{"component": "clause", "props": {"groups": [{"size": 11, "snippet": "The full amount of this Note is secured by the Collateral identified and described as security therefor in the Security Agreement executed by and delivered by Borrower to Lender. Borrower shall not, directly or indirectly, create, permit or suffer to exist, and shall defend the Collateral against and take such other action as is necessary to remove, any Lien on or in the Collateral, or in any portion thereof, except as permitted pursuant to the Security Agreement.", "samples": [{"hash": "btKO765tDj6", "uri": "/contracts/btKO765tDj6#secured-note", "label": "Secured Note and Warrant Purchase Agreement (ARYx Therapeutics, Inc.)", "score": 21.6214923859, "published": true}, {"hash": "glDzuBs8STf", "uri": "/contracts/glDzuBs8STf#secured-note", "label": "Secured Promissory Note (Global Epoint Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "this-note", "type": "clause", "offset": [19, 28]}, {"key": "executed-by", "type": "clause", "offset": [130, 141]}, {"key": "by-borrower", "type": "clause", "offset": [156, 167]}, {"key": "to-lender", "type": "definition", "offset": [168, 177]}, {"key": "borrower-shall", "type": "clause", "offset": [179, 193]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [199, 221]}, {"key": "defend-the-collateral", "type": "clause", "offset": [268, 289]}, {"key": "other-action", "type": "definition", "offset": [312, 324]}, {"key": "pursuant-to-the-security-agreement", "type": "clause", "offset": [433, 467]}], "hash": "8150d86fe15c134200aba4547f257fea", "id": 3}, {"size": 22, "snippet": "In addition to the protections given to the Note Holder under this Note, a Mortgage, Mortgage Deed, Deed of Trust, or Security Deed (the \u201cSecurity Instrument\u201d), dated the same date as this Note, protects the Note Holder from possible losses that might result if I do not keep the promises that I make in this Note. That Security Instrument also describes how and under what conditions I may be required to make immediate payment of all amounts I owe under this Note. Some of those conditions are described as follows: If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without \u2587\u2587\u2587\u2587\u2587\u2587\u2019s prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, Lender will not exercise this option if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender will give Borrower notice of acceleration. The notice will provide a period of not less than 30 days from the date the notice is given in accordance with Section 11 within which Borrower must pay all sums secured by this Security Instrument. If \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 fails to pay these sums prior to, or upon, the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower and will be entitled to collect all expenses incurred in pursuing such remedies, including, but not limited to: (a) reasonable attorneys\u2019 fees and costs; (b) property inspection and valuation fees; and (c) other fees incurred to protect \u2587\u2587\u2587\u2587\u2587\u2587\u2019s Interest in the Property and/or rights under this Security Instrument.", "samples": [{"hash": "aSq78RD9OGy", "uri": "/contracts/aSq78RD9OGy#secured-note", "label": "Loan Agreement", "score": 35.1416511536, "published": true}, {"hash": "gL1PqNw59Vk", "uri": "/contracts/gL1PqNw59Vk#secured-note", "label": "Loan Agreement", "score": 34.9988975525, "published": true}, {"hash": "vH1hO6vWmI", "uri": "/contracts/vH1hO6vWmI#secured-note", "label": "Loan Agreement", "score": 34.8483428955, "published": true}], "snippet_links": [{"key": "in-addition-to-the", "type": "clause", "offset": [0, 18]}, {"key": "note-holder", "type": "clause", "offset": [44, 55]}, {"key": "this-note", "type": "clause", "offset": [62, 71]}, {"key": "a-mortgage", "type": "definition", "offset": [73, 83]}, {"key": "mortgage-deed", "type": "definition", "offset": [85, 98]}, {"key": "deed-of-trust", "type": "definition", "offset": [100, 113]}, {"key": "security-deed", "type": "definition", "offset": [118, 131]}, {"key": "security-instrument", "type": "clause", "offset": [138, 157]}, {"key": "payment-of", "type": "clause", "offset": [421, 431]}, {"key": "interest-in-the-property", "type": "definition", "offset": [560, 584]}, {"key": "if-borrower", "type": "clause", "offset": [612, 623]}, {"key": "natural-person", "type": "clause", "offset": [633, 647]}, {"key": "beneficial-interest", "type": "definition", "offset": [654, 673]}, {"key": "prior-written-consent", "type": "clause", "offset": [727, 748]}, {"key": "lender-may", "type": "definition", "offset": [750, 760]}, {"key": "payment-in-full", "type": "definition", "offset": [779, 794]}, {"key": "sums-secured", "type": "definition", "offset": [802, 814]}, {"key": "applicable-law", "type": "clause", "offset": [924, 938]}, {"key": "notice-of-acceleration", "type": "definition", "offset": [999, 1021]}, {"key": "the-notice", "type": "clause", "offset": [1023, 1033]}, {"key": "provide-a", "type": "definition", "offset": [1039, 1048]}, {"key": "period-of", "type": "definition", "offset": [1049, 1058]}, {"key": "in-accordance-with", "type": "definition", "offset": [1115, 1133]}, {"key": "section-11", "type": "definition", "offset": [1134, 1144]}, {"key": "fails-to-pay", "type": "clause", "offset": [1234, 1246]}, {"key": "prior-to", "type": "definition", "offset": [1258, 1266]}, {"key": "expiration-of", "type": "clause", "offset": [1281, 1294]}, {"key": "notice-or-demand", "type": "clause", "offset": [1393, 1409]}, {"key": "expenses-incurred", "type": "definition", "offset": [1458, 1475]}, {"key": "not-limited", "type": "clause", "offset": [1518, 1529]}, {"key": "reasonable-attorneys", "type": "definition", "offset": [1538, 1558]}, {"key": "fees-and-costs", "type": "clause", "offset": [1560, 1574]}, {"key": "property-inspection", "type": "clause", "offset": [1580, 1599]}, {"key": "other-fees", "type": "definition", "offset": [1628, 1638]}], "hash": "2d81f08d169f96da5561fc10f919f7b4", "id": 1}, {"size": 16, "snippet": "The full amount of this Note is secured by the Collateral (as defined in the Security Agreement) identified and described as security therefor in the Security Agreement.", "samples": [{"hash": "i81U7xBzdPX", "uri": "/contracts/i81U7xBzdPX#secured-note", "label": "Convertible Note (Seelos Therapeutics, Inc.)", "score": 32.8959617615, "published": true}, {"hash": "6Kxwkqm2lOq", "uri": "/contracts/6Kxwkqm2lOq#secured-note", "label": "Convertible Note (Seelos Therapeutics, Inc.)", "score": 31.9596176147, "published": true}, {"hash": "7gemSe9JuII", "uri": "/contracts/7gemSe9JuII#secured-note", "label": "Note Agreement (COMSovereign Holding Corp.)", "score": 31.6605072021, "published": true}], "snippet_links": [{"key": "this-note", "type": "clause", "offset": [19, 28]}, {"key": "the-collateral", "type": "definition", "offset": [43, 57]}, {"key": "the-security-agreement", "type": "clause", "offset": [73, 95]}], "hash": "4fd9f3e9aa841101e48b573e6ee4837c", "id": 2}, {"size": 8, "snippet": "The full amount of this Note plus any other fees and expenses due hereunder or under any other Transaction Document is secured by the Collateral (as defined in the Security Agreement) identified and described as security therefor in the Security Agreement, the Pledge Agreement, the Company Patent Security Agreement and the Company Trademark Security Agreement. In addition, the obligations are also guaranteed by the Company\u2019s Subsidiaries, pursuant to the Subsidiary Guaranty, and all of Subsidiaries\u2019 obligations under the Subsidiary Guaranty are secured by the \u201cCollateral\u201d (as defined in the Subsidiary Security Agreement) identified and described as security therefor in the Subsidiary Security Agreement.", "samples": [{"hash": "gMOd1Ijrs2U", "uri": "/contracts/gMOd1Ijrs2U#secured-note", "label": "Note Agreement (Marizyme, Inc.)", "score": 33.577003479, "published": true}, {"hash": "6xNI0pEJ1IQ", "uri": "/contracts/6xNI0pEJ1IQ#secured-note", "label": "Note Agreement (Marizyme, Inc.)", "score": 33.577003479, "published": true}, {"hash": "aGxSMzF5U3R", "uri": "/contracts/aGxSMzF5U3R#secured-note", "label": "Note (Marizyme Inc)", "score": 32.6269683838, "published": true}], "snippet_links": [{"key": "this-note", "type": "clause", "offset": [19, 28]}, {"key": "other-fees-and-expenses", "type": "clause", "offset": [38, 61]}, {"key": "transaction-document", "type": "clause", "offset": [95, 115]}, {"key": "the-collateral", "type": "definition", "offset": [130, 144]}, {"key": "the-security-agreement", "type": "clause", "offset": [160, 182]}, {"key": "the-pledge-agreement", "type": "clause", "offset": [257, 277]}, {"key": "company-patent-security-agreement", "type": "definition", "offset": [283, 316]}, {"key": "company-trademark-security-agreement", "type": "definition", "offset": [325, 361]}, {"key": "in-addition", "type": "clause", "offset": [363, 374]}, {"key": "the-obligations", "type": "clause", "offset": [376, 391]}, {"key": "by-the-company", "type": "clause", "offset": [412, 426]}, {"key": "pursuant-to-the", "type": "clause", "offset": [443, 458]}, {"key": "obligations-under-the-subsidiary-guaranty", "type": "clause", "offset": [505, 546]}, {"key": "subsidiary-security-agreement", "type": "definition", "offset": [598, 627]}], "hash": "4b4f46e375844cd4708754d421f1871c", "id": 5}, {"size": 4, "snippet": "The full amount of this Note is secured by the Collateral identified and described as security therefor in the Security Agreement executed by and delivered by Borrower to Lender.", "samples": [{"hash": "l0xWvkDDgWW", "uri": "/contracts/l0xWvkDDgWW#secured-note", "label": "License and Development Agreement (Surgical Laser Technologies Inc /De/)", "score": 18.0, "published": true}, {"hash": "cT0461pS5q", "uri": "/contracts/cT0461pS5q#secured-note", "label": "License and Development Agreement (Photomedex Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "this-note", "type": "clause", "offset": [19, 28]}, {"key": "the-collateral", "type": "definition", "offset": [43, 57]}, {"key": "executed-by", "type": "clause", "offset": [130, 141]}, {"key": "by-borrower", "type": "clause", "offset": [156, 167]}, {"key": "to-lender", "type": "definition", "offset": [168, 177]}], "hash": "1c8147c490998a3a22766ef8d22696a0", "id": 7}, {"size": 6, "snippet": "The full amount of this Note is secured by the Collateral (as defined in the Security Agreement) identified and described as security therefor in the Amended and Restated Security Agreement dated as of June 29, 2020 (as amended and in effect from time to time, the \u201cSecurity Agreement\u201d) by and between the Maker and the Holder.", "samples": [{"hash": "hxDZZxDyhti", "uri": "/contracts/hxDZZxDyhti#secured-note", "label": "Convertible Note Agreement (Bio Key International Inc)", "score": 31.496919632, "published": true}], "snippet_links": [{"key": "this-note", "type": "clause", "offset": [19, 28]}, {"key": "the-collateral", "type": "definition", "offset": [43, 57]}, {"key": "the-security-agreement", "type": "clause", "offset": [73, 95]}, {"key": "amended-and-restated-security-agreement", "type": "definition", "offset": [150, 189]}, {"key": "dated-as-of", "type": "definition", "offset": [190, 201]}, {"key": "as-amended", "type": "definition", "offset": [217, 227]}, {"key": "in-effect", "type": "definition", "offset": [232, 241]}, {"key": "from-time-to-time", "type": "clause", "offset": [242, 259]}, {"key": "the-holder", "type": "clause", "offset": [316, 326]}], "hash": "33998efcdf944a2e5c7f7f1dd0038bd1", "id": 6}, {"size": 9, "snippet": "To secure payment of all amounts due under this Note, Borrower grants Lender a security interest in all of its personal property, now existing or hereafter arising, including all accounts, inventory, equipment, general intangibles, financial assets, investment property, securities, deposit accounts, and the proceeds thereof. Borrower authorizes Lender to file a financing statement to perfect this security interest.", "samples": [{"hash": "ljwL9Ug4Beo", "uri": "/contracts/ljwL9Ug4Beo#secured-note", "label": "Revenue Loan Agreement", "score": 32.3455276489, "published": true}, {"hash": "aGnjHThsqVo", "uri": "/contracts/aGnjHThsqVo#secured-note", "label": "Revenue Loan Agreement", "score": 25.6536617279, "published": true}, {"hash": "12T7m7LmLv0", "uri": "/contracts/12T7m7LmLv0#secured-note", "label": "Revenue Loan Agreement", "score": 24.262834549, "published": true}], "snippet_links": [{"key": "payment-of", "type": "clause", "offset": [10, 20]}, {"key": "all-amounts-due", "type": "clause", "offset": [21, 36]}, {"key": "this-note", "type": "clause", "offset": [43, 52]}, {"key": "security-interest", "type": "definition", "offset": [79, 96]}, {"key": "personal-property", "type": "definition", "offset": [111, 128]}, {"key": "all-accounts", "type": "clause", "offset": [175, 187]}, {"key": "general-intangibles", "type": "definition", "offset": [211, 230]}, {"key": "financial-assets", "type": "clause", "offset": [232, 248]}, {"key": "investment-property", "type": "definition", "offset": [250, 269]}, {"key": "deposit-accounts", "type": "definition", "offset": [283, 299]}, {"key": "to-file", "type": "definition", "offset": [354, 361]}, {"key": "financing-statement", "type": "clause", "offset": [364, 383]}], "hash": "e62a8760990d4550a4bf4cea72bfb621", "id": 4}, {"size": 3, "snippet": "The Secured Promissory Note dated as of March 29, 2011, by the Company for the benefit of Behringer Harvard Holdings, LLC.", "samples": [{"hash": "6xp62llzDCB", "uri": "/contracts/6xp62llzDCB#secured-note", "label": "Advisory Management Agreement (Behringer Harvard Opportunity REIT I, Inc.)", "score": 25.4120464325, "published": true}, {"hash": "2idcd8ZQEHu", "uri": "/contracts/2idcd8ZQEHu#secured-note", "label": "Advisory Management Agreement (Behringer Harvard Opportunity REIT I, Inc.)", "score": 22.6139621735, "published": true}, {"hash": "8OBIUzXRRgn", "uri": "/contracts/8OBIUzXRRgn#secured-note", "label": "Advisory Management Agreement (Behringer Harvard Opportunity REIT I, Inc.)", "score": 20.3689250946, "published": true}], "snippet_links": [{"key": "secured-promissory-note", "type": "definition", "offset": [4, 27]}, {"key": "dated-as-of", "type": "definition", "offset": [28, 39]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [71, 89]}, {"key": "behringer-harvard", "type": "definition", "offset": [90, 107]}], "hash": "ac7c72f99c0d0940f5dbbb902b4bd996", "id": 8}, {"size": 3, "snippet": "$[\u25cf] No. [\u25cf] March [\u25cf], 2011 FOR VALUE RECEIVED, CT Legacy Series 2 Note Issuer, LLC, a Delaware limited liability company (the \u201cIssuer\u201d), hereby promises to pay to [\u25cf], (the \u201cHolder\u201d), the principal amount of [\u25cf] United States Dollars ($[\u25cf]) (the \u201cInitial Principal Amount\u201d), as represented by this Secured Note (this \u201cNote\u201d), in accordance with the terms herein.", "samples": [{"hash": "c981663sqyQ", "uri": "/contracts/c981663sqyQ#secured-note", "label": "Exchange Agreement (Capital Trust Inc)", "score": 22.3524990082, "published": true}, {"hash": "7Hcy2xKOa0d", "uri": "/contracts/7Hcy2xKOa0d#secured-note", "label": "Contribution and Exchange Agreement (Capital Trust Inc)", "score": 22.3524990082, "published": true}], "snippet_links": [{"key": "for-value-received", "type": "clause", "offset": [29, 47]}, {"key": "series-2", "type": "definition", "offset": [59, 67]}, {"key": "note-issuer", "type": "definition", "offset": [68, 79]}, {"key": "a-delaware-limited-liability-company", "type": "clause", "offset": [86, 122]}, {"key": "pay-to", "type": "definition", "offset": [158, 164]}, {"key": "the-principal-amount", "type": "definition", "offset": [186, 206]}, {"key": "united-states-dollars", "type": "clause", "offset": [214, 235]}, {"key": "initial-principal-amount", "type": "clause", "offset": [249, 273]}, {"key": "represented-by", "type": "definition", "offset": [280, 294]}, {"key": "in-accordance-with", "type": "definition", "offset": [328, 346]}, {"key": "the-terms", "type": "definition", "offset": [347, 356]}], "hash": "9dae6664637d0d3659d237f1939ca979", "id": 10}, {"size": 3, "snippet": "This Note is secured by all of \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2019s now owned or hereafter acquired assets pursuant to that certain Security Agreement executed by Borrower on the date hereof.", "samples": [{"hash": "f8q9WHivoty", "uri": "/contracts/f8q9WHivoty#secured-note", "label": "Senior Secured Line of Credit (BMC Capital, Inc.)", "score": 26.4113616943, "published": true}, {"hash": "ei69F6jwvkr", "uri": "/contracts/ei69F6jwvkr#secured-note", "label": "Senior Secured Line of Credit (BMC Capital, Inc.)", "score": 26.4113616943, "published": true}, {"hash": "etB1jXRz1qN", "uri": "/contracts/etB1jXRz1qN#secured-note", "label": "Senior Secured Line of Credit (BMC Capital, Inc.)", "score": 25.7378501892, "published": true}], "snippet_links": [{"key": "this-note", "type": "clause", "offset": [0, 9]}, {"key": "acquired-assets", "type": "definition", "offset": [65, 80]}, {"key": "pursuant-to", "type": "definition", "offset": [81, 92]}, {"key": "by-borrower", "type": "clause", "offset": [134, 145]}, {"key": "date-hereof", "type": "clause", "offset": [153, 164]}], "hash": "55e131aecfd34d88668bcc0ccbec0eb8", "id": 9}], "next_curs": "ClUST2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjELEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhVzZWN1cmVkLW5vdGUjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 182, "children": [["governing-law", "Governing Law"], ["severability", "Severability"], ["", ""], ["remedies-upon-event-of-default", "Remedies Upon Event of Default"], ["usa-patriot-act", "USA PATRIOT Act"]], "title": "Secured Note", "parents": [["purchase-agreement", "Purchase Agreement"], ["miscellaneous", "Miscellaneous"], ["counterparts", "Counterparts"], ["successors-and-assigns", "SUCCESSORS AND ASSIGNS"], ["purchase-price", "PURCHASE PRICE"]], "id": "secured-note", "related": [["note", "NOTE", "NOTE"], ["convertible-note", "Convertible Note", "Convertible Note"], ["initial-note-a-3-holder", "Initial Note A-3 Holder", "Initial Note A-3 Holder"], ["supplier-note", "Supplier \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Note", "Supplier \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Note"], ["note-purchase-agreement", "Note Purchase Agreement", "Note Purchase Agreement"]], "related_snippets": [], "updated": "2026-04-01T05:53:38+00:00", "also_ask": ["What collateral descriptions are essential to ensure enforceability of the secured note?", "How can subordination or intercreditor issues be strategically addressed in negotiation?", "What are the most common pitfalls that could render the security interest invalid or unenforceable?", "How do secured note terms compare to unsecured notes in terms of lender protection and remedies?", "What are the key legal tests courts apply to determine the validity and priority of the security interest?"], "drafting_tip": "Specify collateral, outline default remedies, and define repayment terms to ensure enforceability, clarify parties\u2019 rights, and minimize disputes.", "explanation": "A Secured Note is a debt instrument that is backed by specific collateral to provide security for the lender. In practice, this means that if the borrower defaults on repayment, the lender has a legal right to seize the designated assets, such as property, equipment, or inventory, to recover the outstanding debt. This clause primarily functions to reduce the lender's risk by ensuring there is a tangible asset available to satisfy the debt, thereby making the loan more secure and potentially allowing the borrower to obtain more favorable terms."}, "json": true, "cursor": ""}}