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Collateral
Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default.
Debtor
An individual or entity that owes money or an obligation to another, the creditor.
Secured Party
A lender or creditor who has an interest, typically through a lien, in the collateral offered by a borrower or debtor to secure a loan or obligation.
Obligation
A legal or moral duty or responsibility one party has towards another.
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