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General Security Agreement Template for Austria

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Key Requirements PROMPT example:

General Security Agreement

"I need a General Security Agreement under Austrian law for my manufacturing company's 鈧5 million loan facility closing on March 15, 2025, where we're providing our equipment and machinery as collateral to ABC Bank."

Document background
The General Security Agreement is a fundamental document in secured lending transactions under Austrian law, typically used when a lender requires security over a borrower's assets to secure financial obligations. It creates a comprehensive security package that may include various types of assets such as inventory, receivables, equipment, and intellectual property. The agreement must comply with Austrian legal requirements, particularly the ABGB (Austrian Civil Code) and UGB (Austrian Enterprise Code), for creating and perfecting security interests. It is commonly used in corporate financing, asset-based lending, and project finance transactions where Austrian assets are involved or Austrian entities are the security providers. The document includes detailed provisions on the creation, perfection, and enforcement of security interests, ensuring compliance with Austrian security and enforcement laws.
Suggested Sections

1. Parties: Identification of the secured party (creditor) and the grantor (debtor), including full legal names and addresses

2. Background: Context of the security agreement, reference to any underlying credit or facility agreements

3. Definitions: Definitions of key terms used throughout the agreement, including specific Austrian legal terminology

4. Grant of Security Interest: The formal creation and grant of the security interest over the collateral

5. Description of Secured Obligations: Detailed description of the obligations being secured, including principal debt, interest, and other amounts

6. Description of Collateral: Comprehensive description of the assets subject to the security interest

7. Representations and Warranties: Grantor's confirmations regarding ownership, authority, and status of collateral

8. Perfection Requirements: Steps required to perfect the security interest under Austrian law

9. Maintenance of Collateral: Grantor's obligations regarding maintenance and preservation of the collateral

10. Events of Default: Circumstances constituting default under the agreement

11. Enforcement Rights: Secured party's rights and remedies upon default, compliant with Austrian enforcement law

12. Notices: Requirements for giving notices under the agreement

13. Governing Law and Jurisdiction: Confirmation of Austrian law as governing law and jurisdiction of Austrian courts

Optional Sections

1. Third Party Rights: Required when collateral may be subject to third party rights or claims

2. Insurance Requirements: Include when specific insurance coverage for collateral is required

3. Further Assurance: Include when additional documentation or actions may be needed in the future

4. Cross-Border Provisions: Required when the collateral or parties are in multiple jurisdictions

5. Release Provisions: Include when specific conditions for release of security need to be detailed

6. Priority Arrangements: Required when there are multiple security interests or creditors

7. Tax Provisions: Include when specific tax implications need to be addressed

Suggested Schedules

1. Schedule 1 - Collateral Description: Detailed itemization and description of all assets subject to the security interest

2. Schedule 2 - Permitted Security Interests: List of pre-existing or permitted security interests over the collateral

3. Schedule 3 - Perfection Requirements: Specific steps and documentation required for perfection under Austrian law

4. Schedule 4 - Form of Notice: Template notices for third parties regarding the security interest

5. Appendix A - Filing Forms: Required forms for registration of the security interest with relevant authorities

6. Appendix B - Property Locations: List of locations where tangible collateral is kept

7. Appendix C - Related Agreements: List and copies of related credit or facility agreements

Authors

Alex Denne

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

Relevant legal definitions








































Clauses






























Relevant Industries

Banking

Financial Services

Manufacturing

Real Estate

Technology

Retail

Construction

Energy

Infrastructure

Agriculture

Healthcare

Transportation

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Credit Administration

Corporate Secretariat

Banking Operations

Security Administration

Documentation

Relevant Roles

Chief Financial Officer

Legal Counsel

Finance Director

Credit Manager

Risk Manager

Corporate Treasurer

Commercial Director

Security Trustee

Loan Officer

Compliance Officer

Corporate Secretary

Managing Director

Finance Manager

Legal Director

Banking Relationship Manager

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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