Delaware General Security Agreement granting secured party secured interest

• Category: Corporations - Public - Security
• State: Multi-State
• Control #: US-EG-9496
• Format: Word; Rich Text

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. Delaware General Security Agreement, also known as GSA, is a legal contract that grants a secured party a secured interest in personal property owned by a debtor. This agreement ensures the protection of the secured party's rights and gives them the ability to seize and sell the collateral in case of default or non-payment. The Delaware General Security Agreement outlines the terms and conditions of the security interest, including the description of the collateral, obligations of the debtor, and the rights of the secured party. The agreement is commonly used by lenders, financial institutions, and businesses when providing loans or extending credit to borrowers. Keywords: Delaware General Security Agreement, GSA, secured party, secured interest, personal property, collateral, debtor, default, non-payment, terms and conditions, lender, financial institutions, loans, credit, borrowers. There are different types of Delaware General Security Agreement granting secured party secured interest, depending on the nature and purpose of the transaction. Some common variations include: 1. Business Loan Security Agreement: This type of GSA is used when a business borrows funds from a lender, and the lender requires collateral to secure the loan. The agreement specifies the collateral provided by the business, such as equipment, inventory, accounts receivable, or real estate. 2. Equipment Financing Security Agreement: In situations where a company needs financing specifically for purchasing or leasing equipment, this GSA is formulated. The agreement details the equipment being financed and establishes the secured party's interest in the equipment until the loan is repaid. 3. Debenture or Bond Security Agreement: When a company issues debentures or bonds to raise capital, this GSA is employed to secure the lenders' interests. It specifies the collateral, which can include assets like real estate, intellectual property, or other valuable assets belonging to the company. 4. Inventory Financing Security Agreement: This GSA is utilized when a business needs financing based on its inventory. The agreement grants secured party secured interest in the inventory, allowing them to seize and sell it if the borrower fails to repay the loan or meet other obligations. 5. Accounts Receivable Security Agreement: In cases where a company relies on its outstanding accounts receivable as collateral for a loan or credit, this GSA is used. It establishes the secured party's interest in the accounts receivable until the debt is repaid. Each type of Delaware General Security Agreement grants the secured party secured interest over specific assets as collateral, ensuring the protection of the lender's rights in case of default or non-payment.

Delaware General Security Agreement, also known as GSA, is a legal contract that grants a secured party a secured interest in personal property owned by a debtor. This agreement ensures the protection of the secured party's rights and gives them the ability to seize and sell the collateral in case of default or non-payment. The Delaware General Security Agreement outlines the terms and conditions of the security interest, including the description of the collateral, obligations of the debtor, and the rights of the secured party. The agreement is commonly used by lenders, financial institutions, and businesses when providing loans or extending credit to borrowers. Keywords: Delaware General Security Agreement, GSA, secured party, secured interest, personal property, collateral, debtor, default, non-payment, terms and conditions, lender, financial institutions, loans, credit, borrowers. There are different types of Delaware General Security Agreement granting secured party secured interest, depending on the nature and purpose of the transaction. Some common variations include: 1. Business Loan Security Agreement: This type of GSA is used when a business borrows funds from a lender, and the lender requires collateral to secure the loan. The agreement specifies the collateral provided by the business, such as equipment, inventory, accounts receivable, or real estate. 2. Equipment Financing Security Agreement: In situations where a company needs financing specifically for purchasing or leasing equipment, this GSA is formulated. The agreement details the equipment being financed and establishes the secured party's interest in the equipment until the loan is repaid. 3. Debenture or Bond Security Agreement: When a company issues debentures or bonds to raise capital, this GSA is employed to secure the lenders' interests. It specifies the collateral, which can include assets like real estate, intellectual property, or other valuable assets belonging to the company. 4. Inventory Financing Security Agreement: This GSA is utilized when a business needs financing based on its inventory. The agreement grants secured party secured interest in the inventory, allowing them to seize and sell it if the borrower fails to repay the loan or meet other obligations. 5. Accounts Receivable Security Agreement: In cases where a company relies on its outstanding accounts receivable as collateral for a loan or credit, this GSA is used. It establishes the secured party's interest in the accounts receivable until the debt is repaid. Each type of Delaware General Security Agreement grants the secured party secured interest over specific assets as collateral, ensuring the protection of the lender's rights in case of default or non-payment.