Common Contracts
1 similar null contracts
Cession in securitatem debiti agreement templateMay 2nd, 2023
Engen Petroleum Limited (“Engen”) and Windsharp, in January 2009, entered into an Engen Diesel Club agreement. Under such an agreement, Windsharp became indebted to Engen in an amount exceeding R5.5 million by June 2014. As security for the debt Engen and Windsharp concluded two deeds of cession. The first was concluded in April 2012 and the second in April 2014.First DeedClause 1 of the First Deed provided as follows:“The Cedent hereby cedes, transfers and makes over to the Cessionary all the Cedent’s right, title and interest in and to the Debts … as a continuing general covering security for the due performance and discharge of every obligation and indebtedness from whatsoever cause and howsoever arising which the Cedent may now or at any time hereafter have toward the Cessionary;….”Second Deed Clause 1 of the Second Deed was similar to that set out above but added the following provision at the end of the clause:“The Cession hereby granted by the Cedent to the Cessionary includes a
