Legal Contracts Software Generator - Legal Contract Agreement Template for Floating Lien

Sure! Below is a sample floating lien agreement document in Markdown format: ```markdown # Floating Lien Agreement **This Floating Lien Agreement ("Agreement") is made and entered into as of [DATE], by and between:** **[Lender's Name]** [Address] [City, State, Zip Code] ("Lender") AND **[Borrower's Name]** [Address] [City, State, Zip Code] ("Borrower") **1. Definitions** For purposes of this Agreement, the following terms are defined as follows: - **Collateral**: All present and future assets, goods, inventory, equipment, and receivables of the Borrower. - **Loan Amount**: The principal sum of [AMOUNT] ($[AMOUNT]) loaned to Borrower by Lender under this Agreement. **2. Grant of Lien** The Borrower hereby grants to the Lender a floating lien on and security interest in the Collateral as security for the repayment of the Loan Amount, including all interest, fees, and other amounts incurred under this Agreement. **3. Representations and Warranties** The Borrower represents and warrants to the Lender that: - The Borrower is duly organized, validly existing, and in good standing under the laws of [STATE]. - The Borrower has full power and authority to enter into and perform its obligations under this Agreement. - The Collateral is free and clear of any other liens, claims, or encumbrances, except as disclosed to the Lender. **4. Use of Proceeds** The Borrower agrees to use the Loan Amount solely for [SPECIFIC PURPOSE]. **5. Events of Default** An Event of Default occurs if: - The Borrower fails to make any payment when due under this Agreement. - The Borrower breaches any representation, warranty, or covenant in this Agreement. - The Borrower becomes insolvent or ceases business operations. **6. Remedies** Upon the occurrence of an Event of Default, the Lender shall have the right to: - Declare the entire Loan Amount immediately due and payable. - Take possession of the Collateral and sell it in accordance with applicable law. - Exercise any other rights and remedies available to the Lender at law or in equity. **7. Governing Law** This Agreement shall be governed by and construed in accordance with the laws of the State of [STATE]. **8. Miscellaneous** - This Agreement constitutes the entire agreement between the parties regarding the subject matter hereof. - This Agreement may only be amended in writing signed by both parties. - Any notices required or permitted under this Agreement shall be delivered in writing to the addresses set forth above. **IN WITNESS WHEREOF, the parties hereto have executed this Floating Lien Agreement as of the date first above written.** _________________________ **[Lender's Name]** Lender _________________________ **[Borrower's Name]** Borrower [Notary Block, if necessary] ``` **Please Note:** Modify the placeholders (like `[DATE]`, `[AMOUNT]`, `[STATE]`, and `[SPECIFIC PURPOSE]`) with the relevant details as per your requirements. It's advisable to consult with a legal professional to ensure compliance with applicable laws and regulations before finalizing any legal documents.