This agreement of movable hypothec without delivery template has 10 pages and is a MS Word file type listed under our production & operations documents.
Sample of our agreement of movable hypothec without delivery template:
AGREEMENT OF MOVABLE HYPOTHEC WITHOUT DELIVERY This Agreement of Movable Hypothec Without Delivery (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Purchaser"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the "Seller"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] 1. INTERPRETATION DEFINITIONS The following terms and expressions, wherever used in these presents or in any deed or agreement supplemental or ancillary thereto, unless there be something in the subject or the context inconsistent therewith, shall have the following meanings: 1.1 "Contract" means the Sales Contract (including the terms and conditions, warranties, description of buyer's obligations and other schedules annexed thereto) signed by Purchaser on [DATE] and accepted by Seller on [DATE] pursuant to which Seller agreed to sell and Purchaser agreed to purchase the Equipment, and which forms Schedule 1 hereto, as same may be amended, restated, renewed or replaced from time to time; 1.2 "Equipment" means the machinery and equipment purchased by Purchaser from Seller and more fully described in the Contract and the schedules thereto, as reproduced in Schedule 2 hereto. All capitalized terms not otherwise defined herein shall have the meaning assigned thereto in the Contract. The terms of the Contract are incorporated herein by reference and shall prevail in the event of any conflict between the terms hereof and the terms thereof. 2. OBLIGATIONS SECURED The hypothecs hereby constituted secures the performance by Purchaser of all its obligations, direct and indirect, absolute and contingent, presently due and hereafter to become due to Seller pursuant to the Contract (the "Obligations"). Without in any way limiting the generality of the foregoing, the Obligations include the payment by Purchaser to Seller of the purchase price for the Equipment in the amount of [AMOUNT] (the "Purchase Price") plus interest thereon for late payments at the rate of [%] per month or [%] per annum, which amounts shall be payable in accordance with the terms and conditions for payment contained in the Contract and incorporated herein by reference, as same may from time to time be amended or replaced. 3. HYPOTHECS 3.1 As security for the full and final performance of the Obligations, as well as for the payment of interest on overdue interest and the recovery by Seller of all costs and expenses arising from the preservation of the Equipment and the realization of the hypothec created herein, Purchaser hereby grants a movable hypothec without delivery to and in favor of Seller with respect to the Equipment to the extent of [AMOUNT], with interest thereon at the rate of [%] per annum, calculated and payable monthly, with interest on unpaid interest at the same rate and on the same terms. 3.2 As general and continuing collateral security for the performance by Purchaser of the Obligations not otherwise secured by the hypothecs created under the terms of Section 3.1, including, without limiting the generality of the foregoing, interest on all overdue interest, as well as the costs and expenses incurred by Seller in order to preserve or realize upon the Liens created and to be created from time to time under the terms hereof and all other costs and expenses related to the Obligations, Purchaser hereby hypothecates the Hypothecated Property to and in favor of Seller to the extent of an additional sum of [AMOUNT] with interest thereon at the rate of [%] per annum, with interest on overdue interest at the same rate. 4. REPRESENTATIONS AND WARRANTIES Purchaser hereby represents and warrants to Seller that: 4.1.1 Purchaser is a validly organized and subsisting corporation in good standing under the laws of [COUNTR] of its jurisdiction of incorporation, having its head office or domicile situated in [COUNTRY]; Purchaser has the necessary power and capacity to grant the hypothec hereby constituted and to bind and oblige itself as set forth in this agreement; Neither the execution, delivery and performance by Purchaser of this agreement in accordance with its terms, nor the consummation of the transaction contemplated thereby conflicts with or results in a breach of the documents of incorporation or the by-laws of Purchaser or of any provision of any contract or other instrument by which Purchaser is bound; Upon delivery of the Equipment by Seller to Purchaser, pursuant to the Contract, Purchaser alone shall hold the rights of ownership in all of the Equipment, free and clear of all priorities, hypothecs, charges or other rights existing in favor of any person other than Seller; This agreement has been duly authorized by all necessary corporate action on the part of Purchaser and duly executed and delivered by its duly authorized officers such that the obligations which it evidences are in full force and effect and constitute binding obligations of Purchaser; The Equipment shall be located at [ADDRESS], which premises are [owned by/ leased by] Purchaser; 4.1.7 All federal, [state / provincial] and other tax returns of Purchaser have been duly filed and all federal, [state / provincial] and other taxes, assessments and other governmental charges or levies upon Purchaser and any of its property, income, profits and assets, which are due and payable, have been paid. 5. COVENANTS Purchaser hereby covenants and agrees that it will: Not create, assume, incur or suffer to exist, directly or indirectly, any hypothec, priority, charge or any other right whatsoever on the Equipment other than in favor of Seller; Give Seller notice in writing of: any change in the representations and warranties made by Purchaser in Section 4; the name(s) of the insurer(s) who are party to the insurance contract(s) envisaged herein; 5.1.3 Provide Seller with any information, which the latter could reasonably require in relation to the Equipment or in Contract to verify whether Purchaser is respecting its Obligations. Purchaser shall inform Seller of any fact or event, which might have an adverse effect on the value of the Equipment or on Purchaser's financial situation; 5.1.4 At any time and from time to time, permit Seller, its officers, employees and authorized representatives to examine, inspect or evaluate the Equipment and, in this respect, will give Seller, its officers, employees and authorized representatives unrestricted access to the places where the Equipment is located; 5.1.5 Perform all acts and things and execute all documents as may be necessary to ensure that this hypothec remains effective and at all times opposable to third parties. Purchaser shall in particular execute at the request of Seller a timely notice of renewal hereof; 5.1.6 Pay, upon demand, all fees and expenses including legal, notarial and professional fees incurred from time to time by or on behalf of Seller in connection with the negotiation, preparation, delivery, publication, amendment, renewal and discharge of this agreement and in connection with the enforcement of any of Seller's rights hereunder or the recovery or conservation of the Equipment, including without limitation all costs and expenses of maintenance, operation, administration, conservation and/or collection of the Equipment and reasonable compensation for any person or firm engaged, employed or consulted by or on behalf of Seller to act in connection with the maintenance, operation, administration, conservation and or collection of any of the Equipment; 5.1
