Idaho 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. Idaho General Security Agreement is a legal document that establishes a secured party's secured interest in a borrower's collateral. It serves as a written contract between the borrower (the debtor) and the lender (the secured party), ensuring that in the event of default or non-payment, the secured party has the right to seize and sell the collateral to recover their investment. This type of agreement is crucial for lenders to protect their financial interests by establishing a legally binding relationship with the borrower. It outlines the terms and conditions of the loan agreement, including the description of the collateral, repayment terms, interest rates, and the rights and obligations of both parties. The Idaho General Security Agreement granting secured party secured interest can encompass various types, depending on the specific situation and nature of the transaction. These include: 1. Real Estate Security Agreement: This type of security agreement involves real property as collateral for the loan. It outlines the details of the property, such as its location, legal description, and specific conditions that must be met before the lender can enforce their security interest. 2. Chattel Security Agreement: This agreement involves personal property, such as vehicles, equipment, inventory, or other movable assets, as collateral. It provides specific details about the assets and their identification, ensuring the lender's secured interest in these items. 3. Accounts Receivable Security Agreement: This type of agreement relates to the borrower's accounts receivable. It allows the secured party to claim payment from the borrower's customers in the event of non-payment by the borrower, thereby securing the lender's interest. 4. Intellectual Property Security Agreement: In cases where intellectual property, such as patents, trademarks, or copyrights, is used as collateral, this agreement provides the necessary framework to establish the secured party's interest and protect their investment. In Idaho, these agreements are governed by the Uniform Commercial Code (UCC) Article 9, which outlines the rules and regulations related to secured transactions. It is crucial for both parties involved to carefully review and understand the terms of the Idaho General Security Agreement, seeking legal advice if necessary, to ensure compliance with state law and protect their respective rights and interests.

Idaho General Security Agreement is a legal document that establishes a secured party's secured interest in a borrower's collateral. It serves as a written contract between the borrower (the debtor) and the lender (the secured party), ensuring that in the event of default or non-payment, the secured party has the right to seize and sell the collateral to recover their investment. This type of agreement is crucial for lenders to protect their financial interests by establishing a legally binding relationship with the borrower. It outlines the terms and conditions of the loan agreement, including the description of the collateral, repayment terms, interest rates, and the rights and obligations of both parties. The Idaho General Security Agreement granting secured party secured interest can encompass various types, depending on the specific situation and nature of the transaction. These include: 1. Real Estate Security Agreement: This type of security agreement involves real property as collateral for the loan. It outlines the details of the property, such as its location, legal description, and specific conditions that must be met before the lender can enforce their security interest. 2. Chattel Security Agreement: This agreement involves personal property, such as vehicles, equipment, inventory, or other movable assets, as collateral. It provides specific details about the assets and their identification, ensuring the lender's secured interest in these items. 3. Accounts Receivable Security Agreement: This type of agreement relates to the borrower's accounts receivable. It allows the secured party to claim payment from the borrower's customers in the event of non-payment by the borrower, thereby securing the lender's interest. 4. Intellectual Property Security Agreement: In cases where intellectual property, such as patents, trademarks, or copyrights, is used as collateral, this agreement provides the necessary framework to establish the secured party's interest and protect their investment. In Idaho, these agreements are governed by the Uniform Commercial Code (UCC) Article 9, which outlines the rules and regulations related to secured transactions. It is crucial for both parties involved to carefully review and understand the terms of the Idaho General Security Agreement, seeking legal advice if necessary, to ensure compliance with state law and protect their respective rights and interests.