Kansas 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. A Kansas General Security Agreement granting secured party secured interest is a legally binding document that establishes a creditor's right to seize specified assets from a debtor in the event of default or non-payment. This agreement serves as a type of collateral and ensures that the creditor has a higher chance of recovering their funds in case of insolvency or similar situations. Keywords: Kansas General Security Agreement, secured party, secured interest, creditor, collateral, assets, default, non-payment, insolvency. Kansas General Security Agreement granting secured party secured interest can have different types based on the nature of the assets involved and the specific conditions of the agreement. Some common types are: 1. Real Estate Security Agreement: This type of agreement involves real property like land, buildings, or other fixed assets as collateral. The secured party gains a secured interest in the real estate, allowing them to foreclose on the property if the debtor defaults. 2. Chattel Security Agreement: Chattel refers to movable personal property, excluding real estate, such as vehicles, machinery, or equipment. This agreement grants the secured party a secured interest in these tangible assets and gives them the right to repossess or sell them in case of default. 3. Intellectual Property Security Agreement: This agreement deals with securing intangible assets like patents, trademarks, copyrights, or trade secrets. The secured party holds a secured interest in the intellectual property, allowing them to take action in case of non-payment. 4. Inventory Security Agreement: In this type of agreement, the secured party acquires a secured interest in the debtor's inventory or stock. If the debtor fails to meet their payment obligations, the secured party can seize and sell the inventory to recover their funds. 5. Accounts Receivable Security Agreement: This agreement allows the secured party to gain a secured interest in the debtor's accounts receivable. If the debtor does not meet their payment obligations, the secured party has the right to collect the outstanding payments directly from the debtors. 6. Investment Security Agreement: This type of agreement secures investments such as stocks, bonds, or mutual funds. The secured party holds a secured interest in these assets and can sell or liquidate them if the debtor defaults. These different types of Kansas General Security Agreements offer flexibility to creditors to secure their interests based on the specific assets involved and the nature of the lending arrangement. It is essential for both parties involved to understand and abide by the terms of the agreement to ensure a smooth and legally compliant relationship.

A Kansas General Security Agreement granting secured party secured interest is a legally binding document that establishes a creditor's right to seize specified assets from a debtor in the event of default or non-payment. This agreement serves as a type of collateral and ensures that the creditor has a higher chance of recovering their funds in case of insolvency or similar situations. Keywords: Kansas General Security Agreement, secured party, secured interest, creditor, collateral, assets, default, non-payment, insolvency. Kansas General Security Agreement granting secured party secured interest can have different types based on the nature of the assets involved and the specific conditions of the agreement. Some common types are: 1. Real Estate Security Agreement: This type of agreement involves real property like land, buildings, or other fixed assets as collateral. The secured party gains a secured interest in the real estate, allowing them to foreclose on the property if the debtor defaults. 2. Chattel Security Agreement: Chattel refers to movable personal property, excluding real estate, such as vehicles, machinery, or equipment. This agreement grants the secured party a secured interest in these tangible assets and gives them the right to repossess or sell them in case of default. 3. Intellectual Property Security Agreement: This agreement deals with securing intangible assets like patents, trademarks, copyrights, or trade secrets. The secured party holds a secured interest in the intellectual property, allowing them to take action in case of non-payment. 4. Inventory Security Agreement: In this type of agreement, the secured party acquires a secured interest in the debtor's inventory or stock. If the debtor fails to meet their payment obligations, the secured party can seize and sell the inventory to recover their funds. 5. Accounts Receivable Security Agreement: This agreement allows the secured party to gain a secured interest in the debtor's accounts receivable. If the debtor does not meet their payment obligations, the secured party has the right to collect the outstanding payments directly from the debtors. 6. Investment Security Agreement: This type of agreement secures investments such as stocks, bonds, or mutual funds. The secured party holds a secured interest in these assets and can sell or liquidate them if the debtor defaults. These different types of Kansas General Security Agreements offer flexibility to creditors to secure their interests based on the specific assets involved and the nature of the lending arrangement. It is essential for both parties involved to understand and abide by the terms of the agreement to ensure a smooth and legally compliant relationship.