# Purchase-Money Collateral Agreement
**This Purchase-Money Collateral Agreement ("Agreement") is made and entered into as of [Date], by and between:**
**Seller:**
[Seller's Full Name]
[Seller's Address]
[City, State, Zip Code]
[Email Address]
[Phone Number]
**Buyer:**
[Buyer's Full Name]
[Buyer's Address]
[City, State, Zip Code]
[Email Address]
[Phone Number]
**Recitals**
WHEREAS, Seller agrees to sell, and Buyer agrees to purchase, certain goods as described herein, and;
WHEREAS, the Buyer will secure the purchase price by granting a purchase-money security interest in the goods being purchased.
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows:
## 1. **Description of Goods**
The Seller agrees to sell, and the Buyer agrees to purchase the following goods ("Goods"):
- [Description of Goods]
- [Quantity]
- [Model/Serial Number, if applicable]
- [Any other relevant details]
## 2. **Purchase Price**
The total purchase price for the Goods shall be [Total Purchase Price in Dollars], which Buyer agrees to pay according to the terms specified in Section 3 of this Agreement.
## 3. **Payment Terms**
- The Buyer shall make payment to the Seller as follows:
- [Payment Schedule, e.g., "A deposit of $X shall be paid upon signing this Agreement." OR "Full payment shall be made upon delivery."]
- All payments shall be made in the form of [check, wire transfer, etc.].
## 4. **Security Interest**
- The Buyer hereby grants to the Seller a purchase-money security interest in the Goods to secure the payment of the purchase price.
- In the event of a default by the Buyer in making any payments due under this Agreement, the Seller shall have the right to take possession of the Goods and dispose of them in accordance with applicable law.
## 5. **Delivery of Goods**
- The Goods shall be delivered on or before [Delivery Date] to Buyer at [Delivery Location].
- Risk of loss or damage to the Goods shall pass to the Buyer upon delivery.
## 6. **Representations and Warranties**
- The Seller represents and warrants that:
- The Seller has the right to sell the Goods;
- The Goods are free of any liens, encumbrances, or applicable claims.
- The Buyer acknowledges that they have inspected the Goods and accepts them in their current condition.
## 7. **Governing Law**
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
## 8. **Miscellaneous**
- **Amendment:** This Agreement may only be amended in writing signed by both parties.
- **Severability:** If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
- **Entire Agreement:** This Agreement constitutes the entire understanding between the parties regarding the subject matter hereof and supersedes all prior agreements and understandings.
**IN WITNESS WHEREOF, the parties hereto have executed this Purchase-Money Collateral Agreement as of the date first above written.**
**Seller:**
_____________________________
[Seller's Full Name]
Date: _______________________
**Buyer:**
_____________________________
[Buyer's Full Name]
Date: _______________________
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*This document is a template and should be customized to meet your specific needs and legal requirements. It is advisable to consult with a legal professional before signing any legal agreements.*