General Security Interest definition
General Security Interest means any perfected and enforceable Security Interest of a Creditor in Collateral, however arising, other than a Specific Security Interest or a Priority Security Interest.
General Security Interest is any perfected (by filing financing statements under the Uniform Commercial Code or otherwise) and enforceable security interest of a Creditor in any Collateral however arising, including purchase money security interests.
Examples of General Security Interest in a sentence
HSBC, BBH (as Agent and as Lender) and each other Lender hereby acknowledge and agree that HSBC does not have its own, or share in the Agent’s, General Security Interest in the Collateral and is not a party to the Security Agreement.