What is a collateral statement?

Collateral Statement means a statement furnished by a Sublicensee or Affiliate stating each type of Licensed Product, the aggregate amount of the Affiliate's or Sublicensee's (as the case may be) gross sales and net sales of the same, and the aggregate amount of returns of and allowances for such products, for a given ...

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Sample Letter for General and Absolute Release

Sample Letter Release Contract With Collateral Pdf In North Carolina

Category:

Letters - Releases - General

State:

Multi-State

Control #:

US-0035LTR

Format:

Instant download

Description

The Sample Letter Release Contract with Collateral PDF in North Carolina serves as a formal document to finalize the release of obligations between parties. This letter includes vital components, such as the original General and Absolute Release, ensuring that both parties retain copies for their records. It emphasizes the importance of storing the original document securely and provides a Judgment of Dismissal with Prejudice for additional clarity on the matter. The form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it streamlines the process of concluding legal agreements, while providing a template that can easily be customized to fit the specifics of individual cases. Users will find clear filling and editing instructions throughout the form, ensuring that it is accessible to those with varying degrees of legal experience. This document not only facilitates legal processes but also enhances communication among involved parties. By adhering to best practices in legal documentation, it promotes transparency and trust between users.

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FAQ

Collateral Letter means that certain letter agreement, dated as of the Closing Date, by and among the Borrower, Holdings, each Person that was a Lender or an Issuer on the Closing Date and the Administrative Agent relating to certain Enforcement Actions with respect to the Collateral, as amended pursuant to Section ...

Collateral Statement means a statement furnished by a Sublicensee or Affiliate stating each type of Licensed Product, the aggregate amount of the Affiliate's or Sublicensee's (as the case may be) gross sales and net sales of the same, and the aggregate amount of returns of and allowances for such products, for a given ...

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.

Unlike a payoff letter that terminates all security interests in connection with the repayment and satisfaction of obligations under a credit facility, this collateral release letter removes collateral support, but leaves a credit facility intact as an unsecured facility.

Suppose you agree to rent an apartment. The lease agreement you sign with the landlord is the main contract. However, your landlord promises to fix the toilet drainage. Therefore, this is the collateral contract.

Collateral form (plural collateral forms) (linguistics) A synonymous but not identical, coexisting form (variation) of a word, such as an accepted alternative spelling.

Non-Transferable Assets: Assets that are legally restricted from being transferred, such as government benefits, social security payments, or certain insurance policies, cannot be used as collateral since they cannot be seized or sold.