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Secured Party
Practical Law Glossary Item 8-382-3802 (Approx. 3 pages)
Glossary
Secured Party
Defined in the UCC as:
- A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding.
- A person that holds an agricultural lien.
- A consignor.
- A trustee, indenture trustee, agent, collateral agent, or other representative in whose favor a security interest or agricultural lien is created or provided for.
For more information on taking a security interest over personal property, see Practice Note, UCC Creation, Perfection, and Priority of Security Interests.