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Securities Account Control Agreement

Securities Account Control Agreement Template for India

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Key Requirements PROMPT example:

Securities Account Control Agreement

"I need a Securities Account Control Agreement governed by Indian law for a multinational bank acting as secured party, where the account holder is a domestic IT company pledging their investment portfolio as collateral for a term loan closing on March 15, 2025."

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Document background
A Securities Account Control Agreement is essential in secured lending transactions where securities serve as collateral. This agreement, governed by Indian law, establishes the secured party's control over the securities account, which is crucial for perfecting the security interest under Indian law. It is typically used in conjunction with a security agreement or pledge agreement and complies with requirements under the Securities Contracts (Regulation) Act, 1956, the Depositories Act, 1996, and relevant SEBI regulations. The agreement details the operational mechanics for controlling the account, including the securities intermediary's obligations to follow the secured party's instructions, the account holder's restricted rights, and the procedures for enforcement. It's particularly important in structured finance transactions, secured lending, and other financial arrangements where securities collateral is involved.
Suggested Sections

1. Parties: Identifies and provides details of the Account Holder, Secured Party, and Securities Intermediary

2. Background: Explains the context of the agreement, including reference to any underlying security agreement

3. Definitions: Defines key terms used throughout the agreement

4. Account Control and Security Interest: Establishes the security interest and control rights over the securities account

5. Securities Intermediary's Rights and Obligations: Details the duties and responsibilities of the securities intermediary

6. Account Holder's Rights and Obligations: Specifies permitted activities and restrictions on the account holder

7. Secured Party's Rights and Instructions: Outlines the secured party's control rights and instruction authority

8. Representations and Warranties: Contains standard representations from all parties

9. Notice Requirements: Specifies requirements for valid notices and communications

10. Fees and Expenses: Details fees payable to the securities intermediary and expense allocation

11. Term and Termination: Specifies duration and termination provisions

12. General Provisions: Contains standard boilerplate clauses including governing law, jurisdiction, etc.

Optional Sections

1. Foreign Entity Provisions: Additional provisions required when any party is a foreign entity, including FEMA compliance

2. Multiple Account Provisions: Additional provisions for agreements covering multiple securities accounts

3. Electronic Instructions Protocol: Specific procedures for electronic communications and instructions

4. Priority Arrangements: Provisions dealing with multiple secured parties and priority rights

5. Tax Provisions: Specific tax-related provisions and withholding requirements

6. Force Majeure: Provisions dealing with extraordinary events affecting account operations

7. Special Voting Rights: Provisions regarding voting rights for securities in the account

Suggested Schedules

1. Schedule 1 - Account Details: Details of the securities account(s) covered by the agreement

2. Schedule 2 - Authorized Persons: List of persons authorized to give instructions on behalf of each party

3. Schedule 3 - Form of Instructions: Standard forms for various types of instructions under the agreement

4. Schedule 4 - Fee Schedule: Detailed breakdown of fees and charges

5. Schedule 5 - Notice Details: Contact information for notices to all parties

6. Appendix A - Operating Procedures: Detailed procedures for account operations and control mechanisms

7. Appendix B - Regulatory Confirmations: Required regulatory acknowledgments and confirmations

8. Appendix C - Form of Account Statement: Template for periodic account statements

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
Relevant legal definitions
















































Clauses
































Relevant Industries

Banking

Financial Services

Investment Management

Securities Trading

Corporate Finance

Private Equity

Asset Management

Investment Banking

Corporate Banking

Institutional Lending

Relevant Teams

Legal

Finance

Treasury

Compliance

Operations

Risk Management

Credit

Securities Operations

Relationship Management

Transaction Management

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Manager

Treasury Manager

Compliance Officer

Security Trustee

Collateral Manager

Operations Manager

Account Manager

Risk Manager

Transaction Manager

Securities Operations Officer

Relationship Manager

Credit Officer

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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