Security Agreement
type: Class
preferred label: Securities Agreement
subclass of: R7ddsah86bL3tQ5OmO9B7PB
definition: A "Security Agreement" is a legal contract between a debtor and a secured party that outlines the collateral provided by the debtor to secure a loan or other obligation. The agreement defines the terms under which the secured party can take possession of the collateral in the event the debtor defaults.