Mecklenburg North Carolina General Security Agreement granting secured party secured interest

• Category: Corporations - Public - Security
• State: Multi-State
• County: Mecklenburg
• 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. Mecklenburg North Carolina General Security Agreement: Comprehensive Guide to Secured Interests in the Secured Party In Mecklenburg County, North Carolina, a General Security Agreement is a legal document that enables a secured party to protect their interest in collateral provided by a debtor. This agreement establishes a priority right for the secured party in case the debtor defaults on payment obligations. It ensures that the secured party has recourse to the collateral in case of default or non-performance by the debtor. Keywords: Mecklenburg North Carolina, General Security Agreement, secured party, secured interest, collateral, debtor, default, payment obligations, priority right, non-performance. Types of Mecklenburg North Carolina General Security Agreements granting secured party secured interest: 1. Real estate properties: This type of General Security Agreement focuses on securing interests in real estate assets. The secured party may include lenders, financial institutions, or individuals who provide loans against the mortgage of a property. By granting a secured interest, the lender can claim ownership or sell the property to recover the outstanding amount if the debtor fails to fulfill their obligations. 2. Chattel and personal property: This category covers movable assets such as vehicles, equipment, inventory, and other personal properties. The General Security Agreement helps the secured party secure their interest in registering a lien on the specified assets. In case of default, the secured party can seize, sell, or repossess the collateral to recover the amount owed. 3. Accounts receivable: When a debtor owes a certain sum of money to the creditor, the General Security Agreement can be used to secure the outstanding amount. The debtor's accounts receivable, such as pending invoices or payments due from customers, are pledged as collateral. By doing so, the secured party ensures their interest is protected and can collect the receivables directly if the debtor fails to meet their payment obligations. 4. Intellectual property: This form of General Security Agreement allows the secured party to utilize the intellectual property rights held by the debtor as collateral. Intellectual property includes patents, trademarks, copyrights, and trade secrets. By granting secured interest, the secured party can exercise their rights over the intellectual property if the debtor fails to fulfill their obligations. 5. Investment securities: In certain cases, the General Security Agreement may extend to investment securities, such as stocks, bonds, or mutual funds. By securing an interest in these assets, the secured party can exercise control over the securities and sell them to recover their dues if the debtor defaults. It's important to note that the types of General Security Agreements may vary based on the specific arrangements between the secured party and the debtor. Therefore, it is recommended to consult with legal professionals in Mecklenburg County, North Carolina, to accurately establish the terms and conditions of the agreement and secure the interests of the secured party in compliance with the applicable laws and regulations.

Mecklenburg North Carolina General Security Agreement: Comprehensive Guide to Secured Interests in the Secured Party In Mecklenburg County, North Carolina, a General Security Agreement is a legal document that enables a secured party to protect their interest in collateral provided by a debtor. This agreement establishes a priority right for the secured party in case the debtor defaults on payment obligations. It ensures that the secured party has recourse to the collateral in case of default or non-performance by the debtor. Keywords: Mecklenburg North Carolina, General Security Agreement, secured party, secured interest, collateral, debtor, default, payment obligations, priority right, non-performance. Types of Mecklenburg North Carolina General Security Agreements granting secured party secured interest: 1. Real estate properties: This type of General Security Agreement focuses on securing interests in real estate assets. The secured party may include lenders, financial institutions, or individuals who provide loans against the mortgage of a property. By granting a secured interest, the lender can claim ownership or sell the property to recover the outstanding amount if the debtor fails to fulfill their obligations. 2. Chattel and personal property: This category covers movable assets such as vehicles, equipment, inventory, and other personal properties. The General Security Agreement helps the secured party secure their interest in registering a lien on the specified assets. In case of default, the secured party can seize, sell, or repossess the collateral to recover the amount owed. 3. Accounts receivable: When a debtor owes a certain sum of money to the creditor, the General Security Agreement can be used to secure the outstanding amount. The debtor's accounts receivable, such as pending invoices or payments due from customers, are pledged as collateral. By doing so, the secured party ensures their interest is protected and can collect the receivables directly if the debtor fails to meet their payment obligations. 4. Intellectual property: This form of General Security Agreement allows the secured party to utilize the intellectual property rights held by the debtor as collateral. Intellectual property includes patents, trademarks, copyrights, and trade secrets. By granting secured interest, the secured party can exercise their rights over the intellectual property if the debtor fails to fulfill their obligations. 5. Investment securities: In certain cases, the General Security Agreement may extend to investment securities, such as stocks, bonds, or mutual funds. By securing an interest in these assets, the secured party can exercise control over the securities and sell them to recover their dues if the debtor defaults. It's important to note that the types of General Security Agreements may vary based on the specific arrangements between the secured party and the debtor. Therefore, it is recommended to consult with legal professionals in Mecklenburg County, North Carolina, to accurately establish the terms and conditions of the agreement and secure the interests of the secured party in compliance with the applicable laws and regulations.