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Account Pledge Agreement
"Need an Account Pledge Agreement under Singapore law for a syndicated loan facility where multiple operating accounts at DBS Bank will be pledged as security, with the security agent acting as pledgee on behalf of a syndicate of five banks by March 2025."
1. Parties: Identification of pledgor, pledgee, and any other relevant parties
2. Background: Context of the pledge arrangement and underlying relationship
3. Definitions and Interpretation: Key terms used in the agreement including 'Pledged Account', 'Secured Obligations'
4. Creation of Pledge: Legal provisions establishing the security interest over the account
5. Perfection Requirements: Steps required to perfect the security interest
6. Representations and Warranties: Standard pledgor representations regarding authority, ownership, and no encumbrances
7. Covenants: Ongoing obligations of the pledgor regarding the account
8. Events of Default: Circumstances triggering enforcement rights
9. Enforcement: Rights and procedures for enforcing the security
1. Account Bank Provisions: Specific provisions relating to the account bank's rights and obligations when account bank is party to the agreement
2. Interest Provisions: Treatment of interest earned on the account when interest-bearing accounts are pledged
3. Currency Provisions: Handling of multiple currencies when account contains multiple currencies
1. Account Details Schedule: Details of pledged accounts including account numbers and banks
2. Form of Notice to Account Bank: Template notice to be sent to account bank regarding the pledge
3. Form of Acknowledgment: Template acknowledgment to be signed by account bank
4. Powers of Attorney: Form of power of attorney for enforcement purposes
Authors
Account Pledge
Business Day
Charged Property
Delegate
Disposal
Enforcement Event
Event of Default
Finance Documents
Financial Indebtedness
Governmental Authority
Insolvency Event
Law
Lien
Losses
Material Adverse Effect
Notice of Pledge
Parties
Permitted Security
Pledge Period
Pledged Accounts
Pledged Assets
Pledgor
Pledgee
Receiver
Secured Obligations
Secured Parties
Security
Security Assets
Security Interest
Security Period
Taxes
Transaction Documents
Perfection of Security
Representations and Warranties
Covenants
Negative Pledge
Control of Account
Events of Default
Enforcement Rights
Payment Provisions
Further Assurance
Power of Attorney
Assignment and Transfer
Notices
Costs and Expenses
Amendments and Waivers
Severability
Counterparts
Governing Law
Jurisdiction
Service of Process
Indemnification
Set-off Rights
Remedies and Waivers
Confidentiality
Third Party Rights
Release of Security
Limitation of Liability
Account Operation
Information Rights
No Waiver
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