Philadelphia Pennsylvania General Security Agreement granting secured party secured interest

• Category: Corporations - Public - Security
• State: Multi-State
• County: Philadelphia
• 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. Philadelphia, Pennsylvania is a city rich in history and culture, located in the northeastern United States. Home to iconic landmarks like the Liberty Bell, Independence Hall, and the Philadelphia Museum of Art, it is often referred to as the birthplace of American democracy. In the realm of legal agreements, a General Security Agreement granting a secured party secured interest is a crucial document used in business transactions to safeguard the rights of lenders or creditors. This agreement establishes a legal claim over certain assets of the debtor, providing assurance that the lender will have priority access to those assets in the event of default or non-payment. In Philadelphia, Pennsylvania, there are various types of General Security Agreements granting secured party secured interest that cater to different business scenarios: 1. Real Estate Security Agreement: This type of agreement is used when the secured party wishes to secure their interest in real estate property owned by the debtor. It ensures that the lender has the right to foreclose or sell the property in case of default. 2. Chattel Security Agreement: When the security interest is granted over movable property, such as equipment, inventory, or vehicles, a Chattel Security Agreement is employed. It allows the lender to repossess and sell the collateral to recover their outstanding debts. 3. Intellectual Property Security Agreement: This type of agreement is utilized when the secured party seeks to secure their interest in intellectual property assets like patents, copyrights, or trademarks. It ensures that the lender can gain control or monetize the intellectual property in case of default. 4. Accounts Receivable Security Agreement: In situations where a business pledges its accounts receivable as collateral, an Accounts Receivable Security Agreement is employed. It allows the lender to collect payments directly from the debtor's customers to satisfy the outstanding debt. These various types of General Security Agreements play a vital role in ensuring the protection of the secured party's interest in Philadelphia, Pennsylvania. Properly executed agreements provide a sense of security for lenders, encouraging investment and facilitating economic growth in the region.

Philadelphia, Pennsylvania is a city rich in history and culture, located in the northeastern United States. Home to iconic landmarks like the Liberty Bell, Independence Hall, and the Philadelphia Museum of Art, it is often referred to as the birthplace of American democracy. In the realm of legal agreements, a General Security Agreement granting a secured party secured interest is a crucial document used in business transactions to safeguard the rights of lenders or creditors. This agreement establishes a legal claim over certain assets of the debtor, providing assurance that the lender will have priority access to those assets in the event of default or non-payment. In Philadelphia, Pennsylvania, there are various types of General Security Agreements granting secured party secured interest that cater to different business scenarios: 1. Real Estate Security Agreement: This type of agreement is used when the secured party wishes to secure their interest in real estate property owned by the debtor. It ensures that the lender has the right to foreclose or sell the property in case of default. 2. Chattel Security Agreement: When the security interest is granted over movable property, such as equipment, inventory, or vehicles, a Chattel Security Agreement is employed. It allows the lender to repossess and sell the collateral to recover their outstanding debts. 3. Intellectual Property Security Agreement: This type of agreement is utilized when the secured party seeks to secure their interest in intellectual property assets like patents, copyrights, or trademarks. It ensures that the lender can gain control or monetize the intellectual property in case of default. 4. Accounts Receivable Security Agreement: In situations where a business pledges its accounts receivable as collateral, an Accounts Receivable Security Agreement is employed. It allows the lender to collect payments directly from the debtor's customers to satisfy the outstanding debt. These various types of General Security Agreements play a vital role in ensuring the protection of the secured party's interest in Philadelphia, Pennsylvania. Properly executed agreements provide a sense of security for lenders, encouraging investment and facilitating economic growth in the region.