New York Trademark Security Agreement

State:
Multi-State
Control #:
US-0442BG
Format:
Word; 
Rich Text
Instant download

Description

This form is a trademark security agreement.

A New York Trademark Security Agreement is a legally binding document that establishes a framework for securing and enforcing rights related to trademarks in the state of New York. This agreement serves as a protection mechanism for both the trademark owner and any lender or creditor involved in a financial transaction involving the trademark. One type of New York Trademark Security Agreement is the General Security Agreement, commonly used in business transactions where the trademark is being offered as collateral for a loan or debt. It outlines the terms and conditions under which the trademark may be used as security, including the lender's rights to seize or sell the trademark in the event of default. Another type is the Debenture Agreement, typically employed when a company is issuing debt securities to investors and the trademark serves as security for these obligations. This agreement clarifies the obligations and responsibilities of both parties, including the conditions under which the trademark can be used as collateral. Furthermore, the New York Trademark Security Agreement may also include specific provisions addressing the transfer of ownership or licensing of the trademark. These provisions ensure that any changes in ownership or licensing rights are properly documented and that the new owner or licensee assumes the same obligations and responsibilities outlined in the original agreement. The New York Trademark Security Agreement is essential for protecting the interest of all parties involved in a trademark-related financial transaction. By clearly defining the terms, obligations, and rights associated with the trademark, it mitigates risks and provides a legal framework for resolving potential disputes. Additionally, the agreement offers lenders and creditors greater confidence in extending credit by providing an additional layer of security through the trademark. Keywords: New York, Trademark Security Agreement, General Security Agreement, Debenture Agreement, collateral, loan, debt, trademark owner, lender, creditor, financial transaction, obligations, ownership, licensing rights, transfer of ownership.

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FAQ

A secured promissory note may include a security agreement as part of its terms. If a security agreement lists a business property as collateral, the lender might file a UCC-1 statement to serve as a lien on the property. A security agreement mitigates the default risk faced by the lender.

Often, secured parties use UCC-1 financing statement forms to achieve perfection of security interest outlined in a security agreement. Prepared and signed by both parties, this form includes the following information: The debtor's name (either the name of an organization or an individual taking on debt).

Security agreements can be used to specify a collateral that is already in possession of the debtor, an intangible collateral or an after-acquired property.

Intellectual property, including trademarks, is classified under the definition of general intangibles. One obtains a security interest in a trademark by obtaining a written grant of a security interest from the debtor.

In order for the security agreement to be valid, the borrower must usually have rights in the collateral at the time the agreement is executed. If a borrower pledges as collateral a car owned by a neighbor, and the neighbor does not know of and endorse this pledge, then the security agreement is ineffective.

For purposes of attachment, the debtor must "authenticate" a security agreement. In other words, the debtor must sign the agreement....The UCC specifies what must be contained in a financing statement:the name of the debtor.the name of the secured party; and.an indication of the collateral.

In general, the promissory note is your written promise to repay the loan and a security agreement is used when collateral is given for the loan.

Terms Contained in a Security Agreement A basic security agreement should have the description of the parties involved, the collateral and the statement of intention of providing security interest along with signatures from all parties.

A General Security Agreement (GSA) is a contract signed between two parties a creditor (lender) and a debtor (borrower) to secure personal loans, commercial loans, and other obligations owed to a lender.

Article 9 contains a statute of frauds which requires a security agreement to be in writing unless it is pledged. See § 9-203(1) of the code. A pledged security agreement arises when the borrower transfers the collateral to the lender in exchange for a loan (e.g., a pawnbroker).

More info

How to File ? The application must be on a current form supplied by the Department of State and be completed in the English language and plainly written or ... 1 Lanning G. Bryer, a partner in the New York office of the law firmWhen trademark rights are the subject of a security interest, ...-2- (c) All terms defined in this Trademark Security Agreement in theTo secure the prompt and complete payment, observance and performance when due ... For Equipment Projects: For the most up-to-date forms and information on how to file Uniform Financing Statements (UCCs), please visit New York State - ... The Grantor hereby authorizes the Secured Party unilaterally to modify this Trademark Security Agreement by amending Schedule I to include any such new ... What Happens if the New York Trademark or Servicemark Owner Changes Names orThe Security Agreement available from Spiegel & Utrera, P.A. is complete ... The applicant must allege use in commerce prior to the date the application is approved for publication or within six months after the Notice of ... Grant of Security Interest in Trademarks. To secure the complete and timely payment, performance and satisfaction of all of the Secured Obligations, ... Therefore, if a party is trying to contend that failure to file the USPTO for a trademark or service mark results in ineffective perfection, ... THIS TRADEMARK SECURITY AGREEMENT dated as of is made by the entityTHE INTERNAL LAWS OF THE STATE OF NEW YORK FOR CONTRACTS MADE AND TO BE ...

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New York Trademark Security Agreement