Hypothec on Movables

About this template:

In general anyone who is the owner of the movable property can charge that property with this hypothec. Looking for a moveable hypothec promissory note? If you're not even sure what means but you like the sound of it read more here. [https://en.wikipedia.org/wiki/Hypothec] and https://www.lawinsider.com/dictionary/movable-hypothec. a movable hypothec is created when the debtor delivers the property to the creditor. See many other finance and accounting documents which you can use in your business here https://www.templateguru.co.za/templates/finance-accounting/ See many other finance and accounting documents which you can use in your business here https://www.templateguru.co.za/templates/finance-accounting/

Excerpt:

As general and continuing collateral security for the performance by the Grantors of the Obligations not otherwise secured by the hypothecs created under the terms of Section 2.1 including without limiting the generality of the foregoing interest on all overdue interest as well as the costs and expenses incurred by the Creditor in order to preserve or realise upon the Liens created and to be created from time to time under the terms hereof and all other costs and expenses related to the Obligations each of the Grantors hereby hypothecates the Hypothecated Property to and in favour of the Creditor to the extent of an additional sum of [AMOUNT] with interest thereon at the rate of [PERCENTAGE %] per annum.

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