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Deed Of Assignment By Way Of Security
"I need a Hong Kong law Deed of Assignment By Way of Security to assign accounts receivable from my manufacturing company to ABC Bank Limited as security for a HKD 10 million term loan facility that will be signed on March 15, 2025."
1. Parties: Identification of the Assignor (security provider) and Assignee (security taker), including full legal names and addresses
2. Background: Recitals explaining the context of the security arrangement, including reference to any underlying facility or loan agreement
3. Definitions and Interpretation: Definitions of key terms used in the deed and interpretation rules
4. Assignment: Core provision creating the assignment of the secured assets as security
5. Secured Obligations: Definition and scope of the obligations being secured by the assignment
6. Representations and Warranties: Assignor's confirmations regarding ownership, capacity, and authority to assign the assets
7. Covenants: Ongoing obligations of the Assignor regarding the secured assets and maintenance of security
8. Power of Attorney: Appointment of the Assignee as attorney to perfect or enforce the security
9. Enforcement: Rights and remedies of the Assignee upon enforcement event
10. Release and Reassignment: Provisions for releasing the security and reassigning assets upon discharge of secured obligations
11. Notices: Process for giving notices under the deed
12. General Provisions: Standard boilerplate provisions including governing law, jurisdiction, and severability
13. Execution: Execution blocks meeting Hong Kong requirements for deeds
1. Further Assurance: Additional obligations to perfect security or execute further documents, used when dealing with complex assets
2. Currency Provisions: Include when secured obligations are in multiple currencies
3. Tax Gross-up: Include when payments under the deed may be subject to withholding tax
4. Assignment and Transfer: Include when the Assignee may want to transfer its rights
5. Security Agent Provisions: Include when security is held by an agent for multiple beneficiaries
6. Registration Requirements: Specific provisions for registration when required by law for particular asset types
7. Insurance: Include when assigned assets require insurance coverage
1. Schedule 1 - Assigned Assets: Detailed description of the assets being assigned as security
2. Schedule 2 - Secured Obligations: Detailed description of the secured obligations
3. Schedule 3 - Form of Notice of Assignment: Template notice to be sent to relevant third parties
4. Schedule 4 - Form of Acknowledgment: Template acknowledgment to be obtained from relevant third parties
5. Schedule 5 - Perfection Requirements: List of specific actions required to perfect the security
6. Schedule 6 - Existing Security Interests: Details of any permitted existing security over the assigned assets
7. Appendix 1 - Related Agreements: Copies or details of related agreements referenced in the deed
Authors
Assignee
Assignor
Assignment
Business Day
Charged Assets
Default Interest
Encumbrance
Enforcement Event
Event of Default
Finance Documents
Financial Indebtedness
Facility Agreement
Governmental Authority
Hong Kong
Law
Losses
Material Adverse Effect
Notice of Assignment
Party/Parties
Perfection Requirements
Permitted Security
Person
Power of Attorney
Receiver
Release Date
Secured Assets
Secured Obligations
Secured Parties
Security
Security Interest
Security Period
Subsidiary
Tax
Transaction Documents
Transfer
Working Hours
Security Creation
Secured Obligations
Representations and Warranties
Covenants
Undertakings
Power of Attorney
Enforcement Rights
Default
Remedies
Further Assurance
Perfection Requirements
Release and Discharge
Payments
Set-off
Currency
Costs and Expenses
Indemnification
Delegation
Assignment and Transfer
Notices
Amendments
Severability
Counterparts
Governing Law
Jurisdiction
Service of Process
Waiver
Confidentiality
Third Party Rights
Execution
Banking and Financial Services
Real Estate
Manufacturing
Trading and Commerce
Infrastructure
Construction
Technology
Telecommunications
Energy
Healthcare
Transportation and Logistics
Professional Services
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Secretarial
Credit
Operations
Commercial
Security Administration
Legal Counsel
Corporate Lawyer
Finance Director
Chief Financial Officer
Risk Manager
Commercial Director
Treasury Manager
Company Secretary
Compliance Officer
Credit Manager
Security Trustee
Loan Officer
Transaction Manager
General Counsel
Senior Legal Counsel
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