South Dakota Security Agreement between PCSupport.com, Inc. and ICE Holdings North America Introduction: The South Dakota Security Agreement between PCSupport.com, Inc. and ICE Holdings North America is a legally binding contract that outlines the terms and conditions regarding the security interest held by PCSupport.com, Inc. over certain assets of ICE Holdings North America. This agreement is specific to the state of South Dakota and ensures the protection of PCSupport.com, Inc.'s position in the event of a default or non-payment by ICE Holdings North America. Key Elements of the Agreement: 1. Parties Involved: The agreement is between PCSupport.com, Inc., a technology support company, and ICE Holdings North America, a holding company specializing in various industries. 2. Security Interest: Under this agreement, PCSupport.com, Inc. holds a security interest in certain assets of ICE Holdings North America. This interest grants PCSupport.com, Inc. certain rights and protections to ensure payment and lateralization for the services provided or any outstanding obligations. 3. Description of Collateral: The agreement clearly identifies and describes the collateral that serves as security for PCSupport.com, Inc.'s interest. This may include real estate, machinery, equipment, inventory, accounts receivable, intellectual property, or any other assets agreed upon by both parties. 4. Obligations of ICE Holdings North America: The agreement sets out the specific obligations of ICE Holdings North America regarding the collateralized assets. These obligations generally include timely payments, maintenance of the collateral's value, and appropriate insurance coverage on the assets. 5. Default Provisions: The agreement outlines the events that would constitute a default, such as failure to make timely payments, breach of any other agreement between the parties, bankruptcy, or insolvency. In the event of default, PCSupport.com, Inc. is granted certain rights, including the power to seize, sell, or otherwise dispose of the collateral to satisfy the outstanding obligations. 6. Governing Law: As a South Dakota Security Agreement, it is governed by the laws of South Dakota. Any dispute arising from the agreement would be subject to resolution in South Dakota courts. Types of South Dakota Security Agreement between PCSupport.com, Inc. and ICE Holdings North America: 1. Real Estate Security Agreement: This type of agreement specifically relates to the security interest held by PCSupport.com, Inc. over real estate assets owned by ICE Holdings North America in South Dakota. 2. Equipment Security Agreement: In this agreement, PCSupport.com, Inc. obtains a security interest in the equipment owned by ICE Holdings North America in South Dakota. This ensures that PCSupport.com, Inc. has a claim on the equipment to cover any unpaid debts or obligations. 3. Intellectual Property Security Agreement: This type of agreement pertains to the security interest held by PCSupport.com, Inc. over the intellectual property assets of ICE Holdings North America in South Dakota. It ensures PCSupport.com, Inc.'s protection in case of non-payment or default. 4. Accounts Receivable Security Agreement: This agreement focuses on the security interest held by PCSupport.com, Inc. over the accounts receivable of ICE Holdings North America in South Dakota. It ensures that PCSupport.com, Inc. has a claim on the outstanding payments owed by debtors to ICE Holdings North America. Conclusion: The South Dakota Security Agreement between PCSupport.com, Inc. and ICE Holdings North America is a comprehensive legal contract that outlines the terms, rights, and obligations regarding the security interest held by PCSupport.com, Inc. over certain assets of ICE Holdings North America. By establishing this agreement, both parties can ensure that the interests of PCSupport.com, Inc. are protected in the event of default or non-payment by ICE Holdings North America.
South Dakota Security Agreement between PCSupport.com, Inc. and ICE Holdings North America
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