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The Deposit Pledge Agreement is a crucial security document used in UAE financing transactions where bank deposits serve as collateral. This agreement is commonly employed in various commercial contexts, including project finance, corporate lending, and real estate transactions, where a lender requires security over cash deposits. The document must comply with UAE Federal Law No. 20 of 2016 and related regulations, particularly regarding perfection requirements and enforcement mechanisms. The agreement typically includes detailed provisions on the identification of pledged deposits, maintenance obligations, restriction on withdrawals, and enforcement procedures. It is essential for establishing a valid security interest over deposits under UAE law and often forms part of a broader security package in financing transactions.

1. Parties: Identification of the Pledgor (deposit owner), Pledgee (beneficiary of the pledge), and the Account Bank (where applicable)

2. Background: Context of the pledge arrangement, reference to any underlying facility or main agreement, and purpose of the pledge

3. Definitions and Interpretation: Key terms used in the agreement, including 'Pledged Deposits', 'Secured Obligations', 'Security Period', and interpretation rules

4. Creation of Pledge: Express creation of the pledge over the deposits, scope of the security interest, and confirmation of compliance with UAE law requirements

5. Perfection and Registration: Requirements for registering the pledge, including any Emirates Movable Collateral Registry requirements

6. Representations and Warranties: Standard representations regarding ownership, authority, and absence of other encumbrances over the deposits

7. Covenants: Ongoing obligations regarding the pledged deposits, including maintenance of minimum balances and restrictions on withdrawals

8. Enforcement: Rights and procedures for enforcing the pledge upon an event of default, including UAE law requirements for enforcement

9. Power of Attorney: Grant of powers to the Pledgee to perfect and enforce the pledge

10. Notices: Communication procedures between parties

11. Governing Law and Jurisdiction: Confirmation of UAE law governance and jurisdiction of UAE courts