Fillable Security Agreement Template (January 2014) printable pdf download

Security Agreement Template (January 2014)

Download a blank fillable Security Agreement Template (January 2014) in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete Security Agreement Template (January 2014) with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

SECURITY AGREEMENT

THIS SECURITY AGREEMENT (this “Agreement”), effective as of __________, 201__,

is by and between __________________, LLC a [State where formed] [type of entity] having its

principal place of business at ____________________________ (“Grantor”) and Public Service

Electric and Gas Company, a New Jersey corporation having its principal place of business at 80

Park Plaza, Newark, New Jersey 07102 (“Secured Party”). Grantor and Secured Party are sometimes

referred to as, individually, a “Party” and collectively, the “Parties.”

WHEREAS, concurrently with its execution of this Agreement, Secured Party and Grantor

entered into that certain Solar Loan Agreement (as amended, restated, replaced and/or modified from

time to time, the “Loan Agreement”), dated contemporaneously herewith; and

WHEREAS, in consideration of, and as security for, Secured Party’s extension of the

principal amount of the Loan (as such term is defined in the Loan Agreement), Grantor and Secured

Party enter into this Agreement.

NOW, THEREFORE, in consideration of the mutual promises herein contained and for other

good and valuable consideration, the receipt and sufficiency of which the Parties hereby

acknowledge, Grantor and Secured Party hereby agree as follows:

Definitions; Interpretations.

1.1

Definitions. As used herein, the following terms shall have the following

meanings:

“Books and Records” has the meaning set forth in Section 2.1(e).

“Business Day” means any day other than a Saturday, a Sunday or any other day on

which commercial banks in the City of Newark, State of New Jersey are required or permitted by law

to close.

“Code” means the Uniform Commercial Code as in force in the State of New Jersey,

as amended or superseded at any time and from time to time.

“Collateral” has the meaning set forth in Section 2.1.

“Construction Agreement” means the agreement between Grantor and one or more

contractor(s) pursuant to which the Project was constructed.

“Documents” means all instruments, files, records, ledger sheets and documents

covering, or relating to, any of the Collateral.

“Environmental Attributes,” for purposes of this Agreement, means an instrument

used to represent the environmental costs and/or benefits associated with a fixed amount of

electricity generation from the Project. For the Project, Environmental Attributes represents the

general environmental benefits of renewable generation such as, for example, and not by means of

exclusion, air pollution avoidance. The exact quantity of the environmental benefit (e.g.. pounds of

SLIII Security Agreement (Commercial)

v. 01/16/14

Security Agreement Template (January 2014)

Related Articles

Related forms

Related Categories