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Cross Collateral Agreement
"Need a Cross Collateral Agreement for a Singapore manufacturing company using its factory equipment and inventory as security for multiple bank facilities from DBS Bank and OCBC, to be executed by March 2025."
1. Parties: Identification of all parties involved in the agreement including lenders, borrowers, and security providers
2. Background: Context and purpose of the cross-collateral arrangement, including reference to existing facilities and security arrangements
3. Definitions: Key terms used throughout the agreement including definitions of Collateral, Secured Obligations, and Events of Default
4. Grant of Security Interest: Details of security interests being created and the manner of their creation across different assets
5. Description of Collateral: Specific description of all assets serving as collateral and their respective security arrangements
6. Secured Obligations: Description of all debts and obligations being secured under the cross-collateral arrangement
7. Representations and Warranties: Statements of fact by the parties regarding ownership, authority, and status of collateral
8. Covenants: Ongoing obligations of the parties including maintenance of collateral and financial covenants
9. Events of Default: Circumstances constituting default under the agreement and their consequences
10. Enforcement Rights: Rights and remedies available to secured parties upon occurrence of an Event of Default
1. Insurance Requirements: Requirements for insuring collateral assets and maintaining insurance coverage
2. Valuation Provisions: Methods and frequency for valuing collateral assets and determining sufficiency of security
3. Cross-Default Provisions: Provisions dealing with impact of defaults under other agreements and cross-acceleration rights
4. Foreign Law Provisions: Provisions dealing with foreign assets and cross-border security arrangements
1. Schedule of Collateral: Detailed list and description of all assets serving as collateral under the agreement
2. Schedule of Secured Obligations: Comprehensive list of all obligations being secured by the cross-collateral arrangement
3. Form of Notice: Template notices for perfection of security interests and enforcement actions
4. Valuation Methodology: Detailed procedures and methods for valuing different types of collateral
5. Security Perfection Requirements: Jurisdiction-specific requirements for perfecting security interests in different types of collateral
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