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Assignment Of Security Agreement
"I need an Assignment of Security Agreement under Indonesian law to transfer a fiduciary security interest over manufacturing equipment from PT Bank Central to PT Finance Corp, with the assignment to take effect from March 15, 2025."
1. Parties: Identification of the Assignor (original security holder), Assignee (new security holder), and Obligor (the party who granted the original security)
2. Background: Recitals explaining the original security agreement, reason for assignment, and context of the transaction
3. Definitions: Definitions of key terms used in the agreement, including reference to the original security agreement and related documents
4. Assignment: Core provision detailing the transfer of rights and obligations under the security agreement
5. Consideration: Details of payment or other consideration for the assignment
6. Representations and Warranties: Statements by the Assignor regarding their authority to assign, validity of security interest, and absence of encumbrances
7. Perfection Requirements: Steps required to perfect the assignment, including registration and notice requirements under Indonesian law
8. Obligations and Undertakings: Ongoing obligations of parties, including cooperation in registration and documentation
9. Costs and Expenses: Allocation of costs related to the assignment and registration
10. Governing Law and Jurisdiction: Confirmation of Indonesian law as governing law and jurisdiction for disputes
11. Execution: Signature blocks and execution requirements
1. Conditions Precedent: Used when the assignment is subject to certain conditions being met before becoming effective
2. Further Assurance: Include when additional documentation or actions may be needed after signing
3. Tax Provisions: Required when there are specific tax implications that need to be addressed
4. Partial Assignment: Include when only part of the security interest is being assigned
5. Notice Requirements: Detailed provisions for notifying third parties, used when specific notice requirements apply
6. Power of Attorney: Include when the Assignee needs authority to complete registration or other formalities
7. Indemnification: Used when specific indemnities are required beyond standard representations and warranties
1. Original Security Agreement: Copy or details of the security agreement being assigned
2. Secured Assets Schedule: Detailed list of assets covered by the security interest
3. Form of Notice: Template for notices to be sent to relevant parties regarding the assignment
4. Registration Requirements: Checklist of registration requirements and forms for different types of security interests
5. Outstanding Amounts: Details of any outstanding secured obligations as of the assignment date
6. Required Consents: List of required third-party consents and their status
7. Power of Attorney Form: Form of power of attorney for registration purposes when required
Authors
Banking and Financial Services
Real Estate and Property Development
Manufacturing
Mining and Natural Resources
Infrastructure Development
Energy and Utilities
Telecommunications
Agriculture and Plantation
Transportation and Logistics
Construction
Industrial Production
Commercial Trading
Legal
Finance
Corporate Secretarial
Risk Management
Compliance
Credit Administration
Banking Operations
Security Administration
Portfolio Management
Transaction Management
Legal Counsel
Corporate Lawyer
Finance Director
Chief Financial Officer
Credit Manager
Risk Manager
Compliance Officer
Security Trustee
Transaction Manager
Corporate Secretary
Legal Manager
Banking Operations Manager
Loan Officer
Security Administrator
Portfolio Manager
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