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Liquidation Agreement regarding Debtor's Collateral in Satisfaction...

South Dakota Liquidation Agreement regarding Debtor's Collateral in Satisfaction of Indebtedness

Category:

Loans and Lending - Default

State:

Multi-State

Control #:

US-00769BG

Format:

Instant download

Description

This form deals with a situation where a Lender and Debtor have previously entered into a Promissory Note and Security Agreement and the Debtor has defaulted under the Note and Security Agreement for failure to make timely payments. Pursuant to this Agreement, Lender has agreed to forbear for a limited time from immediately enforcing its rights against the Collateral to permit the Debtor a short period of time to repay the debt and liquidate the Collateral.

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