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Written Security Agreement
A legally binding document that creates a security interest, giving the lender a right to seize collateral if the borrower fails to meet the obligations of the loan.
Collateral
an asset or property that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid.
Buyer
A person or organization that acquires goods or services from a seller in exchange for money.
Ordinary Course
Activities that are carried out in the normal and usual way of conducting business.
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