This hypothec on movables template has 9 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our hypothec on movables template:
HYPOTHEC ON MOVABLES This Hypothec on Movables (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Partnership"), 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 [FIRST GRANTOR NAME] (the "First Grantor"), an individual with his main address located at: [COMPLETE ADDRESS] AND: [SECOND GRANTOR NAME] (the "Second Grantor"), an individual with his main address located at: [COMPLETE ADDRESS] AND: [CREDITOR NAME] (the "Creditor"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHICH PARTIES AGREE WITH EACH OTHER AS FOLLOWS: INTERPRETATION Definitions The capitalized words and expressions 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: "Claims" shall have the meaning ascribed to it in subsection 2.1.2; "Creditor" means [CREDITOR NAME]. and includes any successor or assignee thereof; "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 from time to time; "Default" means any one of the events specified in Section 7.1, the occurrence or failure to occur of which constitutes, or with the passage of time or the giving of notice or both, would constitute an Event of Default; "Event of Default" shall have the meaning ascribed to it in Section 7.1; "Governmental Authority" means any nation or government, any state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government; "Grantors" refers collectively to the Partnership and the Partners; "Hypothecated Property" shall have the meaning ascribed to it in Section 2.1; "Inventory" shall have the meaning ascribed to it in subsection 2.1.1; "Law" means all applicable provisions of statutes, ordinances, decrees, orders in council, rules, regulations, treaties and all applicable determinations, rulings, orders and decrees of Governmental Authorities and arbitrators; "Lien" means any interest in property or the income or profits 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 hereinbelow described) of such property, or claim whether such interest is based on common [YOUR COUNTRY LAW], civil [YOUR COUNTRY LAW], statute or contract, and including, but not limited to, any security interest, hypothec, prior claim, 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 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, of the property covered thereby in the operation of such Person's business; "Obligations" is the collective reference to all the obligations, present and future, direct and indirect, absolute and contingent, presently owing and due or hereafter to become owing and due to the Creditor by the Grantors from time to time, including, without limiting the generality of the foregoing, all their obligations to pay to the Creditor all amounts owing to the Creditor in respect of sales of tire inventory made by it to the Partnership from time to time; "Partners" refers collectively to [NAME], born on [DATE] in [COUNTRY], [STATE/PROVINCE] and residing at [FULL ADDRESS], [STATE/PROVINCE], and [NAME], born on [DATE] in [COUNTRY], [STATE/PROVINCE], and residing at [FULL ADDRESS], [STATE/PROVINCE], in their capacity as partners of the Partnership, and includes any heirs and successors respectively thereof; "Partnership" refers to [COMPANY NAME], a general partnership duly constituted under the [YOUR COUNTRY LAW] of the Province of [STATE/PROVINCE], and includes any successor thereto; "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. 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, and any reference to [AMOUNT] shall mean [COUNTRY] [AMOUNT]. 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. HYPOTHECS Principal Hypothec As a general and continuing collateral security for the performance by the Grantors of the Obligations, each of the Grantors hereby hypothecates to and in favor of the Creditor the following property and its respective rights, titles and interests in and to such property (collectively referred to herein as the "Hypothecated Property") to the extent of the sum of [AMOUNT], with interest thereon at the rate of [PERCENTAGE %] per annum: the universality of all the present and future tires, of whatever make and model, of which the Partnership is now or hereafter may be a wholesale or retail purchaser or shipper or in which it is now or may hereafter be a dealer or seller (collectively referred to herein as the "Inventory") and all rights to the warehouse receipts, bills of lading and other title documents relating to the Inventory; and the universality of all claims, accounts receivable and book debts which now are or may at any time hereafter become vested in the Partnership, of any nature and kind arising pursuant to the sale, transfer, assignment or other disposition of any Inventory, whether or not such claims are certain and determinate, invoiced, liquid, exigible, litigious or constituted by a negotiable or other instrument or draft and including, without limiting the generality of the foregoing, the contracts, guarantees, bills of exchange, notes, Liens, suretyships and accessories connected in any manner whatsoever to or securing the said claims, accounts receivable and book debts, and all the books, accounts, invoices, letters and other documents evidencing the said claims, accounts receivable and book debts, in any manner whatsoever, which now are or may hereafter become vested in the Partnership (collectively referred to herein as the "Claims"). Additional Hypothec As general and continuing collateral security for the performance by the Grantors of the Obligations not otherwise secured by the hypothecs created under the terms of Section 2
