The Deposit Pledge Agreement is a crucial security document in Malaysian financial transactions, used when a party needs to provide security over cash deposits to secure their obligations. This agreement type is commonly utilized in various financing arrangements, including loan facilities, bond issuances, and project financing. The document establishes the pledge mechanism, complying with Malaysian legal requirements under the Contracts Act 1950 and Financial Services Act 2013. It details the rights and obligations of the pledgor and pledgee, enforcement mechanisms, and includes necessary notices and acknowledgments from the account bank. The agreement is particularly relevant in situations requiring liquid security and is often preferred by financial institutions due to the relative ease of enforcement compared to other forms of security.
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1. Parties: Identification of the Pledgor, Pledgee, and any other relevant parties
2. Background: Context of the agreement, including reference to any underlying obligations or facilities
3. Definitions and Interpretation: Definitions of key terms and interpretation rules
4. Pledge: Creation and terms of the pledge over the deposit
5. Secured Obligations: Description of the obligations secured by the pledge
6. Representations and Warranties: Standard representations regarding authority, ownership, and capacity
7. Covenants: Ongoing obligations of the Pledgor regarding the pledged deposit
8. Rights and Obligations: Specific rights and obligations of both parties regarding the pledged deposit
9. Events of Default: Circumstances constituting default and triggering enforcement rights
10. Enforcement: Rights and procedures for enforcing the pledge
11. Payments: Terms regarding payments, including interest and fees
12. Notices: Communication procedures between parties
13. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, etc.
1. Security Agent Provisions: Required when a security agent is appointed to hold the pledge on behalf of multiple beneficiaries
2. Bank's Rights: Required when the deposit is held with a third-party bank that needs specific rights or protections
3. Currency Provisions: Required when the deposit is in a foreign currency or multiple currencies
4. Tax Provisions: Required when specific tax implications need to be addressed
5. Regulatory Compliance: Required when specific regulatory requirements need to be addressed
6. Multiple Pledgors: Required when there are multiple parties pledging deposits
1. Details of Deposit Account: Specific details of the pledged deposit account(s) including account numbers and bank details
2. Form of Notice to Bank: Template notice to be sent to the account bank regarding the pledge
3. Form of Bank's Acknowledgment: Template acknowledgment to be obtained from the account bank
4. Conditions Precedent: List of documents and conditions required before the pledge becomes effective
5. Powers of Attorney: Form of power of attorney if required for enforcement
6. Existing Encumbrances: Details of any existing security interests or encumbrances over the deposit
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Relevant Industries
Banking & Financial Services
Corporate Lending
Investment Management
Real Estate
Infrastructure
Manufacturing
Trading & Commerce
Construction
Energy & Resources
Telecommunications
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Secretarial
Credit
Banking Operations
Transaction Management
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Legal Counsel
Corporate Lawyer
Security Trustee
Relationship Manager
Credit Manager
Risk Manager
Compliance Officer
Transaction Manager
Company Secretary
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