There is no longer a requirement to dedicate hours searching for legal documents to meet your local state requirements.
US Legal Forms has compiled all of them in a single location and improved their availability.
Our platform provides over 85k templates for various business and personal legal situations categorized by state and area of application.
Completing formal paperwork in accordance with federal and state regulations is quick and straightforward with our platform. Experience US Legal Forms today to organize your documentation!
If a loan agreement includes collateral, it means that the borrower has agreed to pledge certain assets as security for the loan. In the event the borrower defaults and does not uphold his or her agreement to repay the loan amount plus interest, the lender gets to keep the pledged collateral.
For example, if X agrees to buy goods from Y that will, accordingly, be manufactured by Z, and does so on the strength of Z's assurance as to the high quality of the goods, X and Z may be held to have made a collateral contract consisting of Z's promise of quality given in consideration of X's promise to enter into the
How To Create a Collateral Contract YourselfNames, contact information, and addresses of all parties.Terms and conditions of the collateral contract.Indication of a promissory note.Duties and responsibilities assigned to each party.The effective date of the agreement.More items...
Collateral Assignment of Contracts means the assignment of representations, warranties, covenants, indemnities and rights to the Agent, in respect of the Loan Parties' rights under that certain Escrow Agreement executed in connection with the Riverstone Acquisition delivered on the Original Closing Date.
Examples of collateral documents are a security agreement, guarantee and collateral agreement, pledge agreement, deposit account control agreement, securities account control agreement, mortgage, and UCC-1s.