations involve multiple currencies
6. Tax Provisions: Include when specific tax implications need to be addressed
7. Registration Requirements: Include when security interests require registration under specific Malaysian laws
8. Release and Discharge: Detailed provisions for releasing security when obligations are fulfilled
1. Schedule 1 - Description of Secured Assets: Detailed description and identification of assets subject to security
2. Schedule 2 - Form of Notice: Standard forms for notices to be given under the agreement
3. Schedule 3 - Secured Obligations: Detailed description of the secured obligations or reference to facility agreements
4. Schedule 4 - Permitted Security Interests: List of pre-existing or permitted security interests over the assets
5. Schedule 5 - Registration Requirements: Details of required registrations under Malaysian law
6. Schedule 6 - Form of Power of Attorney: Standard form of power of attorney for enforcement purposes
7. Appendix A - Asset Valuation Methodology: Methods for valuing secured assets if required
8. Appendix B - Enforcement Procedures: Detailed procedures for enforcement of security interests
Authors
Security Interest
Secured Obligations
Security Provider
Secured Party
Default Event
Enforcement Date
Security Period
Business Day
Facility Agreement
Secured Amount
Charge
Encumbrance
Security Documents
Potential Default
Power of Attorney
Register
Malaysian Ringgit
Permitted Security Interest
Material Adverse Effect
Security Agent
Enforcement Notice
Disposal
Insurance Policy
Receiver
Security Period
Registration Authority
Perfection Requirements
Release Date
Secured Liabilities
Enforcement Rights
Security Trust
Priority Agreement
Guarantee
Controlling Party
Authorisation
Companies Act
Security Assignment
Proceeds
Remedy Period
Perfection of Security
Representations and Warranties
Covenants
Events of Default
Enforcement Rights
Priority
Further Assurance
Power of Attorney
Registration
Insurance
Maintenance of Security
Assignment
Notices
Remedies
Governing Law
Jurisdiction
Indemnification
Confidentiality
Severability
Amendments
Entire Agreement
Counterparts
Costs and Expenses
Set-off Rights
No Waiver
Currency
Release and Discharge
Stamp Duty
Third Party Rights
Banking and Financial Services
Real Estate
Manufacturing
Trading and Commerce
Construction
Agriculture
Technology and Software
Energy and Resources
Healthcare
Transportation and Logistics
Retail
Professional Services
Legal
Finance
Risk Management
Compliance
Corporate Secretarial
Credit Administration
Treasury
Corporate Banking
Documentation
Operations
Legal Counsel
Corporate Lawyer
Finance Manager
Credit Risk Manager
Compliance Officer
Company Secretary
Chief Financial Officer
Transaction Manager
Security Trustee Officer
Loan Officer
Corporate Banking Manager
Risk Assessment Officer
Legal Documentation Specialist
Financial Controller
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