South Dakota 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. The South Dakota General Security Agreement is a legal document used to establish a secured interest for a secured party. This agreement ensures that the secured party has the right to claim specific assets from the debtor in the event of default or non-compliance with the underlying agreement. Keywords: South Dakota, General Security Agreement, secured party, secured interest, assets, debtor, default, non-compliance. There are two types of South Dakota General Security Agreements granting secured party secured interest: 1. Real Property General Security Agreement: This type of agreement focuses on securing interest in real property assets, such as land, buildings, and any fixtures attached to the land. By executing this agreement, the secured party gains a priority claim over the specified real property, providing them with a legal right to satisfy any outstanding debts or obligations in case the debtor defaults. 2. Personal Property General Security Agreement: Unlike the Real Property General Security Agreement, this type of agreement secures interest in personal property assets such as vehicles, equipment, inventory, accounts receivable, and other movable assets. By creating this agreement, the secured party ensures their priority claim over these assets, allowing them to recover any outstanding debts or obligations owed by the debtor in case of default. These agreements are crucial for lenders or creditors providing financial assistance or extending credit to individuals or businesses. By establishing a secured interest through a South Dakota General Security Agreement, the secured party gains a legal advantage, assuring them that they will be compensated with the specified assets if the debtor fails to meet their obligations. It is important to note that the specific terms and conditions of the South Dakota General Security Agreement can vary depending on the parties involved, the nature of the assets, and any additional provisions negotiated as part of the agreement. It is essential for both the secured party and the debtor to thoroughly review the document, seek legal counsel if necessary, and ensure that all relevant terms are accurately reflected to protect the rights and interests of both parties involved.

The South Dakota General Security Agreement is a legal document used to establish a secured interest for a secured party. This agreement ensures that the secured party has the right to claim specific assets from the debtor in the event of default or non-compliance with the underlying agreement. Keywords: South Dakota, General Security Agreement, secured party, secured interest, assets, debtor, default, non-compliance. There are two types of South Dakota General Security Agreements granting secured party secured interest: 1. Real Property General Security Agreement: This type of agreement focuses on securing interest in real property assets, such as land, buildings, and any fixtures attached to the land. By executing this agreement, the secured party gains a priority claim over the specified real property, providing them with a legal right to satisfy any outstanding debts or obligations in case the debtor defaults. 2. Personal Property General Security Agreement: Unlike the Real Property General Security Agreement, this type of agreement secures interest in personal property assets such as vehicles, equipment, inventory, accounts receivable, and other movable assets. By creating this agreement, the secured party ensures their priority claim over these assets, allowing them to recover any outstanding debts or obligations owed by the debtor in case of default. These agreements are crucial for lenders or creditors providing financial assistance or extending credit to individuals or businesses. By establishing a secured interest through a South Dakota General Security Agreement, the secured party gains a legal advantage, assuring them that they will be compensated with the specified assets if the debtor fails to meet their obligations. It is important to note that the specific terms and conditions of the South Dakota General Security Agreement can vary depending on the parties involved, the nature of the assets, and any additional provisions negotiated as part of the agreement. It is essential for both the secured party and the debtor to thoroughly review the document, seek legal counsel if necessary, and ensure that all relevant terms are accurately reflected to protect the rights and interests of both parties involved.