This collateral agreement template is what you need to secure an item of value as collateral for monetary debt. "Eligible Collateral" shall mean any Securities of the types enumerated in the.Each Guarantor agrees that its guarantee hereunder shall continue to be effective or shall be automatically reinstated, as the case may be. Secured Obligations; Sale and Setoff Rights. Letters of credit are generally the most widely used and accepted form because they represent an irrevocable guarantee of payment in a specified amount. A structured guide with worksheets to assist you in the development of your business plan, financial projections, and operating budget. Page 2. Massachusetts. Documents requiring notarized signature will NOT be accepted if the signature is more than three-months old at time of submittal.