This movable hypothec long form template has 14 pages and is a MS Word file type listed under our finance & accounting documents.
Sample of our movable hypothec long form template:
MOVEABLE HYPOTHEC This Moveable Hypothec (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Grantor"), 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 "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 HAVE AGREED AND DECLARED 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: "Claims" shall have the meaning ascribed to it in subsection 2.1.3; "Creditors" means [COMPANY NAME] 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 and from time to time; "Default" means any one of the events specified in Section 6.1, 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 6.1; "Grantor" means [YOUR COMPANY NAME] and includes any successor thereto; "Hypothecated Property" shall have the meaning ascribed to it in Section 2.1; "Inventory" shall have the meaning ascribed to it in subsection 2.1.4; "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 of such property, 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, 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 interest 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 purposes thereof, but not in respect of the borrowing of money or the obtaining of credit, and which in the aggregate do not affect in a material manner the use of or the income or profits derived from the property encumbered thereby in the course of the business of the person; "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 Grantor whether such obligations result or not from agreements or arrangements between the Grantor and the Creditor or from agreements or arrangements with third parties, pursuant to which the Creditor may in any manner whatsoever become a creditor of the Grantor, or in any other manner whether the Grantor is bound alone or with others as principal or guarantor, including, without limiting the generality of the foregoing, the License Agreement dated [DATE] between [SPECIFY] (a predecessor in title to the Creditor) and the Grantor (the "Contract") whereby the Grantor was granted a franchise to operate a [COMPANY NAME] [FULL ADDRESS] [STATE/PROVINCE] (the "Premises") and the Acknowledgement of Indebtedness dated [DATE] between the Creditor and the Grantor (the "Acknowledgement"); "Permitted Encumbrances" means, as at any time, any one or more of the following: The Liens resulting from: Moveable Hypothec granted in favor of the [SPECIFY] registered under number [NUMBER] in the Register of Personal and Moveable Real Rights; Moveable Hypothec granted in favor of the [SPECIFY] registered under number [NUMBER] in the Register of Personal and Moveable Real Rights; Commercial Pledge granted in favor of the [SPECIFY] registered under number [NUMBER] in the Index of Names at the Registry Office for the Registration Division of [STATE/PROVINCE]; Commercial Pledge granted in favor of the [SPECIFY] registered under number [NUMBER] in the Index of Names at the Registry Office for the Registration Division of [STATE/PROVINCE]; Commercial Pledge granted in favor of the [SPECIFY] registered under number [NUMBER] in the Index of Names at the Registry Office for the Registration Division of [STATE/PROVINCE]; Trust Deed of Hypothec, Mortgage and Pledge registered under number [NUMBER] in the Index of Names at the Registry Office for the Registration Division of [STATE/PROVINCE]. The Liens resulting from this Deed or which are specifically authorized by this Deed; any other Lien created or permitted with the written consent of the Creditor. 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 Grantor of the Obligations, the Grantor hereby hypothecates to and in favor of the Creditor, the following 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 of the leasehold improvements, equipment, machinery, tools, motor vehicles, additions, appliances and accessories now owned or held or at any time hereafter acquired or held by the Grantor, wheresoever situate, including without limitation, the leasehold improvements and equipment located in the Premises, together with all the rents, income, fruits, revenues, issues and profits arising therefrom and the present and continuing right to claim for, collect and receive any one and all of the said rents, income, fruits, revenues, issues and profits; all of the rights, titles and interests of the Grantor in, to and under the Memorandum of Agreement of Sublet dated [DATE] between [NUMBER] [COMPANY NAME] [SPECIFY] and the Grantor and the Memorandum of Agreement of Lease dated [DATE] between [NUMBER] [COMPANY NAME] [SPECIFY] in respect of the Premises and all renewals thereof together with the present and continuing right to make a claim thereunder and to enforce or cause the enforcement of all of the said rights, titles and interests of the Grantor;
