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Collateral Access Agreement
"Need a Collateral Access Agreement for our Singapore warehouse facility where ABC Bank (secured creditor) needs to inspect machinery held as collateral, with specific provisions for 24-hour notice and access limited to business hours starting March 2025."
1. Parties: Identification of all parties to the agreement including the collateral holder, secured party, and debtor
2. Background: Context of the agreement and reference to primary facility/security agreements
3. Definitions: Key terms used throughout the agreement including defined terms from relevant legislation
4. Grant of Access Rights: Specific rights granted for accessing and inspecting collateral, including conditions and restrictions
5. Notice Requirements: Procedures for requesting and granting access, including timing and format requirements
6. Security Interest Acknowledgment: Recognition of existing security interests and priorities under Singapore law
7. Representations and Warranties: Standard representations regarding authority, capacity, and enforceability
8. Term and Termination: Duration of the agreement and circumstances allowing for termination
9. Governing Law and Jurisdiction: Specification of Singapore law as governing law and submission to Singapore courts
1. Insurance Requirements: Provisions regarding insurance of collateral and access to insurance documentation when physical assets are involved
2. Landlord Provisions: Specific provisions relating to landlord rights when collateral is located in leased premises
3. Third Party Rights: Provisions dealing with rights of other secured parties when multiple security interests exist
4. Costs and Expenses: Provisions for allocation of costs related to access and inspection
5. Force Majeure: Provisions dealing with circumstances preventing access due to events beyond parties' control
1. Schedule 1 - Description of Collateral: Detailed description of collateral covered by the agreement
2. Schedule 2 - Form of Access Notice: Template notice for requesting access to collateral
3. Schedule 3 - Priority Arrangements: Details of ranking between different security interests if applicable
4. Schedule 4 - Property Details: Description of premises where collateral is located
5. Schedule 5 - Authorized Representatives: List of persons authorized to request and grant access
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