Suffolk New York Security Agreement between Jon H. Rowberry and Franklin Covey Company

• Category: Corporations - Public - Security
• State: Multi-State
• County: Suffolk
• 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 Suffolk New York Security Agreement between Jon H. Row berry and Franklin Covey Company is a legally binding contract that outlines the terms and conditions of providing security for a financial arrangement or loan between the two parties. This agreement offers protection to the lender (Franklin Covey Company) by securing the borrower's (Jon H. Row berry) assets, such as property, collateral, or investments, in case of default or breach of the agreement. The Suffolk New York Security Agreement between Jon H. Row berry and Franklin Covey Company specifies various key elements essential to understanding the agreement thoroughly. These include: 1. Parties involved: The agreement clearly identifies the two parties involved, Jon H. Row berry and Franklin Covey Company, their legal names, and contact details. 2. Definitions and Interpretations: It contains a section that defines significant terms used throughout the agreement for clarity and consistency in understanding. 3. Description of the secured assets: The agreement specifies the assets that will serve as security for the loan or financial arrangement. This may include real estate properties, equipment, inventory, accounts receivables, or any other valuable assets belonging to Jon H. Row berry. 4. Security Interest: It describes how the security interest will be created, how the assets will be pledged, and any restrictions on transferring or encumbering the assets during the term of the agreement. 5. Representations and Warranties: This section outlines the assurances made by both parties regarding the existence, ownership, and transferability of the assets being pledged as security. 6. Conditions Precedent: The agreement may outline any conditions that must be fulfilled by either party before the security interest can become effective. These conditions may include obtaining insurance, maintenance of assets, or satisfying loan covenants. 7. Default and Enforcement: The agreement defines events that will be considered as default, such as non-payment, breach of terms, or insolvency. It also outlines the rights and remedies available to Franklin Covey Company in case of default. 8. Subordination and Priority: If there are multiple Security Agreements in place, this clause determines the priority of rights among the various lenders or secured parties. 9. Governing Law and Jurisdiction: The agreement specifies that it will be governed by the laws of Suffolk New York, ensuring any legal disputes are resolved within the appropriate jurisdiction. Different types of Suffolk New York Security Agreements between Jon H. Row berry and Franklin Covey Company may be further categorized based on their purpose or scope. They may include Real Estate Security Agreements, Chattel Mortgage Security Agreements, Equipment Security Agreements, or Guarantee Security Agreements, among others. These types of agreements serve to secure specific types of assets or provide additional forms of security, depending on the nature of the financial arrangement.

Suffolk New York Security Agreement between Jon H. Row berry and Franklin Covey Company is a legally binding contract that outlines the terms and conditions of providing security for a financial arrangement or loan between the two parties. This agreement offers protection to the lender (Franklin Covey Company) by securing the borrower's (Jon H. Row berry) assets, such as property, collateral, or investments, in case of default or breach of the agreement. The Suffolk New York Security Agreement between Jon H. Row berry and Franklin Covey Company specifies various key elements essential to understanding the agreement thoroughly. These include: 1. Parties involved: The agreement clearly identifies the two parties involved, Jon H. Row berry and Franklin Covey Company, their legal names, and contact details. 2. Definitions and Interpretations: It contains a section that defines significant terms used throughout the agreement for clarity and consistency in understanding. 3. Description of the secured assets: The agreement specifies the assets that will serve as security for the loan or financial arrangement. This may include real estate properties, equipment, inventory, accounts receivables, or any other valuable assets belonging to Jon H. Row berry. 4. Security Interest: It describes how the security interest will be created, how the assets will be pledged, and any restrictions on transferring or encumbering the assets during the term of the agreement. 5. Representations and Warranties: This section outlines the assurances made by both parties regarding the existence, ownership, and transferability of the assets being pledged as security. 6. Conditions Precedent: The agreement may outline any conditions that must be fulfilled by either party before the security interest can become effective. These conditions may include obtaining insurance, maintenance of assets, or satisfying loan covenants. 7. Default and Enforcement: The agreement defines events that will be considered as default, such as non-payment, breach of terms, or insolvency. It also outlines the rights and remedies available to Franklin Covey Company in case of default. 8. Subordination and Priority: If there are multiple Security Agreements in place, this clause determines the priority of rights among the various lenders or secured parties. 9. Governing Law and Jurisdiction: The agreement specifies that it will be governed by the laws of Suffolk New York, ensuring any legal disputes are resolved within the appropriate jurisdiction. Different types of Suffolk New York Security Agreements between Jon H. Row berry and Franklin Covey Company may be further categorized based on their purpose or scope. They may include Real Estate Security Agreements, Chattel Mortgage Security Agreements, Equipment Security Agreements, or Guarantee Security Agreements, among others. These types of agreements serve to secure specific types of assets or provide additional forms of security, depending on the nature of the financial arrangement.