North Dakota Form of Security Agreement between Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd.

• Category: Corporations - Public - Indebtedness and Financial Restructuring
• State: Multi-State
• Control #: US-CC-6-142
• Format: Word; Rich Text

Description

This form is a Security Agreement under which all real and personal property of corporation are pledged as collateral to secure payment and performance of borrower's obligations under certain promissory notes. North Dakota Form of Security Agreement is a legally binding document that outlines the terms and conditions related to securing a loan or financing agreement between Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. It serves as a means to establish a secured interest in collateral to ensure the repayment of the debt. Keywords: North Dakota, Form of Security Agreement, Everest and Jennings International, Ltd., Everest and Jennings, Inc., BIL, Ltd., loan, financing agreement, collateral, secured interest. A North Dakota Form of Security Agreement typically consists of the following sections: 1. Parties Involved: This section identifies the parties entering into the agreement, which include Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. Their roles and responsibilities are clearly defined. 2. Definitions: This section provides a comprehensive list of key terms and their meanings to establish common understanding throughout the agreement. 3. Collateral Description: Here, the specific collateral being used as security for the loan or financing agreement is described in detail. This may include assets such as real estate, vehicles, inventory, or other valuable items. 4. Grant of Security Interest: This section outlines how Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. grant a security interest in the identified collateral to secure the repayment of the debt. 5. Representations and Warranties: Both the borrower and the lender make certain representations and warranties about their respective responsibilities, financial status, and legal capacity to enter into the agreement. 6. Covenants: This section includes the obligations and promises made by all parties involved, such as maintaining the collateral's value, providing insurance coverage, and refraining from any actions that may jeopardize the security. 7. Remedies and Default: It specifies the lender's rights and remedies in the event of default by the borrower, such as foreclosure on the collateral, liquidation, or seeking legal action. 8. Governing Law and Enforcement: This portion determines that the agreement will be governed by the laws of North Dakota. It also outlines the jurisdiction and venue for any legal disputes that may arise. It is essential to note that there may be variations or additional clauses depending on the specific nature of the loan or financing agreement and the parties involved. Adjustments or customizations may be made to suit the unique requirements of Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd.

North Dakota Form of Security Agreement is a legally binding document that outlines the terms and conditions related to securing a loan or financing agreement between Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. It serves as a means to establish a secured interest in collateral to ensure the repayment of the debt. Keywords: North Dakota, Form of Security Agreement, Everest and Jennings International, Ltd., Everest and Jennings, Inc., BIL, Ltd., loan, financing agreement, collateral, secured interest. A North Dakota Form of Security Agreement typically consists of the following sections: 1. Parties Involved: This section identifies the parties entering into the agreement, which include Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. Their roles and responsibilities are clearly defined. 2. Definitions: This section provides a comprehensive list of key terms and their meanings to establish common understanding throughout the agreement. 3. Collateral Description: Here, the specific collateral being used as security for the loan or financing agreement is described in detail. This may include assets such as real estate, vehicles, inventory, or other valuable items. 4. Grant of Security Interest: This section outlines how Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. grant a security interest in the identified collateral to secure the repayment of the debt. 5. Representations and Warranties: Both the borrower and the lender make certain representations and warranties about their respective responsibilities, financial status, and legal capacity to enter into the agreement. 6. Covenants: This section includes the obligations and promises made by all parties involved, such as maintaining the collateral's value, providing insurance coverage, and refraining from any actions that may jeopardize the security. 7. Remedies and Default: It specifies the lender's rights and remedies in the event of default by the borrower, such as foreclosure on the collateral, liquidation, or seeking legal action. 8. Governing Law and Enforcement: This portion determines that the agreement will be governed by the laws of North Dakota. It also outlines the jurisdiction and venue for any legal disputes that may arise. It is essential to note that there may be variations or additional clauses depending on the specific nature of the loan or financing agreement and the parties involved. Adjustments or customizations may be made to suit the unique requirements of Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd.