First security interest meaning
WebInterest in someone else's property, created by contract or by law. A mortgage is one type of security interest created by contract. A garnishment is one type of security interest created by law. See Collateral and Secured transaction. WebFirst Lien Security Interest means any Lien on the First Lien Collateral granted in favor of the Collateral Agent for the benefit of the First Lien Claimholders, including under …
First security interest meaning
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WebJun 6, 2024 · The term purchase money security interest (PMSI) refers to a legal claim that allows a lender to either repossess property financed with its loan or to demand repayment in cash if the borrower... WebFirst Lien Security Interest means any Lien on the First Lien Collateral granted in favor of the Collateral Agent for the benefit of the First Lien Claimholders, including under Section 3 (i) of the Security Agreement. Sample 1 Based on 1 documents Examples of First Lien Security Interest in a sentence
WebFirst Priority Security Documents means the “Security Documents” as defined in the First Priority Agreement, and any other documents that are designated under the First Priority … WebPrior Security Interest means a valid and enforceable perfected first-priority security interest under the Uniform Commercial Code in the UCC Collateral and the Pledged …
WebPurchase Money Security Interest means Liens upon tangible personal property securing loans to any Loan Party or Subsidiary of a Loan Party or deferred payments by such Loan Party or Subsidiary for the purchase of such tangible personal property. Article 9 Collateral has the meaning assigned to such term in Section 3.01 (a). WebMay 9, 2013 · Article 9 contains rules for the creation and perfection of security interests. Although the rules might seem insignificant, if not followed, it could create a fatal flaw in the secured interest. There are three requirements for the creation of an enforceable security instrument against the debtor. They are in UCC 9-203 (b) and are as follows: 1.
WebDefine security interest. security interest synonyms, security interest pronunciation, security interest translation, English dictionary definition of security interest. ... The notes are secured by a first-priority security interest in the equity of issuers. Fitch Affirms Crown Castle Sr Secured Tower Rev Notes Ser 2010-6, 2015-1, & 2015-2
WebOct 28, 2024 · Article 9 regulates the creation of security interests, and the enforcement of those interests, in movable or intangible property and fixtures. It encompasses a wide variety of possessory... opting out tprWebDec 3, 2009 · Security interest is an enforceable legal claim or lien on collateral that has been pledged, usually to obtain a loan. The borrower provides the lender with a security interest in certain... Subordinated Debt is a loan or security that ranks below other loans or securities … optinit 472WebAug 8, 2024 · A security interest is a lien on an asset that has been pledged as collateral on a loan by a borrower. The lender can use this security interest to claim the asset if the borrower defaults on a loan agreement, thereby paying off the loan. Security interests are common with any asset-based lending, such as mortgages and car loans. portland thorns new jerseyWeb(1) the security agreement becomes effective to create a security interest in the person's property; or (2) the person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets of the other person. opting out organ donor ukWebA security interest in software is a purchase-money security interest to the extent that the security interest also secures a purchase-money obligation incurred with respect to goods in which the secured party holds or held a purchase-money security interest if: (1) ... portland thorns vs angel cityWebSecurity interest definition: If you have an interest in something, you want to learn or hear more about it. [...] Meaning, pronunciation, translations and examples portland thorns academy ecnlWebSecurity Interest An interest in certain assets which secures payment or performance of an obligation. In a secured financing transaction, the borrower grants a security interest over its assets in favor of the lender to secure its payment and performance obligations to the lender. For further information, see Practice Note, Security: Overview. opting out of workplace pension uk