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Security Sharing Agreement
"Need a Security Sharing Agreement for a syndicated loan facility involving three banks and multiple assets in Singapore, with Bank ABC acting as security agent and specific provisions for enforcement during a standstill period of 90 days."
1. Parties: Identification and details of all parties to the security sharing agreement
2. Background: Context, purpose, and commercial rationale for the security sharing arrangement
3. Definitions: Defined terms used throughout the agreement including security assets, enforcement events, and relevant terminology
4. Security Assets: Detailed description of the shared security and collateral covered by the agreement
5. Ranking and Priority: Establishment of priority rights and ranking among secured parties
6. Enforcement Rights: Rights, procedures, and mechanisms for enforcing security interests
7. Distribution of Proceeds: Rules and methodology for allocating enforcement proceeds among parties
8. Representations and Warranties: Standard representations and specific security-related warranties from each party
9. Covenants: Ongoing obligations regarding the security assets and maintenance of priority
10. Termination: Circumstances and procedures for terminating the agreement
1. Intercreditor Provisions: Additional provisions governing relationships between different classes of creditors
2. Standstill Provisions: Terms regarding temporary restrictions on enforcement actions
3. Security Agent Provisions: Appointment, powers, and duties of security agent if applicable
4. Cross-Border Provisions: Special provisions for security assets located in multiple jurisdictions
5. Voting Rights: Procedures for collective decision-making among secured parties
1. Schedule of Security Assets: Comprehensive list and description of all security assets covered by the agreement
2. Form of Accession Deed: Standard form for new parties to accede to the agreement
3. Enforcement Procedures: Detailed step-by-step procedures for security enforcement actions
4. Priority Waterfall: Detailed breakdown of payment and distribution priorities
5. Notice Requirements: Forms and templates for various notices required under the agreement
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