This security agreement with copyright as collateral template has 5 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our security agreement with copyright as collateral template:
SECURITY AGREEMENT WITH COPYRIGHT AS COLLATERAL This Security Agreement is made and effective [DATE], BETWEEN: [SECURED PARTY NAME] (the "Secured Party") a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the "Borrower") a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] Background Information On even date herewith, Secured Party has extended a loan to Borrower, in the original principal amount equal to [amount] which indebtedness is represented by a certain promissory note dated [date] executed by Borrower in favor of Secured Party. Secured Party has required Borrower to give certain collateral for the indebtedness evidenced by the Promissory Note in the form of certain [country] Copyrights described in Exhibit "A" attached hereto (the "Copyrights" or the "Collateral"). Borrower represents and warrants to the Secured Party that the Borrower is the sole and exclusive owner of the Copyrights and has full and unrestricted right, title and interest in and to said Copyrights. NOW, THEREFORE, in consideration of the premises set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower agrees to grant Secured Party a security interest in and to said Copyrights as follows: GRANT OF SECURITY INTEREST Grant of Security Interest Borrower hereby grants and conveys to the Secured Party, a first priority security interest as defined under [LAW], for the benefit of the Secured Party and the Secured Party's successors and assigns, in and to the Borrower's entire right, title and interest in and to the Copyrights, including but not limited to (i) all of the exclusive rights of the owner of a registered copyright under the [COUNTRY] Copyright Act, (ii) the right to file copyright renewals with the [COUNTRY] Copyright Office, (iii) the right to assert that the exclusive copyright has been infringed by a third party, (iv) the right to collect damages for copyright infringement, including the right to elect statutory damages and recover costs and attorney fees, (v) the right to receive all income, including royalties, mechanical royalties, damages for past and future infringement, and all other income and revenues of every nature and kind relative to such Copyrights, (vi) all rights related to the materials covered by the Copyrights throughout the world, (vii) the right to make and control derivative works based upon the original Copyrighted material and to assert ownership of such derivative works, (viii) the right to publish, reproduce, distribute, and publicly perform the Copyrighted works, (ix) the right to proceeds from any of the above. Obligations Secured The security granted hereunder shall be security for the prompt payment and performance of the Obligations. The Obligations shall include any and all debts, obligations and liabilities that the Borrower may have to the Secured Party, including but not limited to all obligations set forth in the Promissory Note, including but not limited to principal payment, interest, penalties and periodic payments. USE AND ENJOYMENT PRIOR TO DEFAULT So long as Borrower does not commit an Event of Default or an Event of Default does not otherwise occur, Borrower shall maintain full use and enjoyment of the Copyrights to use consistent with and subject to the terms of this Agreement. REMEDIES UPON DEFAULT On occurrence of an Event of Default, Secured Party shall have the following remedies: Secured party may, at any time after default, without notice to Borrower, declare all or any of the obligations immediately due and payable. Secured party will have, in addition to all other rights and remedies, the rights and remedies of a Secured Party under [LAW], including, without limitation, the right to sell, lease, or otherwise dispose of any or all of the Collateral. After deducting all costs and expenses of every kind incurred in, or incidental to, the retaking, holding, advertising, preparing for sale, or the selling, leasing, or otherwise disposing of the Collateral, including, but not limited to, attorney's fees, legal expenses, and cost of any repair considered necessary by Secured Party, all of which costs and expenses Borrower agrees to pay, Secured Party may apply the net proceeds of any sale, license, lease, or other disposition of the collateral to payment of the obligation or obligations secured, whether due or not, in such order as Secured Party may elect. However, if Secured Party has transferred any of the obligations to another party, the net proceeds of any disposition of Collateral shall be applied first to payment of any notes constituting obligations in the order of their dates beginning with the note of earliest date (a note in extension or renewal being considered as if of the same date as the original note) and then to payment of any other obligations, whether due or not, in such order as Secured Party may elect. In applying net proceeds to payment of obligations, proper rebate for any unearned interest or discount will be made. Whenever an attorney is employed to collect any obligation or to enforce any right of Secured Party against Borrower under this security agreement, whether by suit or other means, Borrower agrees to pay an attorney's fees. EVENTS OF DEFAULT The following shall constitute Events of Default hereunder: Any failure to make any payment as required under the Promissory Note on or before the due date thereof. Any failure to perform any act required under the Promissory Note or under the terms of this Agreement. Lender determines that any of the representations and warranties made by the Borrower hereunder are untrue, inaccurate or misleading or have become untrue, inaccurate or misleading. BORROWER COVENANTS, REPRESENTATIONS AND WARRANTIES Borrower warrants, represents and covenants with and to the Borrower the following: The Borrower has full right, power and authority to execute and deliver this Security Agreement and to grant the security interest in the Collateral as provided herein. The execution, delivery and performance of this Security Agreement has been duly authorized by all necessary corporate action.
