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Receivables Pledge Agreement Template for Ireland

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Key Requirements PROMPT example:

Receivables Pledge Agreement

"I need a Receivables Pledge Agreement under Irish law for a manufacturing company pledging its trade receivables to a syndicate of three banks, with specific provisions for automated collection mechanisms and quarterly reporting requirements."

Document background
The Receivables Pledge Agreement is a crucial security document used in financing transactions where a company wishes to grant security over its receivables (such as trade debts, contract rights, and payment claims) to secure its obligations to a lender or other creditor. This document is particularly important in the Irish jurisdiction, where specific formalities must be observed for creating valid and enforceable security. The agreement must comply with the Companies Act 2014 and other relevant Irish legislation, including registration requirements with the Companies Registration Office. It typically forms part of a larger financing arrangement and may be used alongside other security documents. The document includes detailed provisions on the creation and perfection of the security interest, collection mechanisms, enforcement rights, and representations and warranties regarding the receivables.
Suggested Sections

1. Parties: Identification of the pledgor (security provider) and pledgee (security taker), including registration details

2. Background: Context of the security arrangement, reference to any underlying facility agreement or main transaction

3. Definitions and Interpretation: Definitions of key terms including Receivables, Security Period, Collection Account, and interpretation clauses

4. Creation of Security: Express creation of the security interest over the receivables, including present and future receivables

5. Perfection Requirements: Steps required to perfect the security, including registration and notification requirements

6. Representations and Warranties: Pledgor's representations regarding ownership, capacity, and quality of the receivables

7. Covenants: Ongoing obligations of the pledgor regarding the receivables, including maintenance and collection

8. Collection Rights: Provisions regarding collection of receivables, operation of collection accounts

9. Enforcement: Rights and remedies of the pledgee upon enforcement, including power of sale and collection

10. Further Assurance: Obligation to execute further documents and take additional steps if required

11. Costs and Expenses: Allocation of costs related to preparation, registration, and enforcement

12. Governing Law and Jurisdiction: Confirmation of Irish law as governing law and submission to Irish courts

Optional Sections

1. Intercreditor Provisions: Required when multiple creditors have security over the same receivables

2. Trust Provisions: Needed when the security is held on trust for multiple beneficiaries

3. Bank Accounts: Detailed provisions for collection accounts when specific account arrangements are required

4. Power of Attorney: Optional section granting pledgee power to act on pledgor's behalf in specific circumstances

5. Data Protection: Required when receivables involve personal data of individual debtors

6. Currency Provisions: Needed when receivables are denominated in multiple currencies

7. Tax Gross-up: Required when payments under the receivables may be subject to withholding tax

Suggested Schedules

1. Schedule 1 - Receivables: Detailed list or description of the pledged receivables

2. Schedule 2 - Form of Notice to Debtors: Template notice to be sent to debtors informing them of the security

3. Schedule 3 - Form of Acknowledgment: Template acknowledgment to be signed by debtors

4. Schedule 4 - Collection Account Details: Details of designated collection accounts

5. Schedule 5 - Perfection Requirements: Detailed list of all required perfection steps and filings

6. Schedule 6 - Companies Registration Office Forms: Required registration forms for the Companies Registration Office

7. Appendix 1 - Existing Security: Details of any existing security over the receivables

8. Appendix 2 - Power of Attorney: Form of power of attorney if required

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions













































Clauses































Relevant Industries

Banking and Financial Services

Manufacturing

Wholesale and Distribution

Technology and Software

Professional Services

Healthcare

Construction

Retail

Energy and Utilities

Telecommunications

Transportation and Logistics

Real Estate

Relevant Teams

Legal

Finance

Treasury

Credit

Risk Management

Compliance

Commercial

Company Secretariat

Collections

Business Development

Operations

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Credit Manager

Legal Counsel

Corporate Lawyer

Security Trustee

Relationship Manager

Risk Manager

Collections Manager

Commercial Director

Transaction Manager

Compliance Officer

Company Secretary

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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