Agreement of Movable Hypothec Without Delivery

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Excerpt:

This Agreement of Movable Hypothec Without Delivery (the Agreement) is effective [DATE]. As security for the full and final performance of the Obligations as well as for the payment of interest on overdue interest and the recovery by Seller of all costs and expenses arising from the preservation of the Equipment and the realisation of the hypothec created herein Purchaser hereby grants a movable hypothec without delivery to and in favour of Seller with respect to the Equipment to the extent of [AMOUNT] with interest thereon at the rate of [%] per annum calculated and payable monthly with interest on unpaid interest at the same rate and on the same terms.

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