A shared collateral pledge agreement is a legal arrangement in which a group of prospective lenders form a consortium to lend funds to a common debtor against a common collateral pledged by the prospective debtor and the value of this collateral may be equal to or greater than the combined value of the funds being availed.
Under this arrangement the consortium of lenders appoint a common lead agent who represents the lenders group in all the transactions and completes all the formalities and legalities in the process of funding. A shared collateral pledge agreement should clearly mention the details of the lenders and the agent appointed by the consortium of the lenders, the details of the collateral being shared by the group, the entity availing the loan, the amount of loan and rate of interest, the purpose of the loan, the repayment period, the penalties in case of default and loan recovery procedure in event of default or failure of the debtor to repay.
Download this USA Attorney made Original Agreement for only $9.99
If you need any alterations or have any queries, please contact us before downloading.