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Subordination Deed Of Trust

Subordination Deed Of Trust Template for Ireland

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Key Requirements PROMPT example:

Subordination Deed Of Trust

"I need a Subordination Deed of Trust under Irish law for a real estate development project where a junior lender is subordinating a €5M facility to a senior facility of €20M, with both facilities maturing in March 2025."

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Document background
The Subordination Deed of Trust is a critical document used in complex financing arrangements where multiple creditors exist and a clear hierarchy of debt needs to be established. It is particularly relevant in scenarios involving corporate restructuring, project finance, or significant property developments in Ireland. The document combines elements of trust law, security arrangements, and intercreditor relationships, creating a comprehensive framework for managing different classes of debt. This deed is essential when there's a need to formally subordinate junior debt to senior debt while ensuring proper administration through a trust structure. The document typically includes detailed provisions regarding payment restrictions, enforcement rights, trustee powers, and administrative procedures, all crafted to comply with Irish law requirements and market practice. The trust structure provides additional security and clarity in the subordination arrangement, making it particularly valuable in complex financing scenarios where multiple parties and competing interests are involved.
Suggested Sections

1. Parties: Identification of all parties including Senior Creditor(s), Subordinated Creditor(s), Debtor, and Trustee

2. Background: Recitals explaining the existing debts, security interests, and purpose of the subordination arrangement

3. Definitions and Interpretation: Definitions of key terms including Senior Debt, Subordinated Debt, Enforcement Action, and interpretation clauses

4. Declaration of Trust: Establishment of the trust and appointment of trustee

5. Subordination Provisions: Core provisions establishing the subordination of junior debt to senior debt

6. Trustee Powers and Duties: Detailed powers and responsibilities of the trustee

7. Payment Restrictions: Restrictions on payments of subordinated debt

8. Turnover Provisions: Obligations to turn over unauthorized payments to the trustee

9. Representations and Warranties: Standard representations and warranties from all parties

10. Undertakings: General and specific undertakings by the parties

11. Duration and Release: Term of the deed and conditions for release of obligations

12. Governing Law and Jurisdiction: Confirmation of Irish law governance and jurisdiction

Optional Sections

1. Security Trustee Provisions: Additional provisions when a security trustee structure is used

2. Intercreditor Provisions: Detailed provisions governing relationships between multiple creditors

3. Enforcement Procedures: Specific procedures for enforcement of security interests

4. Amendments and Waivers: Procedures for modifying the deed or waiving provisions

5. Tax Provisions: Specific provisions dealing with tax implications and responsibilities

6. Further Assurance: Obligations to execute additional documents or take further actions

7. Assignment and Transfer: Provisions governing the transfer of rights and obligations

8. Costs and Expenses: Allocation of costs and expenses among parties

Suggested Schedules

1. Schedule 1 - Senior Debt: Details of all senior debt facilities and amounts

2. Schedule 2 - Subordinated Debt: Details of all subordinated debt facilities and amounts

3. Schedule 3 - Existing Security Interests: List and details of all existing security interests

4. Schedule 4 - Form of Accession Deed: Standard form for new parties to accede to the deed

5. Schedule 5 - Notice Requirements: Forms of notices and communication requirements

6. Schedule 6 - Trustee Remuneration: Details of trustee fees and payment arrangements

7. Appendix A - Security Documents: Copies or details of relevant security documents

8. Appendix B - Corporate Authorizations: Copies of relevant corporate approvals and authorizations

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Banking and Financial Services

Real Estate

Commercial Property

Infrastructure

Manufacturing

Construction

Private Equity

Investment Management

Healthcare

Technology

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Corporate Secretariat

Trust Administration

Credit

Commercial

Investment

Relevant Roles

Legal Counsel

Finance Director

Chief Financial Officer

Trust Manager

Corporate Lawyer

Banking Lawyer

Finance Manager

Treasury Manager

Risk Manager

Compliance Officer

Commercial Director

Investment Manager

Corporate Secretary

Security Trustee

Facility Agent

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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