Travis Texas 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
• County: Travis
• 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. Travis Texas Form of Security Agreement between Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd., is a legal document that establishes the terms and conditions for securing certain obligations and debts through the granting of collateral. This specific type of security agreement is designed to protect the interests of the involved parties by creating a legally enforceable agreement that outlines the rights and obligations of each party in the event of default or non-payment. The agreement typically specifies the collateral provided, which could include assets such as real estate, equipment, inventory, or accounts receivable. Key terms and provisions commonly found in a Travis Texas Form of Security Agreement include: 1. Identification of the parties: The agreement clearly identifies the three parties involved, namely Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. 2. Description of the obligations: The document details the specific obligations or debts for which the security agreement is being executed. This could include loans, lines of credit, or any other type of financial arrangement. 3. Granting of security interest: The agreement states that Everest and Jennings International, Ltd., and Everest and Jennings, Inc. (the debtors) grant a security interest to BIL, Ltd. (the secured party) in the specified collateral to secure the performance of the obligations. 4. Collateral description: A comprehensive description of the collateral pledged as security is provided. This section typically includes specifics such as make, model, serial number, location, and any relevant identification details. 5. Rights and remedies: The agreement outlines the rights and remedies available to the secured party in case of default, including the right to seize and sell the collateral to recover the outstanding debt. 6. Representations and warranties: Both the debtors and the secured party make certain representations and warranties regarding their legal authority, ownership of collateral, and absence of encumbrances on the collateral. 7. Indemnification: The agreement may include provisions for indemnification, holding harmless, or liability limitation clauses to protect the parties from certain risks and obligations. It is important to note that while the Travis Texas Form of Security Agreement generally follows a standard format, there may be variations based on specific circumstances or additional terms negotiated between the parties. Therefore, it is advisable to consult legal professionals familiar with Travis Texas jurisdiction to ensure compliance with relevant laws and to address any particular requirements.

Travis Texas Form of Security Agreement between Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd., is a legal document that establishes the terms and conditions for securing certain obligations and debts through the granting of collateral. This specific type of security agreement is designed to protect the interests of the involved parties by creating a legally enforceable agreement that outlines the rights and obligations of each party in the event of default or non-payment. The agreement typically specifies the collateral provided, which could include assets such as real estate, equipment, inventory, or accounts receivable. Key terms and provisions commonly found in a Travis Texas Form of Security Agreement include: 1. Identification of the parties: The agreement clearly identifies the three parties involved, namely Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. 2. Description of the obligations: The document details the specific obligations or debts for which the security agreement is being executed. This could include loans, lines of credit, or any other type of financial arrangement. 3. Granting of security interest: The agreement states that Everest and Jennings International, Ltd., and Everest and Jennings, Inc. (the debtors) grant a security interest to BIL, Ltd. (the secured party) in the specified collateral to secure the performance of the obligations. 4. Collateral description: A comprehensive description of the collateral pledged as security is provided. This section typically includes specifics such as make, model, serial number, location, and any relevant identification details. 5. Rights and remedies: The agreement outlines the rights and remedies available to the secured party in case of default, including the right to seize and sell the collateral to recover the outstanding debt. 6. Representations and warranties: Both the debtors and the secured party make certain representations and warranties regarding their legal authority, ownership of collateral, and absence of encumbrances on the collateral. 7. Indemnification: The agreement may include provisions for indemnification, holding harmless, or liability limitation clauses to protect the parties from certain risks and obligations. It is important to note that while the Travis Texas Form of Security Agreement generally follows a standard format, there may be variations based on specific circumstances or additional terms negotiated between the parties. Therefore, it is advisable to consult legal professionals familiar with Travis Texas jurisdiction to ensure compliance with relevant laws and to address any particular requirements.