Strict Foreclosure Agreement

The independence of the board of directors ensures that the borrower takes serious account of the lender`s willingness to implement the means of seizure against strict receivership. The statutes of the State for limited liability companies, partnerships and limited liability companies impose a specific result, unless they are expressly annulled by the relevant documents of the company (for example.B. contract of enterprise, social contract or instrument of incorporation or statute). For example, under Delaware law, economic rights are generally transferable unless prohibited by the company agreement. However, the transfer of control rights, such as . B voting rights are in principle prohibited, unless the company agreement so permits. A well-developed deposit agreement allows an insured party, as a secured creditor, not only to sell the equity stakes, but also, before such a seizure, to vote on the interest on mortgaged equity after a default, with prior or simultaneous notification of the borrower and the storyteller. . . .