123 this agreement and the rights and obligations of the parties hereto are subject to. Security over certifi cated shares can be created by way of a pledge agreement.
In south africa shares in companies are issued in certifi cated form evidenced by a physical share certifi cate or uncertifi cated form transfer thereof takes place by way of electronic entry in a central securities depository.
Pledge agreement template south africa. A pledge is a type of mortgage of movable property given by a borrower pledgor in favour of a lender pledgee as security for a debt or other obligation. Suitable for both business and personal use. Agreement for such form of alienation of property or assets and shall include a sale donation pledge cession assignment or licence and the words dispose disposition and disposal shall be construed in a like manner provided that the payment of money shall not constitute a disposal.
Authority the cedent hereby authorises the cessionary to notify the debtor of this cession. Thousands of satisfied customers have used agreements online because. It is intended to create a security interest over equity interests and promissory notes owned by the grantors.
Legal documents download south africa legal agreements contracts. The debtor covenants and agrees to take further action and to execute further documents as may be necessary to perfect the mortgage pledge and security interests granted and to vest more completely and assure to the secured party its rights under this agreement in any of the collateral including but not limited to a the execution and. A the terms and conditions of the common terms agreement as though they were set out in full in this agreement and in the case of conflict between the terms of this agreement and the common terms agreement the common terms agreement will prevail.
Our business agreements are drafted in south africa by south africans in terms of south african law. A pledge can be used as security for both tangible and intangible movable property. Cession the cedent hereby cedes transfers and makes over to the cessionary all right title and interest the cedent has in and to the said claim.
Download professionally written contracts and legal agreements from our large library of legal document templates. The pledge assignment and delivery of the collateral pursuant to this agreement will create a valid first priority lien on and a first priority perfected security interest in the collateral pledged by pledgor and the proceeds thereof securing the payment of the obligations. Pledge agreementby practical law finance related content maintained usa nationalfederalthis is a standard form of pledge agreement to be used in connection with a syndicated loan agreement.
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