template

Standard Third Party Legal Charge (Company Securing Specific Liabilities)

by
Genie Team
Genie Team
Sep, 28 2022

When to use this template

A third-party legal mortgage is a type of legal charge that a company grants to a single corporate lender in order to secure specific monies that are owed by another party to the lender. This standard document includes integrated drafting notes that explain the law behind, and commercial reasons for, provisions of the document.

Key issues covered in this template

  • Copy of agreement
  • Insolvency claim
  • Mortgage deed
  • Notice to Lender
  • Payment terms
  • Prohibit actions
  • Property fixtures
  • To take action
  • Trust for Lender
  • VAT option
  • N/A

What to watch out for

  • The document should include a description of the property being mortgaged, as well as the value of the property

  • It should identify the lender and the borrower, and state the specific amount of money being borrowed

  • The document should include all relevant legal information, such as the terms of the loan and the repayment schedule

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Used by

Author

Genie Team

Genie Team

@genieteam
Genie AI

The Genie Team consists of lawyers and paralegals. Our aim is to open source the law and provide high quality, regularly reviewed legal documents.

Additional information

Business categories

Business activities

Contract type

Relevant sectors

Real Estate

Construction

Relevant company sizes

1 - 3

4 - 19

20 - 49

50 - 249

250 - 999

1000 +

Governing law

England and Wales

Language

English UK

Gender neutral

Yes