This deed of movable hypothec template has 8 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our deed of movable hypothec template:
DEED OF MOVABLE HYPOTHEC This Deed of Movable Hypothec (the "Agreement") is effective [DATE], BETWEEN: [FIRST PARTY NAME] (the "First Party"), 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: [SECOND PARTY NAME] (the "Second Party"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] THEREFORE, PARTIES AGREE WITH EACH OTHER AS FOLLOWS: INTERPRETATION Definitions The following words and expressions, whenever used in this Deed or in any deed, document or agreement supplemental or ancillary hereto, unless there be something in the subject or the context inconsistent therewith, shall have the following meanings: "Asset Purchase Agreement" means that certain asset purchase agreement entered into with effective date of [DATE] between [COMPANY NAME], as Purchaser, and the Secured Party, as Seller, as same may be amended, supplemented or restated at any time; "Company" means [COMPANY NAME] located in [STATE/PROVINCE], [COUNTRY] and includes any successor thereto; "Deed of Hypothec", "this Deed", "this Deed of Hypothec", "these presents", "herein", "hereby", "hereunder" and other similar expressions refer collectively to this Deed of Hypothec, its accompanying schedules as well as any and every deed or other instrument which is supplementary or ancillary hereto or in implementation hereof, the whole as same may be amended, supplemented or restated at any time; "Event of Default" shall have the meaning ascribed to it in Section 5.1; "Future Shares" means all of the shares in the capital stock of [COMPANY NAME] issued from time to time after the date hereof in favour or for the benefit of the Grantor or acquired by the Grantor, whether directly or indirectly, beneficially or otherwise, together with the renewals thereof, the substitutions therefor, accretions and additions thereto and all income and fruits thereof as well as the redemption price of any such shares and all certificates and instruments evidencing or representing such shares; "Grantor" means [SPECIFY] and includes any successor thereof; "Law" means all applicable provisions of statutes, ordinances, decrees, orders in council, rules, regulations, orders of governmental authorities, treaties and all applicable orders and decrees of courts and arbitrators; "Lien" means any interest in property or assets, or the income or profit therefrom, securing an obligation owed to, or a claim by, a Person other than the owner (which for the purposes hereof shall include a possessor under a title retention agreement and a lessee under a lease herein below described) of such property, whether such interest is based on common law, civil [YOUR COUNTRY LAW], statute or contract, and including, but not limited to, any security interest, hypothec, mortgage, pledge, lien, claim, charge, cession, transfer, assignment, encumbrance, title retention agreement, lessor's interest under a lease which would be capitalized on a balance sheet of the owner of such property or analogous instrument in, of, or on any property or on the income or profits therefrom of a Person, other than Liens incurred in the ordinary course of business and for the purpose of carrying on same not in connection with the borrowing of money or the obtaining of credit and which do not in the aggregate materially impair the use, the income or profits therefrom or the property covered thereby in the operation of such Person's business; "Obligations" means the due and punctual payment by [COMPANY NAME] to the Secured Party of the "Balance of Sale" (as defined in the Asset Purchase Agreement) in principal and interest, in accordance with the terms of the Asset Purchase Agreement; "Person" means any legal or natural person, corporation, firm, joint venture, partnership, whether general, limited or undeclared, trust, association, unincorporated organization, governmental authority or other entity of whatever nature; "Present Shares" means all of the shares in the capital stock of [COMPANY NAME] presently owned or held by the Grantor, whether directly or indirectly, beneficially or otherwise, together with the renewals thereof, the substitutions therefore, accretions and additions thereto and all income and fruits thereof as well as the redemption price of any such shares and all certificates and instruments evidencing or representing such shares; "Proceeding" shall have the meaning ascribed to it in subsection [SPECIFY]; "Secured Party" means [COMPANY NAME] and includes any successor or assign thereof; "Shares" means the Present Shares and the Future Shares. Plural and Masculine Unless there be something in the subject or the context inconsistent therewith, words importing the singular only shall include the plural and vice versa and words importing the masculine gender shall include the feminine gender and vice versa. Division in Articles The division of this Deed into Articles, Sections, subsections and paragraphs and the insertion of titles are for convenience of reference only and do not affect the meaning or the interpretation of the present Deed. Governing Law This Deed and the interpretation and enforcement thereof shall be governed by and in accordance with the [YOUR COUNTRY ACT/LAW/RULE] of the [STATE/PROVINCE]. HYPOTHECS Principal Hypothec As a general and continuing collateral security for the performance by [COMPANY NAME] of the Obligations, the Grantor hereby pledges and hypothecates the Shares to and in favor of the Secured Party, to the extent of the sum of [AMOUNT] with interest thereon at the rate of [PERCENTAGE %] per annum. Additional Hypothec As general and continuing collateral security for the performance of the Obligations not otherwise secured by the hypothecs created under the terms of Section 2.1, including, without limiting the generality of the foregoing, interest on all overdue interest, as well as the costs and expenses incurred by the Secured Party 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, the Grantor hereby pledges and hypothecates the Shares in favor of the Secured Party to the extent of an additional sum of [AMOUNT], in lawful money of [COUNTRY], with interest thereon at the rate of [PERCENTAGE %] per annum. PROVISIONS RELATING TO THE SHARES Delivery and Registration of the Present Shares Concurrently with the execution of these presents, the Grantor shall deliver to the Secured Party the certificates and instruments representing the Present Shares, duly endorsed in blank for transfer and the Grantor hereby expressly undertakes to exert all reasonable efforts in order to ensure that (y) any transfer of such Present Shares further to the exercise by the Secured Party of its rights and recourses under these presents or under any [YOUR COUNTRY LAW] be duly recorded in the appropriate registers of [COMPANY NAME] and (z) [COMPANY NAME] issue the appropriate certificates and instruments duly registered in the name of any assignee of such transfer in place of the certificates and instruments initially endorsed and representing such transferred Present Shares. Delivery and Registration of the Future Shares
