Share Mortgage Agreement

Share Mortgage Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

I need a Share Mortgage Agreement under UAE law for a private limited liability company, where ABC Bank will take security over 60% of the company's shares as collateral for a term loan facility closing on March 15, 2025, with the document requiring Shariah compliance.

Document background

The Share Mortgage Agreement is a crucial security document used in the United Arab Emirates when shares in a UAE company are provided as collateral for financial obligations. This agreement is particularly relevant in corporate financing transactions, including acquisition finance, term loans, and general corporate facilities. The document must comply with UAE Federal Law No. 32 of 2021 and related regulations, including specific requirements for share mortgages in different types of UAE companies. The agreement typically includes detailed provisions regarding the creation and perfection of the security interest, voting rights, dividends, and enforcement mechanisms. For listed companies, additional requirements under UAE Securities and Commodities Authority regulations must be addressed. The Share Mortgage Agreement is essential for both conventional and Islamic finance transactions in the UAE market.

Suggested Sections

1. Parties: Identifies the Mortgagor (share owner), Mortgagee (security taker), and the Company whose shares are being mortgaged

2. Background: Sets out the context of the agreement, including reference to any underlying facility or principal agreement

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles

4. Creation of Mortgage: Details the creation and nature of the security interest over the shares

5. Secured Obligations: Specifies the obligations being secured by the share mortgage

6. Representations and Warranties: Mortgagor's confirmations regarding ownership, authority, and absence of encumbrances

7. Covenants: Ongoing obligations of the Mortgagor regarding the mortgaged shares

8. Rights and Obligations: Details voting rights, dividends, and other shareholder rights during the mortgage period

9. Events of Default: Circumstances constituting default under the agreement

10. Enforcement: Procedures and rights for enforcing the security interest following default

11. Power of Attorney: Appointment of the Mortgagee as attorney for specific purposes

12. Notices: Communication requirements and contact details

13. Governing Law and Jurisdiction: Specifies UAE law as governing law and relevant courts

Optional Sections

1. Regulatory Compliance: Required for listed companies or when specific regulatory approvals are needed

2. Multiple Mortgagors: Required when shares are owned by multiple parties

3. Share Transfer Restrictions: Required when there are pre-existing transfer restrictions in shareholders agreements

4. Further Assurance: Optional section for additional cooperation requirements

5. Security Agent Provisions: Required when the security is held by an agent for multiple beneficiaries

6. Islamic Finance Provisions: Required when the transaction needs to be Shariah-compliant

Suggested Schedules

1. Schedule 1 - Share Details: Details of the mortgaged shares including share certificate numbers and shareholding percentage

2. Schedule 2 - Form of Register of Mortgage: Template for recording the mortgage in the company's register

3. Schedule 3 - Notice to Company: Form of notice to be sent to the company regarding the share mortgage

4. Schedule 4 - Company Acknowledgment: Form of company's acknowledgment of the share mortgage

5. Schedule 5 - Share Certificates: Copies of relevant share certificates

6. Schedule 6 - Regulatory Forms: Any required regulatory forms for registration of the mortgage

7. Schedule 7 - Powers of Attorney: Forms of any required powers of attorney

8. Appendix A - Principal Agreement Details: Summary of the underlying facility or agreement being secured

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking

Financial Services

Investment Banking

Corporate Finance

Private Equity

Asset Management

Legal Services

Islamic Finance

Corporate Services

Business Services

Relevant Teams

Legal

Finance

Corporate Finance

Compliance

Risk Management

Company Secretarial

Credit

Transaction Management

Securities Services

Islamic Banking

Relevant Roles

Chief Financial Officer

Legal Counsel

Corporate Lawyer

Finance Manager

Investment Manager

Compliance Officer

Company Secretary

Transaction Manager

Security Trustee

Banking Relationship Manager

Credit Risk Manager

Corporate Finance Director

Islamic Finance Specialist

Due Diligence Officer

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