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1. Parties: Identification of the Secured Party and the Grantor/Debtor, including their full legal names, ACN/ABN if applicable, and addresses
2. Background: Recitals outlining the original Security Agreement details, date of execution, and the parties' intention to terminate the agreement
3. Definitions: Key terms used in the termination agreement, including references to the original Security Agreement, Security Interest, and Secured Property
4. Termination: Clear statement terminating the Security Agreement and releasing all security interests as of the effective date
5. Release of Security Interest: Specific provisions regarding the discharge and release of all security interests, including PPSR registrations
6. Return of Security Documents: Requirements for the return or destruction of original security documents and related instruments
7. Mutual Release: Release of claims and obligations between parties related to the Security Agreement
8. Governing Law: Specification that the termination is governed by Australian law
9. Execution: Formal execution blocks for all parties
1. Outstanding Obligations: Used when there are any remaining payment obligations or conditions that must be met before the termination takes effect
2. Partial Release: Include when only specific assets or security interests are being released while others remain in effect
3. Representations and Warranties: Added when parties need to make specific declarations about their authority to terminate or the status of the security
4. Costs and Expenses: Include when there are specific arrangements about who bears the costs of the termination process
5. Confidentiality: Used when parties wish to maintain confidentiality about the termination or original security arrangements
6. Further Assurance: Include when additional actions may be required after termination to fully effect the release
1. Schedule 1 - Details of Original Security Agreement: List of all relevant details of the original Security Agreement including date, parties, and key terms
2. Schedule 2 - PPSR Registrations: List of all PPSR registration numbers and details to be removed
3. Schedule 3 - Secured Property: Description of all assets and property over which security is being released
4. Appendix A - Form of Release Notice: Template notice for filing with relevant authorities to remove security interests
5. Appendix B - Confirmation of Compliance: Checklist confirming all requirements for termination have been met
Grantor
Security Interest
Original Security Agreement
Secured Property
Secured Obligations
Collateral
PPSA
PPSR
Release Date
Discharge
Effective Date
Security Documents
Secured Money
Registration
Security Trust
Security Trust Deed
Financing Statement
Financing Change Statement
Related Security Interest
Enforcement Rights
Security Provider
Permitted Security Interest
Release Notice
Verification Statement
Authorised Officer
Business Day
Controller
Encumbrance
Governmental Agency
Officer
Power
Representative
Security Release
Termination Certificate
Interpretation
Definitions
Termination
Release of Security Interest
Discharge
PPSR Registration
Return of Documents
Representations and Warranties
Further Assurance
Mutual Release
Outstanding Obligations
Costs and Expenses
Notices
Governing Law
Jurisdiction
Severability
Entire Agreement
Counterparts
Confidentiality
Compliance with Law
Authority
Assignment
Amendment
Waiver
Force Majeure
Survival
Banking and Financial Services
Commercial Real Estate
Manufacturing
Retail
Agriculture
Mining and Resources
Construction
Technology
Healthcare
Transport and Logistics
Legal
Finance
Compliance
Risk Management
Treasury
Corporate Secretariat
Credit Management
Operations
Commercial
Legal Counsel
Corporate Lawyer
Finance Manager
Chief Financial Officer
Credit Manager
Security Trustee
Compliance Officer
Risk Manager
Company Secretary
Commercial Director
Banking Relationship Manager
Treasury Manager
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