Pima Arizona General Security Agreement granting secured party secured interest

• Category: Corporations - Public - Security
• State: Multi-State
• County: Pima
• 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. Lima, Arizona General Security Agreement is a legally binding document that outlines the terms and conditions under which a secured party can obtain a secured interest in specific assets or property of a debtor. The agreement ensures that the secured party holds priority rights and safeguards their financial interest in case of default or non-payment by the debtor. The General Security Agreement typically includes detailed information regarding the identities of the secured party (lender) and the debtor (borrower). It outlines the specific assets or property that are subject to the agreement, such as real estate, vehicles, equipment, inventory, accounts receivable, or other valuable assets. By entering into this agreement, the debtor pledges their assets or properties as collateral for the loan or credit extended by the secured party. The secured party is granted specific rights and security interests over the assets listed in the agreement, providing them with legal protection and a higher claim priority over other creditors in case the debtor becomes insolvent or fails to fulfill their obligations. Different types of Lima, Arizona General Security Agreements granting secured party secured interest may include the following: 1. Real Estate General Security Agreement: This type of agreement specifically pertains to real property, such as land, buildings, or other immovable assets. It grants the secured party a legal claim over the property in case of default. 2. Chattels General Security Agreement: This agreement applies to movable assets, including vehicles, equipment, inventory, machinery, or other personal property. It allows the secured party to possess or sell the collateral to recover their investment if the debtor defaults. 3. Accounts Receivable General Security Agreement: This type of agreement focuses on the debtor's accounts receivable, which are unpaid invoices or amounts owed by customers. It permits the secured party to collect these outstanding payments directly or assign them to a third party for collection. Overall, a Lima, Arizona General Security Agreement granting secured party secured interest provides an essential legal framework for ensuring the protection and enforcement of the secured party's financial interests. It establishes clear rights and obligations for both parties involved and serves as a safeguard against potential risks and default situations.

Lima, Arizona General Security Agreement is a legally binding document that outlines the terms and conditions under which a secured party can obtain a secured interest in specific assets or property of a debtor. The agreement ensures that the secured party holds priority rights and safeguards their financial interest in case of default or non-payment by the debtor. The General Security Agreement typically includes detailed information regarding the identities of the secured party (lender) and the debtor (borrower). It outlines the specific assets or property that are subject to the agreement, such as real estate, vehicles, equipment, inventory, accounts receivable, or other valuable assets. By entering into this agreement, the debtor pledges their assets or properties as collateral for the loan or credit extended by the secured party. The secured party is granted specific rights and security interests over the assets listed in the agreement, providing them with legal protection and a higher claim priority over other creditors in case the debtor becomes insolvent or fails to fulfill their obligations. Different types of Lima, Arizona General Security Agreements granting secured party secured interest may include the following: 1. Real Estate General Security Agreement: This type of agreement specifically pertains to real property, such as land, buildings, or other immovable assets. It grants the secured party a legal claim over the property in case of default. 2. Chattels General Security Agreement: This agreement applies to movable assets, including vehicles, equipment, inventory, machinery, or other personal property. It allows the secured party to possess or sell the collateral to recover their investment if the debtor defaults. 3. Accounts Receivable General Security Agreement: This type of agreement focuses on the debtor's accounts receivable, which are unpaid invoices or amounts owed by customers. It permits the secured party to collect these outstanding payments directly or assign them to a third party for collection. Overall, a Lima, Arizona General Security Agreement granting secured party secured interest provides an essential legal framework for ensuring the protection and enforcement of the secured party's financial interests. It establishes clear rights and obligations for both parties involved and serves as a safeguard against potential risks and default situations.