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A security agreement is a document that provides a lender a security interest in a specified asset or property that is pledged as collateral. Security agreements often contain covenants that outline provisions for the advancement of funds, a repayment schedule, or insurance requirements.
Security documents A Security Document is a document containing your confirmation code, name, and flight information, and it confirms that you are holding a reservation. A Security Document may be provided to assist you in passing through a TSA Security Checkpoint. It does not serve as a boarding pass.
Under the UCC, a pledge agreement is a security agreement. The nature of the pledged assets means that a pledge agreement may contain different representations and warranties and covenants than a security agreement over business assets (for example, voting rights).
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.
Security agreements can be used to specify a collateral that is already in possession of the debtor, an intangible collateral or an after-acquired property.