Assignment Of Security Agreement for the Netherlands

Assignment Of Security Agreement Template for Netherlands

A Dutch law-governed Assignment of Security Agreement is a formal legal document that facilitates the transfer of security rights from one party (the Assignor) to another party (the Assignee). This document is structured in accordance with the requirements of the Dutch Civil Code (Burgerlijk Wetboek), particularly Books 3 and 6, and includes provisions for the transfer of all associated rights, obligations, and enforcement powers related to the security interest. The agreement must comply with Dutch formality requirements, including potential notarial execution and registration obligations, depending on the type of security being transferred.

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What is a Assignment Of Security Agreement?

The Assignment Of Security Agreement is a crucial document used in Dutch financial and corporate transactions when security rights need to be transferred between parties. This typically occurs in scenarios such as loan portfolio sales, refinancing arrangements, corporate restructurings, or when lenders wish to transfer their security positions to other financial institutions. The document must comply with Dutch law requirements, particularly those set out in the Dutch Civil Code (Burgerlijk Wetboek) regarding the assignment of rights and transfer of security interests. It includes detailed provisions about the security being transferred, representations about the validity of the security, and necessary steps for perfecting the assignment. Depending on the type of security involved, additional requirements such as notarization or registration in public registers may apply.

What sections should be included in a Assignment Of Security Agreement?

1. Parties: Identification of the Assignor (current security holder), Assignee (new security holder), and where relevant, the Debtor

2. Background: Context of the original security agreement, reason for assignment, and reference to the underlying secured obligations

3. Definitions: Definitions of key terms used in the agreement, including 'Security Agreement', 'Secured Obligations', 'Security Rights', and 'Effective Date'

4. Assignment: Core provision detailing the assignment of rights and obligations under the security agreement from Assignor to Assignee

5. Consideration: Details of any payment or other consideration for the assignment

6. Representations and Warranties: Assignor's warranties regarding ownership, validity of security interest, no prior assignments, etc.

7. Further Assurance: Obligations to execute additional documents or take further actions to perfect the assignment

8. Notices: Process for serving notices to relevant parties

9. Governing Law and Jurisdiction: Specification of Dutch law as governing law and jurisdiction for disputes

What sections are optional to include in a Assignment Of Security Agreement?

1. Debtor Consent: Required when the underlying security agreement or law requires debtor consent for assignment

2. Registration Requirements: Include when the security interest requires registration in public registers

3. Partial Assignment: Include when only part of the security rights are being assigned

4. Security Agent Provisions: Required when the assignment involves a security agent or trustee structure

5. Tax Provisions: Include when the assignment has specific tax implications requiring addressing

6. Costs and Expenses: Optional section detailing responsibility for costs of assignment and registration

What schedules should be included in a Assignment Of Security Agreement?

1. Original Security Agreement: Copy of the security agreement being assigned

2. Details of Secured Assets: Description or list of assets subject to the security interest

3. Secured Obligations: Details of the underlying obligations secured by the security agreement

4. Form of Notice to Debtor: Template for notifying debtor of the assignment (if required)

5. Registration Forms: Forms required for registering the assignment in relevant registers

6. Powers of Attorney: If required for executing registration or further documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Netherlands

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions
Relevant Industries

Banking & Financial Services

Real Estate

Corporate Finance

Asset Management

Investment Banking

Insurance

Private Equity

Manufacturing

Energy & Infrastructure

Commercial Property

Agriculture

Relevant Teams

Legal

Finance

Compliance

Risk Management

Treasury

Corporate Secretariat

Credit Administration

Transaction Management

Portfolio Management

Securities Administration

Relevant Roles

Legal Counsel

Finance Director

Security Trustee

Corporate Lawyer

Compliance Officer

Risk Manager

Transaction Manager

Credit Manager

Portfolio Manager

Corporate Secretary

Banking Lawyer

Security Agent

Finance Manager

Treasury Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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