Wake North Carolina 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: Wake
• 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. The Wake North Carolina Form of Security Agreement is a legally binding document that establishes a security interest between Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. in Wake County, North Carolina. This agreement outlines the terms and conditions under which the parties involved agree to secure obligations through the pledge of certain assets. The main purpose of the Wake North Carolina Form of Security Agreement is to provide assurance to Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. that their financial interests will be protected in the event of default or non-payment by the debtor. By creating a security interest, the parties ensure the availability of assets that can be used to satisfy the outstanding obligations. This agreement may include various types of security, depending on the nature of the transaction and the assets involved. Some common forms of security interests may include: 1. Real Estate: If the debtor owns real estate properties, they can be pledged as security to secure the obligations. The agreement will outline the specifics of the properties being pledged, including details such as location, title information, and any existing liens. 2. Equipment and Machinery: In cases where the debtor possesses valuable equipment or machinery, such assets can be pledged as security. The agreement will provide a detailed description of the equipment, including make, model, condition, and estimated value. 3. Accounts Receivable: If the debtor has outstanding invoices or pending payments owed to them from customers, these accounts receivable can be used as collateral. The agreement will outline the specific accounts to be pledged and any conditions related to their collection and disbursement. 4. Intellectual Property: In cases where the debtor holds valuable intellectual property rights, such as patents, trademarks, or copyrights, these intangible assets can be pledged as security. The agreement will provide details regarding the specific intellectual property being pledged and any restrictions on its use or transfer. 5. Inventory: If the debtor maintains a stock of goods or inventory, it can be used as security for the obligations. The agreement will include a detailed description of the inventory, including quantity, value, and any specific conditions related to storage or sale. It is important for all parties involved to carefully review and understand the terms and conditions outlined in the Wake North Carolina Form of Security Agreement. This agreement protects the interests of Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. by establishing a legally binding commitment to secure the obligations through the designated assets.

The Wake North Carolina Form of Security Agreement is a legally binding document that establishes a security interest between Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. in Wake County, North Carolina. This agreement outlines the terms and conditions under which the parties involved agree to secure obligations through the pledge of certain assets. The main purpose of the Wake North Carolina Form of Security Agreement is to provide assurance to Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. that their financial interests will be protected in the event of default or non-payment by the debtor. By creating a security interest, the parties ensure the availability of assets that can be used to satisfy the outstanding obligations. This agreement may include various types of security, depending on the nature of the transaction and the assets involved. Some common forms of security interests may include: 1. Real Estate: If the debtor owns real estate properties, they can be pledged as security to secure the obligations. The agreement will outline the specifics of the properties being pledged, including details such as location, title information, and any existing liens. 2. Equipment and Machinery: In cases where the debtor possesses valuable equipment or machinery, such assets can be pledged as security. The agreement will provide a detailed description of the equipment, including make, model, condition, and estimated value. 3. Accounts Receivable: If the debtor has outstanding invoices or pending payments owed to them from customers, these accounts receivable can be used as collateral. The agreement will outline the specific accounts to be pledged and any conditions related to their collection and disbursement. 4. Intellectual Property: In cases where the debtor holds valuable intellectual property rights, such as patents, trademarks, or copyrights, these intangible assets can be pledged as security. The agreement will provide details regarding the specific intellectual property being pledged and any restrictions on its use or transfer. 5. Inventory: If the debtor maintains a stock of goods or inventory, it can be used as security for the obligations. The agreement will include a detailed description of the inventory, including quantity, value, and any specific conditions related to storage or sale. It is important for all parties involved to carefully review and understand the terms and conditions outlined in the Wake North Carolina Form of Security Agreement. This agreement protects the interests of Everest and Jennings International, Ltd., Everest and Jennings, Inc., and BIL, Ltd. by establishing a legally binding commitment to secure the obligations through the designated assets.