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First-tier Subsidiary Pledge Agreement

May 13, 2013 by agri in General agreements with 0 Comments
A first tier subsidiary pledge agreement is one in which the borrower borrows money from a lender by providing a first tier subsidiary pledge. The first tier subsidiary is one that has fifty percent of its shareholding in its parent company. The parent company has ownership to the extent of shares held by it in the first tier subsidiary including powers to take decisions on behalf of it. When the parent company acquires a borrowing on the basis of the pledge of the business assets of the first-tier subsidiary then this agreement comes into existence.

Some of the important aspects covered in this first-tier subsidiary pledge agreement are parties to the agreement namely parent and first-tier subsidiary company and their names and registered addresses, name of the company providing finance, amount of finance taken, date of finance disbursal, pledge of securities, registration number of parent company, fees and expenses of the transaction, jurisdiction for legal consequences, release of securities on payment of finance in full etc.

 

First-tier Subsidiary Pledge Agreement

First-tier Subsidiary Pledge Agreement

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