Possessory security right definition
Possessory security right means a security right in tangibles that are in the actual possession of the secured creditor or of another person (other than the debtor or other grantor) holding the asset for the secured creditor.
Possessory security right means a security right in encumbered assets in the possession of a secured creditor or a third party (other than the debtor or the third party grantor) holding the asset for the secured creditor.
Possessory security right means a security right in tangible property that is in the possession of the secured creditor;