Quota Pledge Agreement

It is also important that commitments are taken care of: effective 1 September 2007, the rules of the bill of promises of rights have been changed and new rules have been introduced in the Business Registration Act with regard to the creation of quotas. In accordance with the changes made, the commitment of a quota in a Hungarian limited company must be registered in the trade register. Both the consignment judge (i.e. the owner of the business) and the pawnbroker can apply to the court of the register from which the business was registered. The court reviews the application and the deposit agreement to determine, among other things, whether the data from the agreement on the company and its owner are consistent with the trade registry data. The new rules are binding only as part of the quota commitments made after 1 September 2007; However, it may also be desirable to register the agreed commitments before the amendments are introduced. Any registration of the security interest resulting from the commitment made to the Registrar of equivalent companies or companies is usually cancelled by filing a cancellation notification. In addition, a notification must be sent to the company secretary in order to remove the statement of instructions on the mortgaged shares on the list of members of the company. In order to guarantee the applicability and legality of the guarantee created by the action agreement, it may be necessary, in some legal systems, to register the security built up under the share guarantee contract within a specified period following the creation of the security interest with the registrar of companies or equivalent guarantees. Otherwise, the guarantee may be invalidated against a liquidator, director or creditor of the company. Under English law, collateral is effectively the transfer of the holding of an asset by a party (the pfandgor) to the creditor (the holder of the pledge) as collateral, with the ownership of the asset remaining as a pawn. In this article, we focus in particular on collateral in the context of a pledge of shares to guarantee a loan or deferred payment (for example. B in the context of an acquisition of shares), but it should be taken into account that all the goods delivering (including persons with a property, material or intangible) can be expanded.

In addition, the delivery of the asset in question can be real or constructive – for example. B the handing over of the keys to a warehouse where the mortgaged goods are located. As we say, in practice, the promise is rarely used as a security tool in the most established economies, but it can play an important role in specialized transactions or in different legal systems (especially emerging countries). It has always been clear that if the company is taken on security is a company limited by shares, a surety is reasonable; the rules of procedure applicable in this case are clear and clear. However, while the company in question was a limited liability company, some aspects of the proceedings were not yet clear. There was no doubt that a quota commitment (i.e. the sum of the owner`s rights and obligations to the company) should be set.