Kings New York General Security Agreement granting secured party secured interest

• Category: Corporations - Public - Security
• State: Multi-State
• County: Kings
• 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. The King's New York General Security Agreement is a legal document that grants a secured party a secured interest in assets owned by the party granting the security (the debtor). It serves as a means of protecting the secured party's rights and ensuring the repayment of any debts owed. This agreement is a widely used tool in various industries, ranging from finance and banking to business transactions and lending. By granting a secured interest, the secured party gains a legal claim on the designated assets and holds a priority position over other creditors in case of default or bankruptcy. There can be different types of King's New York General Security Agreements, each tailored to specific circumstances. Some common variations include: 1. Real Estate Security Agreement: This type of agreement specifically involves securing an interest in real estate assets, such as land, buildings, or property. 2. Equipment Security Agreement: It focuses on securing an interest in equipment and machinery owned by the debtor. This may include vehicles, heavy machinery, manufacturing tools, or any other type of tangible equipment. 3. Inventory Security Agreement: Here, the secured party's interest is tied to the debtor's inventory, which typically includes goods held for sale, raw materials, work in progress, finished products, or any other form of inventory. 4. Intellectual Property Security Agreement: This type of agreement revolves around securing an interest in intellectual property assets, including patents, trademarks, copyrights, or trade secrets. It ensures that the secured party has rights over these intangible assets in case of default or non-payment. 5. Accounts Receivable Security Agreement: It involves granting a secured interest in the debtor's accounts receivable. This means that any payments due from customers or clients will be directed to the secured party until the debt is repaid. In summary, the King's New York General Security Agreement grants a secured party a vested interest in specified assets, protecting their rights and ensuring repayment of debts. It is a versatile document that can be tailored to different types of assets, such as real estate, equipment, inventory, intellectual property, or accounts receivable, depending on the specific circumstances of the agreement.

The King's New York General Security Agreement is a legal document that grants a secured party a secured interest in assets owned by the party granting the security (the debtor). It serves as a means of protecting the secured party's rights and ensuring the repayment of any debts owed. This agreement is a widely used tool in various industries, ranging from finance and banking to business transactions and lending. By granting a secured interest, the secured party gains a legal claim on the designated assets and holds a priority position over other creditors in case of default or bankruptcy. There can be different types of King's New York General Security Agreements, each tailored to specific circumstances. Some common variations include: 1. Real Estate Security Agreement: This type of agreement specifically involves securing an interest in real estate assets, such as land, buildings, or property. 2. Equipment Security Agreement: It focuses on securing an interest in equipment and machinery owned by the debtor. This may include vehicles, heavy machinery, manufacturing tools, or any other type of tangible equipment. 3. Inventory Security Agreement: Here, the secured party's interest is tied to the debtor's inventory, which typically includes goods held for sale, raw materials, work in progress, finished products, or any other form of inventory. 4. Intellectual Property Security Agreement: This type of agreement revolves around securing an interest in intellectual property assets, including patents, trademarks, copyrights, or trade secrets. It ensures that the secured party has rights over these intangible assets in case of default or non-payment. 5. Accounts Receivable Security Agreement: It involves granting a secured interest in the debtor's accounts receivable. This means that any payments due from customers or clients will be directed to the secured party until the debt is repaid. In summary, the King's New York General Security Agreement grants a secured party a vested interest in specified assets, protecting their rights and ensuring repayment of debts. It is a versatile document that can be tailored to different types of assets, such as real estate, equipment, inventory, intellectual property, or accounts receivable, depending on the specific circumstances of the agreement.