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Share Pledge Agreement for Indonesia

Share Pledge Agreement Template for Indonesia

A Share Pledge Agreement under Indonesian law is a security document where shares in an Indonesian company are pledged as collateral for a debt or other obligations. The agreement must comply with Indonesian Civil Code requirements and relevant OJK regulations, particularly regarding perfection and enforcement. The document establishes the terms of the security interest, including the pledgor's obligations, maintenance of the pledge, voting rights, dividend treatments, and enforcement mechanisms. It requires specific formalities under Indonesian law, including potential notarization and dual-language requirements.

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What is a Share Pledge Agreement?

A Share Pledge Agreement is a crucial security document used in Indonesian financing transactions where shares in an Indonesian company serve as collateral. This document is commonly used in corporate lending, acquisition financing, and project finance transactions. It details the creation and maintenance of the security interest over shares, compliance with Indonesian regulatory requirements, and enforcement procedures. The agreement must address specific Indonesian law considerations, including language requirements, notarization, and registration with relevant authorities. It's essential for securing lender interests while ensuring compliance with Indonesian Company Law and Financial Services Authority (OJK) regulations. The document typically includes provisions for voting rights, dividend treatment, and enforcement mechanisms in case of default.

What sections should be included in a Share Pledge Agreement?

1. Parties: Identification of the Pledgor (shareholder), Pledgee (security taker), and the Company whose shares are being pledged

2. Background: Context of the pledge, reference to the underlying debt obligation being secured

3. Definitions and Interpretation: Key terms used in the agreement, including specific Indonesian law terms

4. Creation of Pledge: Express terms creating the security interest over the shares

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

6. Pledgor's Representations and Warranties: Statements regarding ownership, authority, and absence of encumbrances

7. Pledgor's Covenants: Ongoing obligations of the pledgor regarding the pledged shares

8. Rights and Obligations During Pledge Period: Treatment of dividends, voting rights, and other shareholder rights during the pledge period

9. Events of Default: Circumstances triggering enforcement rights

10. Enforcement: Process and rights for enforcing the pledge under Indonesian law

11. Power of Attorney: Irrevocable power of attorney for pledge enforcement

12. Continuing Security: Provisions ensuring the pledge remains effective until obligations are fully discharged

13. Notices: Communication requirements and contact details

14. Governing Law and Jurisdiction: Specification of Indonesian law and jurisdiction

15. Language: Dual language requirements under Indonesian law and prevailing version

What sections are optional to include in a Share Pledge Agreement?

1. Further Assurance: Additional actions pledgor must take to perfect or protect the security - include if regulatory filings or additional documentation may be needed

2. Tax Provisions: Include if specific tax implications need to be addressed

3. Company Acknowledgment: Include if the company whose shares are being pledged needs to be a party to acknowledge the pledge

4. Security Agent Provisions: Include if the pledge is being taken by a security agent on behalf of multiple beneficiaries

5. Costs and Expenses: Include if there are significant costs associated with maintaining or enforcing the pledge

6. Amendments to Constitutional Documents: Include if company's articles need modification to accommodate the pledge

What schedules should be included in a Share Pledge Agreement?

1. Details of Pledged Shares: Schedule listing the number, class, and details of shares being pledged

2. Form of Notice of Pledge: Template for notifying the company of the pledge

3. Form of Power of Attorney: Template for the irrevocable power of attorney for enforcement

4. Pledge Registration Form: Form required for registration with relevant Indonesian authorities

5. Specimen Share Certificate Annotation: Required annotation text for share certificates

6. Form of Acknowledgment: Template for company acknowledgment of the pledge

Authors

Alex Denne

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

Jurisdiction

Indonesia

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions






































Clauses


























Relevant Industries

Banking

Financial Services

Private Equity

Investment Management

Corporate Finance

Real Estate

Infrastructure

Manufacturing

Technology

Energy

Mining

Telecommunications

Relevant Teams

Legal

Finance

Corporate Secretarial

Compliance

Risk Management

Treasury

Investment

Corporate Development

Operations

Credit

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Director

Chief Financial Officer

Investment Manager

Corporate Secretary

Compliance Officer

Risk Manager

Transaction Manager

Security Trustee

Loan Officer

Investment Banker

Private Equity Manager

Director of Operations

General Counsel

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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