Alaska General Security Agreement granting secured party secured interest

State:
Multi-State
Control #:
US-EG-9496
Format:
Word; 
Rich Text
Instant download

Description

General Security Agreement between U.S. Wireless Data, Inc. and ComVest Capital Management, LLC regarding granting secured party secured interest dated December 30, 1999. 18 pages.
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  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest
  • Preview General Security Agreement granting secured party secured interest

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FAQ

The security agreement must: be signed (or authenticated) by the debtor and the owner of the property, contain a description of the collateral and. make it clear that a security interest is intended.

There are three requirements for attachment: (1) the secured party gives value; (2) the debtor has rights in the collateral or the power to transfer rights in it to the secured party; (3) the parties have a security agreement ?authenticated? (signed) by the debtor, or the creditor has possession of the collateral.

Security Documents means the Security Agreement, the Mortgages, the Intellectual Property Security Agreement, the Pledge Agreement, the Facility Guarantee, and each other security agreement or other instrument or document executed and delivered pursuant to this Agreement or any other Loan Document that creates a Lien ...

Secured party is a lender, seller, or other person in whose favor a security interest exists. Debtor is the person who owes payment or performance of the obligation that is secured. Security agreement is the agreement between the secured party and the debtor that creates or provides for a security interest.

At a minimum, a valid security agreement consists of a description of the collateral, a statement of the intention of providing security interest, and signatures from all parties involved. Most security agreements, however, go beyond these basic requirements.

Creating a security agreement Some key provisions in a security agreement include: Describing the collateral as accurately and as detailed as possible, so both the borrower and the lender agree upon the secured property. How to determine whether and when the borrower is in default under the loan.

You give the lender this right when you sign your closing forms. The document granting the security interest can be called by different names, but the most common names are "Mortgage" or "Deed of Trust."

List out the specific responsibilities of each party to the contract. Specifically define what ??providing a secure environment?? means. Outline expectations for maintaining confidentiality. Clarify how any potential security breaches will be addressed. Make sure to include language that is legally binding.

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Alaska General Security Agreement granting secured party secured interest