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Account Pledge Agreement

Account Pledge Agreement Template for Malaysia

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Key Requirements PROMPT example:

Account Pledge Agreement

"I need a Malaysian law Account Pledge Agreement for a renewable energy project where multiple operational accounts will be pledged to a syndicate of lenders, with the security agent being HSBC Malaysia."

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Document background
The Account Pledge Agreement is a crucial security document used in Malaysian financing transactions where lenders require security over a borrower's bank accounts. This agreement is particularly common in project finance, corporate lending, and structured finance transactions where cash flow control is essential. The document complies with Malaysian law requirements, including the Financial Services Act 2013 and Contracts Act 1950, and typically forms part of a larger security package. It contains detailed provisions on account operation, enforcement rights, and notice requirements to the account bank, while addressing specific Malaysian law considerations regarding security creation and perfection. The agreement is essential for transactions where lenders need control over cash flows and require a direct security interest in the borrower's accounts.
Suggested Sections

1. Parties: Identifies the pledgor, pledgee (security agent/lender), and account bank

2. Background: Sets out the context of the underlying facility and purpose of the pledge

3. Definitions and Interpretation: Defines key terms and interpretation principles

4. Creation of Pledge: Legal provisions creating the security interest over the accounts

5. Perfection and Further Assurance: Requirements for perfecting the security and maintaining its validity

6. Representations and Warranties: Pledgor's confirmations regarding authority, ownership, and capacity

7. Operation of Accounts: Rules governing account operation, withdrawals, and restrictions

8. Rights and Obligations of the Parties: Specific duties of pledgor, pledgee, and account bank

9. Events of Default: Circumstances triggering enforcement rights

10. Enforcement: Rights and procedures for enforcing the pledge

11. Power of Attorney: Appointment of pledgee as attorney for enforcement purposes

12. Notices: Communication requirements and contact details

13. Assignment and Transfer: Rules regarding transfer of rights under the agreement

14. Governing Law and Jurisdiction: Choice of Malaysian law and jurisdiction provisions

Optional Sections

1. Security Agent Provisions: Required when the pledge is held by a security agent for multiple lenders

2. Currency Provisions: Required for accounts in multiple currencies or currency conversion rights

3. Tax Provisions: Detailed tax provisions if significant tax implications exist

4. Account Bank Rights and Obligations: Detailed provisions if the account bank is a party to the agreement

5. Interface with Other Security: Required when the pledge is part of a larger security package

6. Corporate Authorizations: Additional provisions required for corporate pledgors

Suggested Schedules

1. Schedule 1 - Account Details: List and details of all pledged accounts

2. Schedule 2 - Form of Notice to Account Bank: Template notice to perfect the pledge with the account bank

3. Schedule 3 - Form of Acknowledgment: Template acknowledgment from account bank

4. Schedule 4 - Authorized Signatories: List of persons authorized to operate the accounts

5. Schedule 5 - Conditions for Withdrawals: Detailed conditions and procedures for account withdrawals

6. Schedule 6 - Security Agent Details: Details of security agent and secured parties if applicable

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions






























Clauses
























Relevant Industries

Banking and Financial Services

Corporate Lending

Project Finance

Real Estate Development

Infrastructure

Manufacturing

Energy and Resources

Trading and Commerce

Construction

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Corporate Banking

Project Finance

Transaction Management

Credit Administration

Security Administration

Relevant Roles

Legal Counsel

Finance Manager

Treasury Manager

Credit Risk Manager

Security Trustee

Facility Agent

Transaction Manager

Compliance Officer

Banking Relationship Manager

Project Finance Manager

Corporate Finance Director

Security Administrator

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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