Account Pledge Agreement Template for Belgium

The Account Pledge Agreement is a fundamental security document used in Belgian financing transactions where a lender requires security over a borrower's bank accounts. This document is typically used alongside facility agreements, broader security packages, or as standalone security for specific obligations. The agreement must comply with the Belgian Pledge Act of 2013 and the Financial Collateral Act of 2004, which provide the legal framework for creating and enforcing security interests over financial assets. The document includes crucial details about the pledged accounts, operating mechanisms, enforcement procedures, and perfection requirements, including registration in the National Pledge Register. It's particularly important in corporate lending, project finance, and other secured financing transactions where control over cash flows is essential for the lender's security package.

1. Parties: Identification of the Pledgor(s) and Pledgee(s), including full legal names, registration details, and addresses

2. Background: Context of the pledge agreement, reference to any underlying facility or main agreements, and purpose of the security

3. Definitions and Interpretation: Definitions of key terms used in the agreement and interpretation rules

4. Creation of Pledge: Express creation of the pledge over the account(s), including scope and extent of the security interest

5. Secured Obligations: Definition and scope of the obligations secured by the pledge

6. Perfection Requirements: Steps required to perfect the pledge, including registration requirements under Belgian law

7. Pledgor's Representations and Warranties: Standard representations regarding authority, ownership, and absence of other security interests

8. Pledgor's Undertakings: Ongoing obligations of the pledgor regarding the pledged account(s)

9. Operating Account Provisions: Rules governing operation of the account(s) during the normal course of business

10. Enforcement: Circumstances and procedures for enforcing the pledge, including specific Belgian law requirements

11. Application of Proceeds: Order of application of enforcement proceeds

12. Power of Attorney: Appointment of pledgee as attorney for perfection and enforcement purposes

13. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability

14. Governing Law and Jurisdiction: Confirmation of Belgian law as governing law and jurisdiction of Belgian courts