This debenture pledge agreement template has 3 pages and is a MS Word file type listed under our finance & accounting documents.
Sample of our debenture pledge agreement template:
DEBENTURE PLEDGE AGREEMENT This Debenture Pledge Agreement (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Company"), 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 "Lender"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] FOR GOOD AND VALUABLE CONSIDERATION, the sufficiency and receipt whereof are hereby acknowledged, the parties hereto have agreed as follows: 1. [YOUR COMPANY NAME] pledges to the Lender the debenture listed in Schedule A hereto (hereinafter referred to as the "Debenture") to be held by the Lender, together with all renewals thereof, substitutions therefore, accretions thereto, and all income therefrom, as general and continuing collateral security and as a pledge for the payment or fulfillment of all of the indebtedness, obligations and liabilities of any kind whatever, present and future, direct or indirect, absolute or contingent, of [YOUR COMPANY NAME] to the Lender (hereinafter collectively referred to as the "Obligations"). 2. In the event [YOUR COMPANY NAME] fails to fulfill any of the Obligations (each of the aforementioned being separately hereinafter called an "Event of Default"), the Lender may enforce payment and realize upon the security of his Debenture, and with respect to the Debenture the Lender may exercise, or cause to be exercised on behalf of the Lender, all the rights and remedies of a debentureholder under that certain trust deed of hypothec, mortgage and pledge bearing formal date of [DATE] executed by [YOUR COMPANY NAME] in favor of [NAME] (the "Trust Deed"), without any control by Company as though the Lender was the absolute owner of the Debenture. 3. All income from the Debenture and the realization of the Debenture, after deduction of all expenses thereof, with interest on such expenses computed at the rate of [%] per annum may be held as security as aforesaid by the Lender and when the Lender deems it desirable so to do, from time to time, may be applied against any of the Obligations as the Lender deems best. 4. Whether or not an Event of Default shall exist under this Pledge Agreement, the Lender shall be considered the owner of the Debenture as regards the Trustee under the Trust Deed for all purposes of the Trust Deed. The Lender is hereby authorized to exercise all rights, remedies, powers, privileges, guarantees and recourses available to a debentureholder under the Trust Deed. 5
