Common use of Nature of the security interest Clause in Contracts

Nature of the security interest. Unless we agree otherwise in writing, our security interest must be a first-ranking exclusive security interest in the Goods. We must be the only person with a security interest in the Goods and you cannot grant security over the Goods to anyone else without our consent.

Nature of the security interest. Unless we agree otherwise in writing, our security interest must be a first-ranking exclusive security interest in the Goods. Goods We must be the only person with a security interest in the Goods and you cannot grant security over the Goods to anyone else without our consent.

Nature of the security interest. Unless we agree otherwise in writing, our security interest must be a first-ranking exclusive security interest in the GoodsSecured Property. We must be the only person with a security interest in the Goods Secured Property and you cannot grant security over the Goods Secured Property to anyone else without our consent.