Deed of release: for a debenture or mortgage—single company security provider—full or partial release

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

  • Deed of release: for a debenture or mortgage—single company security provider—full or partial release
  • Recitals
  • 1 Definitions and interpretation
  • 2 Release and discharge
  • 3 Retention of Rights
  • 4 Governing Law and Jurisdiction
  • The Schedule The Assets

Deed of release: for a debenture or mortgage—single company security provider—full or partial release

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

Parties

  1. 1

    [insert name of Lender], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Lender); and

  1. 2

    [insert name of Chargor] a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Chargor)

Recitals

    1. (A)

      In accordance with a [debenture OR mortgage] dated [insert date] (the [Debenture OR Mortgage]) the Chargor charged the [Charged Property OR Assets] (see below for definitions) in favour of the Lender.

    1. (B)

      [In consideration of payment of the sum of £[insert amount] to the Lender by or on behalf of the Chargor, the Lender has agreed to release the [Charged Property OR Assets] from the [Debenture OR Mortgage].]

The parties agree:

    1. 1

      Definitions and interpretation

      1. 1.1

        Unless otherwise provided the words and expressions in and the interpretation of this Deed shall be as set out in the [Debenture OR Mortgage].

      1. 1.2

        In this Deed:

        Assets

        1. means the assets and property listed in the Schedule

        Charged Property

        1. means all the property, assets and undertaking of the Chargor for the time being subject to the security interests created by the [Debenture OR

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