Definition of Excluded Collateral Clauses
(Security Agreement)

Summary

These Definition of Excluded Collateral clauses are used in a security agreement to delineate specific assets or categories of assets that are negotiated to be excluded from the collateral pool, or are excluded for legal or practical reasons. These clauses include practical guidance and drafting notes. Read these clauses in conjunction with Collateral Package Documentation (Security Agreement). For a full template security agreement, see Security Agreement. For a full listing of key content that provides an overview of the creation, perfection, and priority of security interests under the Uniform Commercial Code (UCC), see Security Interests Resource Kit. For a full listing of key content covering asset-based lending, including agreements, security, guaranties, perfection, and priorities, see Asset-Based Lending Resource Kit.