security agreement


Also found in: Wikipedia.

security agreement

A contract that grants a creditor a lien in personal property belonging to the debtor. Every state has passed some version of the Uniform Commercial Code, Article Nine, which addresses security agreements and their consequences. A mortgage lender will often require a separate security agreement and UCC-1, which is the document filed in the public records to provide evidence of a security agreement.Lenders do this so that if there is later a default and argument regarding whether specific additions to the real estate constitute real or personal property, the lender is covered both ways. Formerly known as a chattel mortgage.

References in periodicals archive ?
The ROK-Slovenia social security agreement, signed today, mainly calls for exempting the two countries dispatched workers and self-employed people from making pension contributions in their host country for the first five years of their stay (exemption period is extendable, if agreed), as well as aggregating the contribution periods in their home and host countries.
QNA Doha Qatar, represented by the Ministry of Defence, signed a security agreement with North Atlantic Treaty Organization (NATO) on its premises in Brussels.
Qatar signed a security agreement with Nato at the alliance's headquarters in Brussels on Tuesday.
KUWAIT, Oct 26 (KUNA) -- Kuwaiti Deputy Foreign Minister Khaled Al-Jarallah said on Wednesday the unified Gulf security agreement has become a historic necessity amid the current regional security circumstances and developments.
CytRx, a biopharmaceutical research and development company, has signed a long-term loan and security agreement with Hercules Technology Growth Capital and Hercules Technology III.
BAGHDAD / NINA / The member of the security and defense parliamentary committee Hamid al-Mutlaq criticized the slow pace of the United States in the implementation of the items stipulated in the security agreement signed with them.
Sign Bilateral Security Agreement Afghanistan and the US have signed a Bilateral Security Agreement (B.
In a statement, she pointed out that the Iraqi people "reject the entry of any foreign troops within the international alliance under the pretext of fighting Da'ish organization without prior coordination or security agreement with Iraq.
Prior to his departure to Pakistan at Tehran's Mehrabad International Airport on Monday, Rahmani Fazli said pursuing implementation of the Tehran-Islamabad security agreement will be a top agenda in his visit to Pakistan.
One of the requirements for obtaining a valid security interest with priority over future security interests and liens in the same collateral is for the creditor to properly identify its collateral in both (i) the security agreement executed by its customer, and, just as importantly, (ii) the publicly filed Uniform Commercial Code (UCC) financing statement.
Dubai: A security agreement signed by Gulf Cooperation Council states has become the subject of controversy in the region, escalating into a fierce public debate in Kuwait that has divided the public.
WASHINGTON, Rabi'II 27, 1435, Feb 27, 2014, SPA -- NATO defense ministers convened a two-day meeting here Wednesday with a renewed warning that they are prepared to withdraw all of their troops from Afghanistan without a signed security agreement.

Full browser ?