New Mexico Security Agreement regarding borrowing of funds and granting of security interest in assets

• Category: Corporations - Public - Security
• State: Multi-State
• Control #: US-EG-9502
• Format: Word; Rich Text

Description

Security Agreement between Caldera Systems, Inc. and The Canopy Group, Inc. regarding borrowing of funds and granting of security interest in assets dated September 1, 1998. 4 pages. Title: Understanding the New Mexico Security Agreement for Borrowing Funds and Granting Security Interest in Assets Introduction: A New Mexico Security Agreement is a legal document that regulates the borrowing of funds and granting of a security interest in assets between two parties. This agreement ensures that lenders have a recourse to recover their investment in case of default by the borrower. In New Mexico, various types of security agreements govern different lending scenarios. This article will provide a comprehensive overview of the New Mexico Security Agreement, covering the borrowing of funds and granting of security interest in assets. 1. New Mexico Security Agreement for Real Estate: This type of security agreement involves using real estate property as collateral to obtain funds. It allows lenders to place a lien on the property, enabling them to foreclose and sell it in case the borrower fails to repay the loan. Keywords: New Mexico Security Agreement, real estate collateral, lien, foreclosure, loan repayment. 2. New Mexico Security Agreement for Chattel or Personal Property: Chattel or personal property can also serve as collateral for borrowing funds. This type of security agreement provides lenders with legal rights over the property if the borrower defaults. Keywords: New Mexico Security Agreement, chattel, personal property, collateral, default. 3. Equipment Financing Security Agreement: This agreement is specifically designed for borrowers seeking financing to acquire machinery, equipment, or other assets necessary for their business operations. It allows lenders to secure their investment by obtaining a security interest in the financed equipment. Keywords: New Mexico Security Agreement, equipment financing, machinery, security interest, business operations. 4. Inventory Financing Security Agreement: Businesses in need of working capital can enter into this type of agreement, using their inventory as collateral. Lenders receive a security interest in the borrower's inventory, enabling them to recover their investment through liquidation in case of non-payment. Keywords: New Mexico Security Agreement, inventory financing, working capital, collateral, liquidation. 5. Accounts Receivable Financing Security Agreement: Suitable for businesses with outstanding accounts receivable, this agreement allows lenders to use these future payments as collateral for providing immediate funding. In the event of default, the lender gains the right to collect the receivables directly. Keywords: New Mexico Security Agreement, accounts receivable financing, future payments, default, receivables collection. Conclusion: The New Mexico Security Agreement encompasses various types of agreements that govern different lending scenarios. Whether using real estate, personal property, equipment, inventory, or accounts receivable as collateral, these agreements aim to secure lenders' investments and provide clear recourse in case of default. Understanding the specific terms and conditions of each agreement is essential for both borrowers and lenders to protect their interests and ensure a smooth lending process.

Title: Understanding the New Mexico Security Agreement for Borrowing Funds and Granting Security Interest in Assets Introduction: A New Mexico Security Agreement is a legal document that regulates the borrowing of funds and granting of a security interest in assets between two parties. This agreement ensures that lenders have a recourse to recover their investment in case of default by the borrower. In New Mexico, various types of security agreements govern different lending scenarios. This article will provide a comprehensive overview of the New Mexico Security Agreement, covering the borrowing of funds and granting of security interest in assets. 1. New Mexico Security Agreement for Real Estate: This type of security agreement involves using real estate property as collateral to obtain funds. It allows lenders to place a lien on the property, enabling them to foreclose and sell it in case the borrower fails to repay the loan. Keywords: New Mexico Security Agreement, real estate collateral, lien, foreclosure, loan repayment. 2. New Mexico Security Agreement for Chattel or Personal Property: Chattel or personal property can also serve as collateral for borrowing funds. This type of security agreement provides lenders with legal rights over the property if the borrower defaults. Keywords: New Mexico Security Agreement, chattel, personal property, collateral, default. 3. Equipment Financing Security Agreement: This agreement is specifically designed for borrowers seeking financing to acquire machinery, equipment, or other assets necessary for their business operations. It allows lenders to secure their investment by obtaining a security interest in the financed equipment. Keywords: New Mexico Security Agreement, equipment financing, machinery, security interest, business operations. 4. Inventory Financing Security Agreement: Businesses in need of working capital can enter into this type of agreement, using their inventory as collateral. Lenders receive a security interest in the borrower's inventory, enabling them to recover their investment through liquidation in case of non-payment. Keywords: New Mexico Security Agreement, inventory financing, working capital, collateral, liquidation. 5. Accounts Receivable Financing Security Agreement: Suitable for businesses with outstanding accounts receivable, this agreement allows lenders to use these future payments as collateral for providing immediate funding. In the event of default, the lender gains the right to collect the receivables directly. Keywords: New Mexico Security Agreement, accounts receivable financing, future payments, default, receivables collection. Conclusion: The New Mexico Security Agreement encompasses various types of agreements that govern different lending scenarios. Whether using real estate, personal property, equipment, inventory, or accounts receivable as collateral, these agreements aim to secure lenders' investments and provide clear recourse in case of default. Understanding the specific terms and conditions of each agreement is essential for both borrowers and lenders to protect their interests and ensure a smooth lending process.