Common use of Governing Law and Jurisdiction of Security Clause in Contracts

Governing Law and Jurisdiction of Security. (a) All security (other than share security) will be governed by the law of, and secure only assets located in, the jurisdiction of incorporation of the applicable grantor of the security (or in relation to any structural intra-group receivables only, the governing law of such intra-group receivable loan document). (b) Share security over any subsidiary will be governed by the law of the place of incorporation of that subsidiary. (c) Except in respect of share security and security in respect of intellectual property, no action in relation to security (including any perfection step, further assurance step, filing or registration) will be required in jurisdictions where the grantor of the security is not incorporated.

Governing Law and Jurisdiction of Security. (a) All security (other than share security) will be governed by the law of, and secure only assets located in, the jurisdiction of incorporation of the applicable grantor of the security (or in relation to any structural intra-group receivables only, the governing law of such intra-group receivable receivables loan document). (b) Share security over any subsidiary will be governed by the law of the place of incorporation of that subsidiary. (c) Except in respect of share security and security in respect of intellectual property, no action in relation to security (including any perfection step, further assurance step, filing or registration) will be required in jurisdictions where the grantor of the security is not incorporated.