Deed of Release: security
Form of Deed of Release of security given by a company
A company (the chargor) may be required to grant security in respect of its obligations under a contract, and in particular a loan agreement. The security could take the form of a charge over specific property of the chargor or a debenture constituting fixed charges and a floating charge over all of the chargor’s assets and undertaking.
Once the secured obligations have been discharged, the charger which has granted security should obtain a formal release of the security from the beneficiary of the security (the chargee).
About this document
This document is a Deed of Release of security given by a corporate charger. It is suitable where the charger is a company incorporated in England and Wales.
- 8 clauses over 2 pages
- Wording for guarantor to be included as a party to the contract
- Guarantee undertakings are given by way of both guarantee and indemnity
- Warranties from the guarantor
- Wording for contract to be executed as a Deed
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