Jurisdiction(s):
United Kingdom

Key definition

Security agent definition

What does Security agent mean? A security agent is the entity appointed in secured and syndicated financings to hold, administer and enforce security for all lenders and other secured creditors through a single point of control. It is not generally defined by statute; it is a contractual label. Documents may call the officeholder a security agent or security trustee, and it will act as agent and/or trustee according to the express terms. Core functions include taking, perfecting, maintaining, releasing and enforcing security interests; entering and managing intercreditor arrangements; receiving enforcement proceeds and applying them under the agreed waterfall; and acting on majority-lender instructions. Usage...

Guarantees and Indemnities in Loan and Facility Agreements: Drafting, Negotiation, Precedents, All-monies/Specific-monies Scope, Waiver of Defences, Undertakings, Execution and Guarantor Considerations (England and Wales)

Published by a LexisNexis Banking & Finance expert

Practice notes

A guarantee may exist as a standalone document or be included within the facility agreement as a guarantee clause. Regardless of the structure selected, the core principles for drafting and negotiating guarantees remain consistent.

Parties

For a separate guarantee, whether entered into as an agreement or executed as a deed, the parties will be:

in a bilateral transaction—the guarantor and the lender, and
in a syndicated transaction—the guarantor and the Security agent acting for the lenders

Where the guarantee is embedded in the facility agreement, each guarantor must also be a party to that agreement alongside the other contracting parties.

Drafting the guarantee

In most cases, the lender’s solicitors will produce the initial draft of the guarantee provisions, whether set out in a separate guarantee or contained within the facility agreement.

Finding a suitable precedent

When selecting an appropriate precedent guarantee, consider:

who is granting the guarantee?—if an individual is providing it, see Practice Note: Key issues in taking a guarantee from an individual in a commercial financing context
how many guarantors there are—see Practice Note: Guarantees from multiple guarantors
whether

...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...