Houston Texas General Security Agreement granting secured party secured interest

• Category: Corporations - Public - Security
• State: Multi-State
• City: Houston
• 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. Houston, Texas General Security Agreement is a legal contract that establishes a secured party's secured interest in collateral provided by a debtor. This agreement, commonly used in financial transactions, ensures that the secured party has certain rights over specified assets to secure repayment in case of default or the debtor's inability to fulfill their obligations. The agreement encompasses a wide range of assets, including but not limited to tangible assets such as real estate, equipment, inventory, accounts receivable, and intangible assets such as patents, trademarks, copyrights, and contractual rights. By pledging these assets as collateral, the debtor provides an assurance to the secured party that they will honor their obligations. There are different types of Houston, Texas General Security Agreements that grant secured interests based on specific circumstances or collateral involved. These variations include: 1. Real Estate General Security Agreement: This type of agreement focuses on securing interests in real property, such as land, buildings, or any improvements made on the property. It provides protection to the secured party against potential defaults on loans or debts from the debtor. 2. Chattel General Security Agreement: This agreement focuses on securing movable assets, also known as chattels, such as equipment, machinery, vehicles, or inventory. It guarantees the secured party's interest in these assets, ensuring they can recoup their losses in case of default. 3. Intellectual Property General Security Agreement: This type of agreement secures interests in intangible assets like patents, trademarks, copyrights, and other intellectual property rights. It ensures the repayment of debts or loans by allowing the secured party to take possession or control of these intellectual assets in case of default. 4. Accounts Receivable General Security Agreement: This agreement focuses on securing interests in a company's accounts receivable. It allows the secured party to collect outstanding payments directly from the debtor's customers if the debtor fails to meet its financial obligations. Overall, the Houston, Texas General Security Agreement is a crucial legal tool that protects the rights of the secured party by establishing a clear framework for securing collateral in various forms. It helps mitigate risks associated with lending or financial transactions and provides a pathway for resolving defaults while ensuring fair treatment of both parties involved.

Houston, Texas General Security Agreement is a legal contract that establishes a secured party's secured interest in collateral provided by a debtor. This agreement, commonly used in financial transactions, ensures that the secured party has certain rights over specified assets to secure repayment in case of default or the debtor's inability to fulfill their obligations. The agreement encompasses a wide range of assets, including but not limited to tangible assets such as real estate, equipment, inventory, accounts receivable, and intangible assets such as patents, trademarks, copyrights, and contractual rights. By pledging these assets as collateral, the debtor provides an assurance to the secured party that they will honor their obligations. There are different types of Houston, Texas General Security Agreements that grant secured interests based on specific circumstances or collateral involved. These variations include: 1. Real Estate General Security Agreement: This type of agreement focuses on securing interests in real property, such as land, buildings, or any improvements made on the property. It provides protection to the secured party against potential defaults on loans or debts from the debtor. 2. Chattel General Security Agreement: This agreement focuses on securing movable assets, also known as chattels, such as equipment, machinery, vehicles, or inventory. It guarantees the secured party's interest in these assets, ensuring they can recoup their losses in case of default. 3. Intellectual Property General Security Agreement: This type of agreement secures interests in intangible assets like patents, trademarks, copyrights, and other intellectual property rights. It ensures the repayment of debts or loans by allowing the secured party to take possession or control of these intellectual assets in case of default. 4. Accounts Receivable General Security Agreement: This agreement focuses on securing interests in a company's accounts receivable. It allows the secured party to collect outstanding payments directly from the debtor's customers if the debtor fails to meet its financial obligations. Overall, the Houston, Texas General Security Agreement is a crucial legal tool that protects the rights of the secured party by establishing a clear framework for securing collateral in various forms. It helps mitigate risks associated with lending or financial transactions and provides a pathway for resolving defaults while ensuring fair treatment of both parties involved.