Save, sign, print, and download your document when you are done. Most importantly, the Agreement includes a complete description of the personal property being used as collateral to secure the loan and the location where this property is being kept. Security Agreement powered by formxls.com. No other creditor has a security interest in the Collateral except the following: _____. Ltd.) Corporate Office Walsons House 461, Udyog Vihar, Phase V Gurgaon-122016, Haryana India Telephone +91-124-4718888 E-mail Contact.us@securitas-india.com www.securitas.in This Contract is made on _____, between: 1. If the Debtor defaults on {his/her} requirements outlined in {promissory note} at any time or if the Debtor declares bankruptcy, the Secured Party may declare the Property due and payable in full. A written contract between you and your security guards play a vital role in your business transaction. A Security Agreement is a document used by a Borrower and a Lender that gives the Lender the right to take possession of collateral being put up by the Borrower in case the Borrower does not meet their obligations in paying back a loan.The document creates what is known as a security interest. Should the Debtor need to relocate the Property, {he/she} must notify the Secured Party first. If there is an associated Secured Promissory Note, it is a good idea to keep the Agreement in the same location as the Note for future reference. On expiry or earlier determination of this agreement, the company and the security guards shall vacate the factory premises, without in any way causing any damage to the said premises and the factory’s property therein. This agreement is drafted in order to provide a contract between the parties for the terms and conditions for security services. The Debtor confirms that the Property is free of all outside debts, liens and claims. security officers and shall not assign any security officers to perform the Services if any information disclosed in such background check reveals a criminal conviction or otherwise indicates that such person, in any way, might not perform the Services in accordance with the standards applicable under this Agreement. A security interest is an interest in property created by the Security Agreement to guarantee the performance of an obligation, usually the repayment of a debt. 2. and payable as therein provided and a second note in the amount of $ _____ due _____, 20 ___. In this process, the creditor and debtor sign a contract that includes the details of the security and the terms … Formatted and ready to use with Microsoft Word, Google Docs, or any other word processor that can open the .DOC file format. This drafting of this agreement will help to build up trust, confidence and expectation between the service provider and the … It lets you prepare a comprehensive sample contract so that you can aid your business in a smooth manner by the proper functioning of the security services. 2.2 Possession. The Security Agreement grants a security interest in the Borrower or Guarantor's personal guaranty as described in the document to the Secured Party (the CDC). The Debtor agrees to keep the Property in {condition} and to notify the Secured Party immediately if the Property is lost, stolen, damaged or devalued in any way. The Sample service level agreement is an agreement that is drafted by the service provider for presenting it to their clients. Client’s security interest on the Collateral shall remain in effect for so long as any Obligations or other duties are outstanding. The Debtor agrees not to use the Property in violation of any local, state or federal laws. 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