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Solve the equation.
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Secured Loan
A loan backed by collateral, providing the lender a right to claim the asset if the borrower defaults on the loan.
Priority
The order in which rights, obligations, or claims are ranked or considered, often in a legal context.
Default
Failure to fulfill a duty or obligation, typically in the context of financial agreements such as failing to make loan payments.
Obtaining Control
The act of gaining the power or authority to manage or direct something or someone.
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