Syndicated assignment of insurance policies: assignor—specific monies for use with a syndicated facilities agreement
Syndicated assignment of insurance policies: assignor—specific monies for use with a syndicated facilities agreement

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

  • Syndicated assignment of insurance policies: assignor—specific monies for use with a syndicated facilities agreement
  • Recitals:
  • 1 Definitions and interpretation
  • 2 Covenant to pay
  • 3 Security Agent
  • 4 Assignment by way of security
  • 5 Representations and warranties
  • 6 Undertakings
  • 7 Perfection of security
  • 8 Further assurance
  • More...

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

Parties

  1. 1

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

        1. means a member of the Group who becomes an Assignor in accordance with Clause 25 (Accession of an Additional Assignor);

        [Deed of Accession

        1. means a deed of accession substantially in the form set out in Schedule 3 (Form of Deed of Accession);]

        Facilities Agreement

        1. means the facilities agreement entered into on [the date of this Deed OR [insert date]] between [(among others) [insert names of borrower[s]] as borrower[s], [[insert names

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