Debenture: multi-chargor—syndicated—specific monies—for use with a syndicated facilities agreement
Debenture: multi-chargor—syndicated—specific monies—for use with a syndicated facilities agreement

The following Banking & Finance precedent provides comprehensive and up to date legal information covering:

  • Debenture: multi-chargor—syndicated—specific monies—for use with a syndicated facilities agreement
  • Recitals:
  • 1 Definitions and interpretation
  • 2 Covenant to pay
  • 3 Security Agent
  • 4 Fixed and floating security
  • 5 Crystallisation of floating charge
  • 6 Representations and warranties
  • 7 Undertakings
  • 8 Shares and Investments: voting rights and dividends
  • More...

This Deed is made on [insert day and month] 20[insert year]

Parties

  1. 1

    THE COMPANIES identified in Schedule 1 (each a Chargor and together the Chargors); and

  1. 2

    [insert name of Security Agent] as security agent and trustee for the Finance Parties on the terms and conditions set out in the [Facilities Agreement OR Intercreditor Agreement OR Security Trust Deed] (the Security Agent).

Recitals:

    1. (A)

      The Finance Parties have agreed to make available loan facilities on the terms and conditions set out in the Facilities Agreement (as defined below).

    1. (B)

      It is a condition precedent to the availability of the loan facilities that each Chargor enter into this Deed for the purpose of providing security in favour of the Security Agent in respect of the Secured Obligations (as defined below).

IT IS AGREED as follows:

    1. 1

      Definitions and interpretation

      1. 1.1

        Definitions

        In this Deed, unless otherwise provided:

        [Additional Chargor

        1. means a member of the Group which becomes an Additional Chargor in accordance with Clause 28 (Accession of an Additional Chargor);]

        [Blocked Bank Account

        1. means each bank account designated as a ‘Blocked Bank Account’ with:

          1. (a)

            account number [insert account number] and sort code [insert sort code] and maintained by [insert the name of the Chargor holding this Blocked Bank Account] with [the Security Agent OR [insert name of third-party bank]] (and any replacement account or subdivision or subaccount of that account)

          2. (b)

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