Common Contracts
1 similar Security Agreement contracts
The Transactional LawyerSecurity Agreement • March 27th, 2024
In an article in this newsletter last month on superfluous words, Stephen Sepinuck noted that in a security agreement, the granting clause “hereby pledges, collaterally assigns, mortgages, transfers and grants” could be shortened to “hereby transfers” or “hereby grants” without any reduction in meaning.1 Curiously, Sepinuck did not treat the “hereby” as superfluous, apparently implying that it serves a useful purpose. This article makes explicit what Sepinuck left to implication.
