Assignment of insurance policies: single company assignor—bilateral—specific monies

Published by a ³ÉÈËÓ°Òô Banking & Finance expert
Precedents

Assignment of insurance policies: single company assignor—bilateral—specific monies

Published by a ³ÉÈËÓ°Òô Banking & Finance expert

Precedents
imgtext

This Deed is made on [insert day and month] 20[insert year]

Parties

  1. 1

    [insert name of Assignor], a Company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Assignor); and

  1. 2

    [insert name of Lender] of [insert address] (the Lender).

Recitals:

    1. (A)

      The Lender has agreed to make available a loan facility to the Assignor on the terms and conditions set out in the Facility Agreement (as defined below).

    1. (B)

      It is a condition precedent to the availability of the loan facility that the Assignor enter into this Deed for the purpose of providing security in favour of the Lender in respect of the Secured Obligations (as defined below).

It is agreed as follows:

    1. 1

      Definitions and interpretation

      1. 1.1

        Definitions

        In this Deed, unless otherwise provided:

        Facility Agreement

        1. •

          means the facility agreement entered into on [the date of this Deed OR [insert date]] between the Assignor as borrower and the Lender as lender;

        Insurance Policies

        1. •

          means each of the insurance policies specified in Schedule 1 (Insurance Policies) and any insurance policies

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Key definition:
Assignment definition
What does Assignment mean?

An assignment is 'an immediate transfer of an existing proprietary right, vested or contingent from one party to another'. Assignments can occur by consent or by operation of law.

Popular documents