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Collateral Substitution Agreement
"Need a Collateral Substitution Agreement under Singapore law to replace our existing government bonds with blue-chip corporate shares as collateral for our loan facility, with the substitution to take effect from March 1, 2025."
1. Parties: Identification of contracting parties and their details
2. Background/Recitals: Context of the agreement and reference to original collateral arrangements
3. Definitions: Key terms used throughout the agreement including references to relevant Singapore legislation (Securities and Futures Act, Companies Act, Property Law Act)
4. Substitution Rights: Terms and conditions for collateral substitution, including eligibility criteria and conditions precedent
5. Substitution Process: Procedural requirements for executing substitution, including notice requirements and timing
6. Representations and Warranties: Statements of fact and assurances by parties regarding their authority, ownership and right to substitute collateral
7. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for dispute resolution
1. Valuation Mechanisms: Methods for valuing substitute collateral, to be included when dealing with complex or variable-value collateral
2. Credit Support Provisions: Additional credit support arrangements, required when supplementary credit support is needed
3. Cross-Default Provisions: Provisions linking to other agreements, included when multiple related agreements exist
1. Schedule of Original Collateral: Detailed description and specifications of existing collateral being substituted
2. Schedule of Substitute Collateral: Detailed description and specifications of new collateral being provided
3. Valuation Methodology: Detailed procedures and formulas for valuation of collateral
4. Form of Substitution Notice: Template notice format for formal substitution notifications
Authors
Business Day
Collateral
Original Collateral
Substitute Collateral
Collateral Value
Effective Date
Eligibility Criteria
Event of Default
Existing Security Documents
Market Value
Original Security Agreement
Permitted Substitution
Secured Obligations
Secured Party
Security Interest
Security Period
Substitution Date
Substitution Notice
Substitution Process
Valuation Agent
Valuation Date
Valuation Methodology
Singapore Business Day
Regulatory Requirements
Rating Requirements
Custody Agreement
Security Release Documents
Governing Law
Dispute Resolution
Substitution Rights
Conditions Precedent
Substitution Process
Valuation
Representations and Warranties
Eligibility Criteria
Security Interest
Perfection Requirements
Delivery and Transfer
Notice Requirements
Covenants
Events of Default
Enforcement Rights
Indemnification
Costs and Expenses
Confidentiality
Further Assurance
Assignment and Transfer
Amendments and Waivers
Notices
Severability
Counterparts
Governing Law
Dispute Resolution
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