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1. Parties: Identification of the security provider (Sicherungsgeber) and the security taker (Sicherungsnehmer), including full legal names and addresses
2. Background: Context of the security arrangement, reference to any underlying credit or facility agreement, and the purpose of the security
3. Definitions: Definitions of key terms used throughout the agreement, including specific German legal terminology
4. Creation of Security Interest: Express provisions creating and describing the security interest, including detailed description of the collateral
5. Secured Obligations: Definition and scope of the obligations being secured (gesicherte Forderungen)
6. Perfection Requirements: Steps required to perfect the security interest under German law, including any registration or notification requirements
7. Representations and Warranties: Security provider's confirmations regarding ownership, authority, and absence of encumbrances
8. Obligations of the Security Provider: Ongoing obligations regarding maintenance, insurance, and preservation of the collateral
9. Enforcement: Rights and procedures for enforcing the security interest upon default
10. Release of Security: Conditions and process for releasing the security interest upon satisfaction of secured obligations
11. Governing Law and Jurisdiction: Confirmation of German law as governing law and jurisdiction of German courts
1. Further Assurance: Additional cooperation obligations - particularly relevant for complex security arrangements or where future actions may be needed
2. Power of Attorney: Authorization for the security taker to perfect or enforce the security - include when immediate action might be required
3. Bank Accounts: Specific provisions for bank account pledges - include when bank accounts form part of the security
4. Insurance Provisions: Detailed insurance requirements - include for valuable physical assets
5. Costs and Expenses: Allocation of costs related to creation and maintenance of security - include for complex arrangements
6. Transfer and Assignment: Provisions regarding transferability of rights - include when transferability is anticipated
7. Parallel Debt: Creation of parallel obligations for security agent structures - include in syndicated arrangements
1. Schedule 1 - Description of Collateral: Detailed description and/or list of assets subject to the security interest
2. Schedule 2 - Form of Notice: Template notices required for perfection (e.g., for account pledges or receivables security)
3. Schedule 3 - Form of Acknowledgment: Template acknowledgments from relevant third parties
4. Schedule 4 - Filing and Registration Requirements: List of required filings and registrations for different types of collateral
5. Appendix A - Power of Attorney: Form of power of attorney if required
6. Appendix B - List of Bank Accounts: Details of bank accounts if included in security package
Financial Services
Banking
Real Estate
Manufacturing
Technology
Infrastructure
Energy
Retail
Healthcare
Transportation & Logistics
Construction
Agriculture
Legal
Finance
Treasury
Risk Management
Compliance
Credit
Corporate Finance
Banking
Commercial
Operations
Legal Counsel
Finance Director
Chief Financial Officer
Treasury Manager
Credit Risk Manager
Compliance Officer
Corporate Lawyer
Banking Lawyer
Security Trustee
Loan Officer
Transaction Manager
Commercial Director
General Counsel
Legal Operations Manager
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