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Business Security Agreement
"Need a Business Security Agreement to secure a S$5 million equipment loan from DBS Bank, with the security to be granted over our manufacturing equipment and inventory located in our Singapore facility, to be effective from March 2025."
1. Parties: Identification of the secured party and the debtor
2. Background: Context of the security arrangement and underlying obligations
3. Definitions: Key terms used throughout the agreement including references to relevant Singapore legislation
4. Grant of Security Interest: Description of the security interest being created in accordance with Singapore law
5. Description of Collateral: Detailed description of the assets subject to the security interest
6. Secured Obligations: Description of the obligations being secured under the agreement
7. Representations and Warranties: Statements of fact by the debtor regarding the collateral and authority
8. Covenants: Ongoing obligations of the debtor including compliance with Singapore law
9. Events of Default: Circumstances triggering enforcement rights
10. Enforcement Rights: Rights and remedies upon default in accordance with Singapore law
1. Insurance Requirements: Specific insurance obligations for the collateral when required
2. Third Party Rights: Rights of third parties in relation to the collateral and compliance with Singapore third-party rights legislation
3. Cross-Default Provisions: Provisions linking defaults under other agreements when multiple agreements are interconnected
1. Schedule of Collateral: Detailed listing and description of all secured assets
2. Form of Notice: Template notices for third parties regarding the security interest
3. Priority Arrangements: Details of ranking among different security interests when multiple security interests exist
4. Existing Encumbrances: List of pre-existing security interests or encumbrances on the collateral
Authors
Collateral
Security Interest
Security Period
Event of Default
Secured Party
Debtor
Business Day
Charged Assets
Encumbrance
Secured Liabilities
Enforcement Event
Permitted Security Interest
Security Documents
Related Rights
Security Assets
Guarantor
Material Adverse Effect
Secured Indebtedness
Perfection Requirements
Priority Agreement
Quasi-Security
Receiver
Secured Parties' Rights
Security Period
Transaction Documents
Law
Intellectual Property Rights
Relevant Documents
Disposal
Financial Indebtedness
Security Representative
Working Capital Assets
Floating Charge
Fixed Charge
Permitted Disposal
Security Agent
Security Provider
Representations and Warranties
Covenants
Negative Pledges
Further Assurance
Events of Default
Enforcement
Power of Attorney
Remedies
Indemnification
Insurance
Maintenance of Collateral
Perfection Requirements
Priority
Assignment and Transfer
Confidentiality
Notices
Costs and Expenses
Amendments and Waivers
Severability
Governing Law
Jurisdiction
Counterparts
Set-off Rights
Registration
Information Rights
Disposal Restrictions
Release of Security
Continuing Security
Third Party Rights
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