Tennessee Security Agreement between Jon H. Rowberry and Franklin Covey Company

• Category: Corporations - Public - Security
• State: Multi-State
• Control #: US-EG-9055
• Format: Word; Rich Text

Description

Security Agreement between Jon H. Rowberry and Franklin Covey Company dated September 23, 1999. 3 pages Title: Understanding the Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company Introduction: The Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company is a legally binding document that establishes the terms and conditions for securing collateral to ensure the repayment of a loan or fulfillment of an obligation. This agreement provides security to the Franklin Covey Company in case of default or failure of repayment by Jon H. Row berry. Below, we will examine the key elements and types of Tennessee Security Agreement between these parties. Keywords: Tennessee Security Agreement, Jon H. Row berry, Franklin Covey Company, collateral, loan, repayment, obligation. 1. Key Elements of the Tennessee Security Agreement: The Tennessee Security Agreement includes several critical elements, such as: a. Identification of Parties: It provides detailed information regarding the involved parties Johnsonow berryry as the debtor and Franklin Covey Company as the creditor. b. Description of Collateral: This agreement defines the collateral being pledged or secured against the loan or obligation. It could involve tangible assets like property, vehicles, inventory, equipment, or intangible assets like stocks, bonds, or intellectual property. c. Granting Security Interest: It outlines the debtor's grant of specific security interest in the described collateral to the creditor. This ensures that the creditor has the right to seize and sell the collateral if the debtor fails to fulfill their obligations. d. Debt/Obligation Amount: The agreement states the exact amount owed by Jon H. Row berry to Franklin Covey Company. It might include the principal loan amount, interest, or any other associated costs. e. Repayment and Default Terms: The agreement sets forth the terms for repayment, including the schedule, interest rate, and potential penalties for late or missed payments. It also defines what constitutes default and the actions that Franklin Covey Company can take in such a case. f. Rights and Responsibilities: The agreement outlines the rights and responsibilities of both parties, ensuring clarity in their respective roles. It may include provisions related to insurance, maintenance of the collateral, or notification requirements. g. Governing Law and Jurisdiction: Typically, the agreement specifies that it will be governed by the laws of Tennessee and designates specific courts or arbitration methods for dispute resolution. 2. Different Types of Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company: The specific types of Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company might include: a. Chattel Mortgage: This agreement secures personal property, such as equipment, inventory, or vehicles, as collateral for a loan or obligation. b. Real Estate Mortgage: It involves securing real property, such as land or buildings, as collateral for a loan or obligation. c. Pledge Agreement: Jon H. Row berry may pledge specific assets, such as stocks, bonds, or securities, as collateral for the debt or obligation. d. Guaranty Agreement: If Jon H. Row berry cannot provide suitable collateral, a third party could guarantee the loan or obligation, providing security through a Guarantor Agreement. e. Floating Lien Agreement: This type of agreement secures a loan with a general claim to all present and future assets of the debtor. Conclusion: The Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company is a crucial legal instrument that establishes the terms and conditions to ensure the repayment or fulfillment of an obligation. By understanding the key elements and different types of Tennessee Security Agreements, both parties can better protect their interests and obligations. Keywords: Tennessee Security Agreement, Jon H. Row berry, Franklin Covey Company, collateral, loan, repayment, obligation, Chattel Mortgage, Real Estate Mortgage, Pledge Agreement, Guaranty Agreement, Floating Lien Agreement.

Title: Understanding the Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company Introduction: The Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company is a legally binding document that establishes the terms and conditions for securing collateral to ensure the repayment of a loan or fulfillment of an obligation. This agreement provides security to the Franklin Covey Company in case of default or failure of repayment by Jon H. Row berry. Below, we will examine the key elements and types of Tennessee Security Agreement between these parties. Keywords: Tennessee Security Agreement, Jon H. Row berry, Franklin Covey Company, collateral, loan, repayment, obligation. 1. Key Elements of the Tennessee Security Agreement: The Tennessee Security Agreement includes several critical elements, such as: a. Identification of Parties: It provides detailed information regarding the involved parties Johnsonow berryry as the debtor and Franklin Covey Company as the creditor. b. Description of Collateral: This agreement defines the collateral being pledged or secured against the loan or obligation. It could involve tangible assets like property, vehicles, inventory, equipment, or intangible assets like stocks, bonds, or intellectual property. c. Granting Security Interest: It outlines the debtor's grant of specific security interest in the described collateral to the creditor. This ensures that the creditor has the right to seize and sell the collateral if the debtor fails to fulfill their obligations. d. Debt/Obligation Amount: The agreement states the exact amount owed by Jon H. Row berry to Franklin Covey Company. It might include the principal loan amount, interest, or any other associated costs. e. Repayment and Default Terms: The agreement sets forth the terms for repayment, including the schedule, interest rate, and potential penalties for late or missed payments. It also defines what constitutes default and the actions that Franklin Covey Company can take in such a case. f. Rights and Responsibilities: The agreement outlines the rights and responsibilities of both parties, ensuring clarity in their respective roles. It may include provisions related to insurance, maintenance of the collateral, or notification requirements. g. Governing Law and Jurisdiction: Typically, the agreement specifies that it will be governed by the laws of Tennessee and designates specific courts or arbitration methods for dispute resolution. 2. Different Types of Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company: The specific types of Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company might include: a. Chattel Mortgage: This agreement secures personal property, such as equipment, inventory, or vehicles, as collateral for a loan or obligation. b. Real Estate Mortgage: It involves securing real property, such as land or buildings, as collateral for a loan or obligation. c. Pledge Agreement: Jon H. Row berry may pledge specific assets, such as stocks, bonds, or securities, as collateral for the debt or obligation. d. Guaranty Agreement: If Jon H. Row berry cannot provide suitable collateral, a third party could guarantee the loan or obligation, providing security through a Guarantor Agreement. e. Floating Lien Agreement: This type of agreement secures a loan with a general claim to all present and future assets of the debtor. Conclusion: The Tennessee Security Agreement between Jon H. Row berry and Franklin Covey Company is a crucial legal instrument that establishes the terms and conditions to ensure the repayment or fulfillment of an obligation. By understanding the key elements and different types of Tennessee Security Agreements, both parties can better protect their interests and obligations. Keywords: Tennessee Security Agreement, Jon H. Row berry, Franklin Covey Company, collateral, loan, repayment, obligation, Chattel Mortgage, Real Estate Mortgage, Pledge Agreement, Guaranty Agreement, Floating Lien Agreement.