[{"data":1,"prerenderedAt":479},["ShallowReactive",2],{"document-movable-hypothec-long-form-D284":3},{"document":4,"label":23,"preview":11,"thumb":24,"thumb600":25,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":26,"breadcrumb":30,"related":38,"customDescModule":180,"customdescription":6,"mdFm":181,"mdProseHtml":478},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":22},"MOVEABLE HYPOTHEC This Moveable Hypothec (the \"Agreement\") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Grantor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the \"Creditor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHICH PARTIES HAVE AGREED AND DECLARED AS FOLLOWS: INTERPRETATION Definitions The following words and expressions, whenever used in this Deed or in any deed, document or agreement supplemental or ancillary hereto, unless there be something in the subject or the context inconsistent therewith, shall have the following meanings: \"Claims\" shall have the meaning ascribed to it in subsection 2.1.3; \"Creditors\" means [COMPANY NAME] and includes any successor thereto; \"Deed of Hypothec\", \"this Deed\", \"this Deed of Hypothec\", \"these presents\", \"herein\", \"hereby\", \"Hereunder\" and other similar expressions refer collectively to this Deed of Hypothec, its accompanying schedules as well as any and every deed or other instrument which is supplementary or ancillary hereto or in implementation hereof, the whole as same may be amended, supplemented or restated at any time and from time to time; \"Default\" means any one of the events specified in Section 6.1, the occurrence or failure to occur of which constitutes, or with the passage of time or the giving of notice or both, would constitute an Event of Default; \"Event of Default\" shall have the meaning ascribed to it in Section 6.1; \"Grantor\" means [YOUR COMPANY NAME] and includes any successor thereto; \"Hypothecated Property\" shall have the meaning ascribed to it in Section 2.1; \"Inventory\" shall have the meaning ascribed to it in subsection 2.1.4; \"Lien\" means any interest in property or the income or profits therefrom securing an obligation owed to, or a claim by, a person other than the owner of such property, whether such interest is based on common [YOUR COUNTRY LAW], civil [YOUR COUNTRY LAW], statute or contract, and including but not limited to any security interest, hypothec, mortgage, pledge, lien, claim, charge, cession, transfer, assignment, encumbrance, title retention agreement, lessor's interest under a lease which would be capitalized on a balance sheet of the owner of such property or analogous interest in, of or on any property or the income or profits therefrom of a person other than liens incurred in the ordinary course of business and for the purposes thereof, but not in respect of the borrowing of money or the obtaining of credit, and which in the aggregate do not affect in a material manner the use of or the income or profits derived from the property encumbered thereby in the course of the business of the person; \"Obligations\" is the collective reference to all the obligations, present and future, direct and indirect, absolute and contingent, presently owing and due or hereafter to become owing and due to the Creditor by the Grantor whether such obligations result or not from agreements or arrangements between the Grantor and the Creditor or from agreements or arrangements with third parties, pursuant to which the Creditor may in any manner whatsoever become a creditor of the Grantor, or in any other manner whether the Grantor is bound alone or with others as principal or guarantor, including, without limiting the generality of the foregoing, the License Agreement dated [DATE] between [SPECIFY] (a predecessor in title to the Creditor) and the Grantor (the \"Contract\") whereby the Grantor was granted a franchise to operate a [COMPANY NAME] [FULL ADDRESS] [STATE/PROVINCE] (the \"Premises\") and the Acknowledgement of Indebtedness dated [DATE] between the Creditor and the Grantor (the \"Acknowledgement\"); \"Permitted Encumbrances\" means, as at any time, any one or more of the following: The Liens resulting from: Moveable Hypothec granted in favor of the [SPECIFY] registered under number [NUMBER] in the Register of Personal and Moveable Real Rights; Moveable Hypothec granted in favor of the [SPECIFY] registered under number [NUMBER] in the Register of Personal and Moveable Real Rights; Commercial Pledge granted in favor of the [SPECIFY] registered under number [NUMBER] in the Index of Names at the Registry Office for the Registration Division of [STATE/PROVINCE]; Commercial Pledge granted in favor of the [SPECIFY] registered under number [NUMBER] in the Index of Names at the Registry Office for the Registration Division of [STATE/PROVINCE]; Commercial Pledge granted in favor of the [SPECIFY] registered under number [NUMBER] in the Index of Names at the Registry Office for the Registration Division of [STATE/PROVINCE]; Trust Deed of Hypothec, Mortgage and Pledge registered under number [NUMBER] in the Index of Names at the Registry Office for the Registration Division of [STATE/PROVINCE]. The Liens resulting from this Deed or which are specifically authorized by this Deed; any other Lien created or permitted with the written consent of the Creditor. Plural and Masculine Unless there be something in the subject or the context inconsistent therewith, words importing the singular only shall include the plural and vice versa and words importing the masculine gender shall include the feminine gender and vice versa, and any reference to [AMOUNT] shall mean [COUNTRY] [AMOUNT]. Division in Articles The division of this Deed into Articles, Sections, subsections and paragraphs and the insertion of titles are for convenience of reference only and do not affect the meaning or the interpretation of the present Deed. HYPOTHECS Principal Hypothec As a general and continuing collateral security for the performance by the Grantor of the Obligations, the Grantor hereby hypothecates to and in favor of the Creditor, the following property (collectively referred to herein as the \"Hypothecated Property\") to the extent of the sum of [AMOUNT], with interest thereon at the rate of [PERCENTAGE %] per annum: the universality of all of the leasehold improvements, equipment, machinery, tools, motor vehicles, additions, appliances and accessories now owned or held or at any time hereafter acquired or held by the Grantor, wheresoever situate, including without limitation, the leasehold improvements and equipment located in the Premises, together with all the rents, income, fruits, revenues, issues and profits arising therefrom and the present and continuing right to claim for, collect and receive any one and all of the said rents, income, fruits, revenues, issues and profits; all of the rights, titles and interests of the Grantor in, to and under the Memorandum of Agreement of Sublet dated [DATE] between [NUMBER] [COMPANY NAME] [SPECIFY] and the Grantor and the Memorandum of Agreement of Lease dated [DATE] between [NUMBER] [COMPANY NAME] [SPECIFY] in respect of the Premises and all renewals thereof together with the present and continuing right to make a claim thereunder and to enforce or cause the enforcement of all of the said rights, titles and interests of the Grantor;",null,"Movable Hypothec Long Form","14",124,"doc","https://templates.business-in-a-box.com/imgs/1000px/movable-hypothec_long-form-D284.png","https://templates.business-in-a-box.com/imgs/250px/284.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#284.xml",{"title":6,"description":6},[16,19],{"label":17,"url":18},"Finance & Accounting","/templates/finance-accounting/",{"label":20,"url":21},"Business Banking","/templates/business-banking/","movable hypothec long form","Movable Hypothec Long Form 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Delivery","/template/agreement-of-movable-hypothec-without-delivery-D1131","https://templates.business-in-a-box.com/imgs/250px/1131.png",{"label":52,"url":53,"thumb":54,"extension":10},"Articles of Association Long Form","/template/articles-of-association-long-form-D997","https://templates.business-in-a-box.com/imgs/250px/997.png",{"label":56,"url":57,"thumb":58,"extension":10},"License Agreement Long Form","/template/license-agreement-long-form-D1020","https://templates.business-in-a-box.com/imgs/250px/1020.png",{"label":60,"url":61,"thumb":62,"extension":10},"Subordination Agreement Long Form","/template/subordination-agreement-long-form-D424","https://templates.business-in-a-box.com/imgs/250px/424.png",{"label":64,"url":65,"thumb":66,"extension":10},"Exchange of Shares Agreement Long Form","/template/exchange-of-shares-agreement-long-form-D331","https://templates.business-in-a-box.com/imgs/250px/331.png",{"label":68,"url":69,"thumb":70,"extension":10},"Limited Partnership Agreement Long Form","/template/limited-partnership-agreement-long-form-D1011","https://templates.business-in-a-box.com/imgs/250px/1011.png",{"label":72,"url":73,"thumb":74,"extension":10},"Software Distribution Agreement  Long Form","/template/software-distribution-agreement-long-form-D803","https://templates.business-in-a-box.com/imgs/250px/803.png",{"label":76,"url":77,"thumb":78,"extension":10},"Employee Email Policies Long","/template/employee-email-policies-long-D711","https://templates.business-in-a-box.com/imgs/250px/711.png",{"label":80,"url":81,"thumb":82,"extension":10},"Hypothec on Movables","/template/hypothec-on-movables-D987","https://templates.business-in-a-box.com/imgs/250px/987.png",{"label":84,"url":85,"thumb":86,"extension":10},"Deed of Hypothec on Movables","/template/deed-of-hypothec-on-movables-D981","https://templates.business-in-a-box.com/imgs/250px/981.png",{"description":88,"descriptionCustom":6,"label":89,"pages":90,"size":91,"extension":10,"preview":92,"thumb":93,"svgFrame":94,"seoMetadata":95,"parents":97,"keywords":96,"url":104},"LOAN AGREEMENT This Loan Agreement (\"Agreement\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] Promise to Pay Within [NUMBER] months from today, Borrower promises to pay to Lender the sum of [AMOUNT], and interest and other charges stated below. Responsibility Although this Agreement may be signed below by more than one person, Borrower understands that both parties are individuals responsible for paying back the full amount. Breakdown of Loan Amount of Loan: Other (Describe): Amount Financed: Finance Charge: Total of Payments: Annual Rate: Repayment Borrower will repay the amount of this note in [NUMBER] equal uninterrupted monthly installments of [AMOUNT] each on the [DAY] of each month starting on the [DATE], and ending on [DATE]. Prepayment Borrower has the right to prepay the whole outstanding amount at any time","Loan Agreement","2",513,"https://templates.business-in-a-box.com/imgs/1000px/loan-agreement-D417.png","https://templates.business-in-a-box.com/imgs/250px/417.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#417.xml",{"title":96,"description":6},"loan agreement",[98,100,103],{"label":17,"url":99},"finance-accounting",{"label":101,"url":102},"Business Loans","business-loan",{"label":101,"url":102},"/template/loan-agreement-D417",{"description":106,"descriptionCustom":6,"label":107,"pages":108,"size":109,"extension":10,"preview":110,"thumb":111,"svgFrame":112,"seoMetadata":113,"parents":114,"keywords":120,"url":121},"PROMISSORY NOTE This Promissory Note (the \"Note\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] TERMS FOR VALUE RECEIVED, the Borrower promises to pay to the order of Lender, at its principal office located at [ADDRESS], or at such other place that is designated in writing by the holder hereof, the principal sum of [AMOUNT], together with all charges and interest herein provided, payable at the rate and in the manner hereinafter set forth: Borrower shall make monthly payments of principal and interest at the rate of [%] per annum based upon an amortization of [NUMBER] months. Monthly payments shall be due on or before the first day of each month with the first payment being due on or before [DATE]. If not sooner paid, all amounts due under this Note, including principal, interest and other charges shall be due and payable in full on or before the first day of [MONTH], [YEAR] (the \"Maturity Date\"). Time is of the essence of the payment obligations hereunder and each monthly payment shall be due and payable on or before the first day of each month. This Note is and will be secured by a certain first priority security interest in all of the tangible and intangible property of the Borrower, to be recorded in all applicable governmental offices. The parties shall execute a separate security agreement, in form and substance acceptable to the Lender in all respects. Borrower agrees to execute any such security agreements presented by the Lender or other documents required by the Lender in order to perfect its security interest in the above described property. Said Security Agreement and any other instruments and documents executed in connection with or given as security for this Note shall hereinafter be referred to collectively as the \"Loan Documents.\" All of the terms, covenants, Conditions, representations and warranties contained in the Loan Documents are hereby made part of this Note to the same extent and with the same force and effect as if fully set forth herein. If all or any portion of any payment due hereunder is not received by the Lender within [NUMBER] calendar days after the date when such payment is due, Borrower shall pay a late charge equal to [%] of such payment, such late charge to be immediately due and payable without demand by Lender. Borrower shall have the right to prepay all (but not a portion) of the indebtedness evidenced by this Note at any time, by paying the Lender an amount equal to the sum of (I) the principal balance then outstanding, (ii) all interest accrued to the date of such prepayment, (iii) all interest calculated through the Maturity Date, and (iv) any late charge or charges then due and owing. If any payment under this Note is not paid in full by the [DAY] of any month during the term hereof or if the entire amount due as represented by this Note is not paid in full on or before the Maturity Date, or should default be made in the performance or observation of any of the terms, covenants, or conditions contained in the Loan Documents, or if any representation or warranty contained in the Loan Documents is breached or is or becomes untrue, this Note shall be in default, and the entire principal amount outstanding hereunder, accrued interest thereon, all late charges, if any, and any and all other charges due hereunder, shall, at Lender's option, immediately become due and payable, without further notice, the giving of such notice being expressly waived by the Borrower","Promissory Note","3",39,"https://templates.business-in-a-box.com/imgs/1000px/promissory-note-D434.png","https://templates.business-in-a-box.com/imgs/250px/434.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#434.xml",{"title":6,"description":6},[115,116,117],{"label":17,"url":99},{"label":101,"url":102},{"label":118,"url":119},"Promissory Notes","promisory-note","promissory note","/template/promissory-note-D434",{"description":123,"descriptionCustom":6,"label":124,"pages":90,"size":91,"extension":10,"preview":125,"thumb":126,"svgFrame":127,"seoMetadata":128,"parents":130,"keywords":129,"url":135},"PERSONAL GUARANTEE This Personal Guarantee (the \"Agreement\") is effective [DATE], BETWEEN: [FIRST PARTY NAME] (the \"Guarantor\"), an individual with his main address located at: [YOUR COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Second Party\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] I, [NAME OF GUARANTOR], residing at [COMPLETE ADDRESS], hereby personally and solidarity guarantee all of the obligations of [YOUR COMPANY NAME] and agree to be bound solidarity with [YOUR COMPANY NAME] for the prompt performance of [YOUR COMPANY NAME]'s obligations under that certain [SPECIFY] Agreement dated [DATE] (the \"Agreement\") between [YOUR COMPANY NAME] and [COMPANY NAME], including without limitation the payment of all goods, wares and merchandise as [YOUR COMPANY NAME] may from time to time select and purchase on credit from [COMPANY NAME], and hereby expressly renounce to the benefits of division and discussion. Furthermore, I agree that waive may extend the time for payment of any amounts owing to it by waive and/or may waive any default by waive without it in any way lessening or limiting my liability hereunder. Notwithstanding the foregoing, my guarantee hereunder to pay any and all amounts owing by [YOUR COMPANY NAME] to [COMPANY NAME] shall be limited to the sum of [AMOUNT] OR [%] of such outstanding amount.","Personal Guarantee","https://templates.business-in-a-box.com/imgs/1000px/personal-guarantee-D405.png","https://templates.business-in-a-box.com/imgs/250px/405.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#405.xml",{"title":129,"description":6},"personal guarantee",[131,132,133],{"label":17,"url":99},{"label":101,"url":102},{"label":36,"url":134},"guaranties-collateral","/template/personal-guarantee-D405",{"description":137,"descriptionCustom":6,"label":138,"pages":139,"size":140,"extension":10,"preview":141,"thumb":142,"svgFrame":143,"seoMetadata":144,"parents":145,"keywords":149,"url":150},"SECURITY AGREEMENT This Security Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [SECURED PARTY NAME] (the \" Secured Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Debtor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] For value received, the undersigned Debtor, promises to pay to the order of [name], together with any other holder of this note (\"Secured Party\"), [amount], with interest at the rate of [%] per annum. Payment shall be made in successive equal monthly installments of [amount]. Each such Installment is payable on the [day] of each month, commencing on [date]. Recitals WHEREAS, the Secured Party has extended to the Debtor a certain loan as evidenced by a certain promissory note, in the original principal amount equal to [amount] dated on even date herewith (the \"Note\"); and WHEREAS, the Debtor wishes to grant a first priority security interest in and to all of the Debtor's tangible and intangible personal property pursuant to the terms hereof; NOW, THEREFORE, for and in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereto covenant and agree as follows: DEFINITIONS The following terms shall have the meanings herein specified unless the context otherwise requires. Such definitions shall be equally applicable to the singular and plural forms of the terms defined: \"Contracts\" shall mean all contracts between the Debtor and one or more additional parties. \"Contract Rights\" shall mean all rights of the Debtor (including, without limitation, all rights to payment) under each Contract. \"Copyrights\" shall mean any [country] copyright to which the Debtor now or hereafter has title, as well as any application for a [country] copyright hereafter made by the Debtor. \"Equipment\" shall mean any \"equipment,\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [state/province], now or hereafter owned by Debtor and, in any event, shall include, but shall not be limited to, all machinery, equipment, furnishings, fixtures and vehicles now or hereafter owned by the Debtor and any and all additions, substitutions and replacements of, any of the foregoing, wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto. \"General Intangibles\" shall have the meaning assigned that term under the [LAW OR CODE] as in effect on the date hereof in the State of [state/province]. \"Goods\" shall have the meaning assigned that term under the [LAW OR CODE] as in effect on the date hereof in the State of [state/province]. \"Inventory\" shall mean all raw materials, workinprocess, and finished inventory of the Debtor of every type or description and all documents of title covering such inventory, and shall specifically include all \"inventory\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [state/province], now or hereafter owned by the Debtor. \"Marks\" shall mean any trademarks and service marks now held or hereafter acquired by the Debtor, which are registered in the [country] Patent and Trademark Office, as well as any unregistered marks used by the Debtor in the [COUNTRY] and trade dress, including logos and/or designs, in connection with which any of these registered or unregistered marks are used. \"Obligations\" shall mean: (i) all indebtedness, obligations and liabilities (including, without limitation, guarantees and other contingent liabilities) of the Debtor to the Secured Party, including but not limited to the Note; (ii) any and all sums advanced by the Secured Party in order to preserve the Collateral or preserve its security interest in the Collateral; and (iii) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations or liabilities of the Debtor referred to in clause (i), after an Event of Default shall have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights hereunder, together with reasonable attorneys' fees and court costs. \"Patents\" shall mean any [country] patent to which the Debtor now or hereafter has title, as well as any application for a [country] patent now or hereafter made by Debtor. \"Proceeds\" shall have the meaning assigned that term under the [law or code] as in effect in the State of [state/province] on the date hereof or under other relevant law and, in any event, shall include, but not be limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Secured Party or the Debtor from time to time with respect to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to the Debtor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental authority and (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. \"Receivables\" shall mean any \"account\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [STATE/PROVINCE], now or hereafter owned by Debtor and, in any event, shall include, but shall not be limited to, all of the Debtor's rights to payment for goods sold or leased or services performed by the Debtor, whether now in existence or arising from time to time hereafter, including, without limitation, rights evidenced by an account, note, contract, security agreement, or other evidence of indebtedness or security, together with (i) all security pledged, assigned, hypothecated or granted to or held by the Debtor to secure the foregoing; (ii) all of the Debtor's right, title and interest in and to any goods, the sale of which gave rise thereto; (iii) all guarantees, endorsements and indemnifications on, or of, any of the foregoing; (iv) all powers of attorney for the execution of any evidence of indebtedness or security or other writing in connection therewith; (v) all books, records, ledger cards and invoices relating thereto; (vi) all evidences of the filing of financing statements and other statements and the registration of other instruments in connection therewith and amendments thereto, notices to other creditors or secured parties, and certificates from filing or other registration officers; (vii) all credit information, reports and memoranda relating thereto and (viii) all other writings related in any way to the foregoing. GRANT OF SECURITY INTEREST The Debtor does hereby grant to the Secured Party a continuing security interest of first priority in all of the right, title and interest of the Debtor in, to and under all of the following property whether now existing or hereafter created or arising: ","Security Agreement","10",96,"https://templates.business-in-a-box.com/imgs/1000px/security-agreement-D915.png","https://templates.business-in-a-box.com/imgs/250px/915.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#915.xml",{"title":6,"description":6},[146,148],{"label":33,"url":147},"business-legal-agreements",{"label":33,"url":147},"security agreement","/template/security-agreement-D915",{"description":152,"descriptionCustom":6,"label":153,"pages":154,"size":91,"extension":10,"preview":155,"thumb":156,"svgFrame":157,"seoMetadata":158,"parents":160,"keywords":164,"url":165},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: NOTICE OF DEBT ACKNOWLEDGMENT Dear [Contact name],","Notice of Debt Acknowledgment","1","https://templates.business-in-a-box.com/imgs/1000px/notice-of-debt-acknowledgment-D390.png","https://templates.business-in-a-box.com/imgs/250px/390.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#390.xml",{"title":159,"description":6},"notice of debt acknowledgment",[161,162,163],{"label":17,"url":99},{"label":101,"url":102},{"label":17,"url":99},"notice debt acknowledgment","/template/notice-of-debt-acknowledgment-D390",{"description":167,"descriptionCustom":6,"label":168,"pages":154,"size":91,"extension":10,"preview":169,"thumb":170,"svgFrame":171,"seoMetadata":172,"parents":174,"keywords":178,"url":179},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: DEFAULT ON PROMISSORY NOTE Dear [CONTACT NAME], Reference is made to the promissory note dated [DATE], in the original amount of [AMOUNT]. You have defaulted under said note in that the installment due on [DATE], in the amount of [AMOUNT] has not been paid. Accordingly, demand is hereby made upon you for full payment of the entire balance on said note in the amount of [AMOUNT], including accrued interest to date. In the event the entire balance is not paid within the next [NUMBER] days, I shall refer this matter to an attorney resulting in additional costs of collection. Sincerely, [YOUR NAME] [YOUR TITLE] [YOUR PHONE NUMBER] [YOUREMAIL@YOURCOMPANY.COM] [IF SENT BY EMAIL YOU MAY INCLUDE THIS NOTICE] This email is intended only for the person to whom it is addressed and/or otherwise authorized personnel","Letter of Default on Promissory Note","https://templates.business-in-a-box.com/imgs/1000px/letter-of-default-on-promissory-note-D431.png","https://templates.business-in-a-box.com/imgs/250px/431.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#431.xml",{"title":173,"description":6},"letter of default on promissory note",[175,176,177],{"label":17,"url":99},{"label":101,"url":102},{"label":118,"url":119},"letter default promissory note","/template/letter-of-default-on-promissory-note-D431",false,{"seo":182,"reviewer":194,"quick_facts":198,"at_a_glance":200,"personas":204,"variants":225,"glossary":248,"fields":279,"how_to_fill":330,"common_mistakes":366,"faqs":383,"industries":408,"comparisons":425,"diy_vs_pro":440,"related_template_ids_curated":453,"schema":465,"classification":467},{"meta_title":183,"meta_description":184,"primary_keyword":185,"secondary_keywords":186},"Movable Hypothec Long Form Template (Free Word)","Free movable hypothec long form template for securing loans against movable property. Trusted by companies in USA, Canada, UK, Australia, and 190+ countries. Free Word and PDF download.","movable hypothec long form template",[187,188,189,190,191,192,193],"movable hypothec form","hypothec on movable property","movable hypothec agreement template","secured loan movable property template","hypothec form word","movable collateral security form","movable hypothec document free",{"name":195,"credential":196,"reviewed_date":197},"Bruno Goulet","CEO, Business in a Box","2026-05-02",{"difficulty":199,"legal_review_recommended":180,"signature_required":180},"easy",{"what_it_is":201,"when_you_need_it":202,"whats_inside":203},"A Movable Hypothec Long Form is a structured legal form used to register a security interest over movable property — such as equipment, inventory, vehicles, or receivables — in favor of a creditor as collateral for a debt or obligation. This free Word download gives you a fillable, pre-structured form you can edit and export as PDF for submission to the relevant registry or inclusion in a secured financing package.\n","Use it when a lender or creditor requires a formal charge over a borrower's movable assets as security for a loan, line of credit, or deferred payment arrangement. It is commonly triggered at the closing of an asset-backed financing transaction.\n","Debtor and creditor identification, a detailed description of the movable property being hypothecated, the principal obligation secured, repayment terms, default conditions, and the creditor's enforcement rights over the charged assets.\n",[205,209,213,217,221],{"title":206,"use_case":207,"icon_asset_id":208},"Small business owners","Pledging equipment or inventory as collateral for a business loan","persona-small-business-owner",{"title":210,"use_case":211,"icon_asset_id":212},"Commercial lenders","Documenting a security interest over a borrower's movable assets","persona-lender",{"title":214,"use_case":215,"icon_asset_id":216},"Asset-based financing brokers","Structuring secured loan packages backed by movable property","persona-financial-advisor",{"title":218,"use_case":219,"icon_asset_id":220},"Accountants and bookkeepers","Recording secured financing arrangements for balance-sheet reporting","persona-accountant",{"title":222,"use_case":223,"icon_asset_id":224},"Operations directors","Formalizing equipment-backed financing arrangements for capital purchases","persona-operations-director",[226,229,232,236,240,244],{"situation":227,"recommended_template":7,"slug":228},"Securing a loan against a single piece of commercial equipment","movable-hypothec-long-form-D284",{"situation":230,"recommended_template":231,"slug":228},"Short-form security registration with minimal supporting detail","Movable Hypothec Short Form",{"situation":233,"recommended_template":234,"slug":235},"Securing a debt against real or immovable property","Immovable Hypothec","bill-of-sale-immovable-property-D1167",{"situation":237,"recommended_template":238,"slug":239},"General security agreement covering all present and after-acquired assets","General Security Agreement","security-agreement-D915",{"situation":241,"recommended_template":242,"slug":243},"Pledging receivables or accounts as collateral for a credit facility","Assignment of Receivables Agreement","assignment-agreement-D12542",{"situation":245,"recommended_template":246,"slug":247},"Financing the purchase of a specific vehicle with that vehicle as security","Chattel Mortgage Agreement","mortgage-D1183",[249,252,255,258,261,264,267,270,273,276],{"term":250,"definition":251},"Hypothec","A security right granted to a creditor over a debtor's property without transferring possession, entitling the creditor to have the property sold if the debt is not repaid.",{"term":253,"definition":254},"Movable Property","Assets that can be physically moved or transferred, such as equipment, vehicles, inventory, or financial instruments — as opposed to land or buildings.",{"term":256,"definition":257},"Creditor","The party in whose favor the hypothec is granted — typically the lender or financier who is owed the secured obligation.",{"term":259,"definition":260},"Debtor","The party who grants the hypothec over their property as security for a debt or obligation owed to the creditor.",{"term":262,"definition":263},"Secured Obligation","The specific debt, loan, or contractual obligation that the hypothec is intended to secure, including the principal amount and any interest.",{"term":265,"definition":266},"Collateral","The movable property specifically identified in the form as subject to the security interest, which the creditor may seize and sell upon default.",{"term":268,"definition":269},"Default","A failure by the debtor to meet the terms of the secured obligation — such as missing a payment — that triggers the creditor's enforcement rights.",{"term":271,"definition":272},"Enforcement Rights","The remedies available to the creditor upon default, typically including the right to take possession of and sell the hypothecated property.",{"term":274,"definition":275},"Publication of Rights","The process of registering the hypothec in the applicable public registry so that the security interest is enforceable against third parties.",{"term":277,"definition":278},"Principal Amount","The original sum of money lent or the value of the obligation secured, before interest or fees are added.",[280,285,290,295,300,305,310,315,320,325],{"name":281,"plain_english":282,"sample_language":283,"common_mistake":284},"Debtor identification","Full legal name, address, and, where applicable, business registration number of the party granting the hypothec.","Debtor: [FULL LEGAL NAME], [BUSINESS REGISTRATION NUMBER], having its principal place of business at [ADDRESS], [CITY], [PROVINCE/STATE].","Using a trade name instead of the debtor's registered legal entity name — this can invalidate the registration and leave the creditor's interest unenforceable against third parties.",{"name":286,"plain_english":287,"sample_language":288,"common_mistake":289},"Creditor identification","Full legal name and address of the lender or party in whose favor the security interest is granted.","Creditor: [CREDITOR LEGAL NAME], having its principal office at [ADDRESS], [CITY], [PROVINCE/STATE].","Entering the creditor's department or division name rather than the top-level legal entity, creating a mismatch with registry records.",{"name":291,"plain_english":292,"sample_language":293,"common_mistake":294},"Description of movable property","A specific, detailed description of the assets being hypothecated — including make, model, serial number, quantity, or category — so the collateral is unambiguously identifiable.","One (1) [MAKE] [MODEL] [YEAR] commercial [EQUIPMENT TYPE], serial number [SERIAL NUMBER], located at [ADDRESS].","Describing collateral too broadly or too vaguely — phrases like 'all equipment' without specifics may be challenged as insufficient to perfect the security interest.",{"name":296,"plain_english":297,"sample_language":298,"common_mistake":299},"Principal amount secured","The exact dollar amount of the loan or obligation that the hypothec secures.","This hypothec secures a principal obligation of [CURRENCY] $[AMOUNT] ([AMOUNT IN WORDS]) advanced by the Creditor to the Debtor pursuant to a loan agreement dated [DATE].","Listing an approximate or rounded figure rather than the precise contractual amount, which can create disputes over the scope of the security on enforcement.",{"name":301,"plain_english":302,"sample_language":303,"common_mistake":304},"Interest rate and payment terms","The interest rate applicable to the secured obligation and the schedule on which the debtor must make payments.","The secured obligation bears interest at [X]% per annum, calculated [monthly/annually], with repayments of $[AMOUNT] due on the [DAY] of each [month/quarter] beginning [DATE].","Omitting the interest rate entirely and relying on the underlying loan agreement — if the form is read in isolation, the secured amount is ambiguous.",{"name":306,"plain_english":307,"sample_language":308,"common_mistake":309},"Term and maturity date","The start date of the hypothec and the date on which the secured obligation is fully due and the hypothec terminates upon repayment.","This hypothec takes effect on [START DATE] and shall remain in force until [MATURITY DATE], unless discharged earlier upon full repayment of the secured obligation.","Leaving the maturity date blank with the intention of filling it in later — an undated form may not be registrable and creates enforceability uncertainty.",{"name":311,"plain_english":312,"sample_language":313,"common_mistake":314},"Default conditions","The specific events — such as missed payments, insolvency, or breach of a loan covenant — that trigger the creditor's enforcement rights.","An event of default shall occur if: (a) the Debtor fails to make any payment within [X] days of its due date; (b) the Debtor becomes insolvent or makes an assignment for the benefit of creditors; or (c) [OTHER CONDITION].","Including only payment default and omitting insolvency, asset disposal, or material misrepresentation events — leaving the creditor exposed if the debtor transfers the collateral before defaulting on payments.",{"name":316,"plain_english":317,"sample_language":318,"common_mistake":319},"Enforcement and remedies","The creditor's rights upon default, including the right to take possession of the hypothecated property and sell it to recover the outstanding obligation.","Upon an event of default, the Creditor shall be entitled to take possession of the Movable Property and sell it by public or private sale, applying the proceeds first to costs of enforcement, then to the outstanding secured obligation.","Omitting the order of application of sale proceeds — without it, disputes arise over whether enforcement costs or the principal balance are satisfied first.",{"name":321,"plain_english":322,"sample_language":323,"common_mistake":324},"Debtor representations","Statements by the debtor confirming ownership of the collateral, that it is free of prior encumbrances, and that they have authority to grant the hypothec.","The Debtor represents and warrants that: (a) it is the sole owner of the Movable Property; (b) the Movable Property is free of all prior hypothecs, charges, or encumbrances except as disclosed; and (c) the Debtor has full authority to grant this hypothec.","Skipping this section on a short-form fill — without the ownership representation, the creditor has no contractual recourse if the debtor hypothecates property they do not actually own.",{"name":326,"plain_english":327,"sample_language":328,"common_mistake":329},"Governing law","The jurisdiction whose laws govern the interpretation and enforcement of the hypothec.","This hypothec is governed by and construed in accordance with the laws of [PROVINCE/STATE/COUNTRY], and the parties submit to the exclusive jurisdiction of the courts of [JURISDICTION].","Leaving governing law blank because it seems obvious — if the debtor and creditor are in different jurisdictions, the absence of a choice-of-law clause leads to costly disputes about which rules apply.",[331,336,341,346,351,356,361],{"step":332,"title":333,"description":334,"tip":335},1,"Enter the debtor's full legal details","Record the debtor's registered legal name exactly as it appears in their corporate or business registry filing. Include the business number, registration number, or tax ID, and the principal address.","Pull the exact name from an official registry search — even minor spelling differences can prevent successful publication of the security interest.",{"step":337,"title":338,"description":339,"tip":340},2,"Identify the creditor","Enter the creditor's full legal entity name and principal business address. If the creditor is a financial institution, use the parent legal entity rather than a branch or division name.","Confirm the creditor's legal name against the institution's own registration documents before completing this field.",{"step":342,"title":343,"description":344,"tip":345},3,"Describe the movable property with specificity","List each item of collateral with its make, model, serial number, year, and current location. For inventory or bulk collateral, describe the category, estimated value, and storage address.","Attach a separate schedule as an appendix if you have more than three items — it keeps the form readable and makes amendments easier.",{"step":347,"title":348,"description":349,"tip":350},4,"State the principal amount and interest rate","Enter the exact loan or obligation amount in both numerals and words, the interest rate, compounding frequency, and payment schedule.","Cross-reference these figures against the signed loan agreement to ensure they match exactly — discrepancies create enforceability gaps.",{"step":352,"title":353,"description":354,"tip":355},5,"Set the term and maturity date","Enter the effective date of the hypothec and the calendar date on which the obligation matures and the hypothec is dischargeable upon full repayment.","If the underlying loan has an automatic renewal clause, note it here so the hypothec term mirrors the loan's potential duration.",{"step":357,"title":358,"description":359,"tip":360},6,"Define default events and remedies","Complete the default conditions section to cover at minimum: payment default with a cure period, insolvency, unauthorized disposal of collateral, and material misrepresentation. Then confirm the creditor's enforcement rights are clearly stated.","A 5-business-day cure period for payment default is common and reduces the risk of triggering enforcement over a processing delay.",{"step":362,"title":363,"description":364,"tip":365},7,"Confirm governing law and submit for publication","Select the governing jurisdiction and, once all parties have reviewed the form, submit it to the appropriate registry — such as a personal property security registry — for publication to make the interest enforceable against third parties.","Publication deadlines vary by jurisdiction — in some provinces, a hypothec must be published within a set number of days of execution to maintain priority over other creditors.",[367,371,375,379],{"mistake":368,"why_it_matters":369,"fix":370},"Using a trade name instead of the registered legal entity name for the debtor","Registry systems match records to legal entity names. A trade name mismatch means the hypothec may not appear in a search against the debtor's real legal name, voiding its priority.","Perform a registry search for the debtor's exact registered name before completing the form and copy it verbatim.",{"mistake":372,"why_it_matters":373,"fix":374},"Describing collateral too vaguely","A description like 'all business equipment' without serial numbers or specific identifiers can be challenged as insufficient to identify the collateral, reducing the creditor's ability to enforce.","List each item with make, model, serial number, and location. Use a numbered schedule for multiple items.",{"mistake":376,"why_it_matters":377,"fix":378},"Leaving the maturity date blank","An undated or open-ended hypothec may not meet registry filing requirements and creates uncertainty about when the creditor's security expires.","Always enter a specific calendar date. If the loan term is uncertain, use the maximum anticipated term and note any renewal provisions.",{"mistake":380,"why_it_matters":381,"fix":382},"Omitting insolvency and asset-disposal default triggers","If the only default event is a missed payment, the debtor can transfer or encumber the collateral before missing a payment, leaving the creditor with a security interest over assets they can no longer recover.","Include a standard set of default events: payment default, insolvency, unauthorized disposal of collateral, and material misrepresentation.",[384,387,390,393,396,399,402,405],{"question":385,"answer":386},"What is a movable hypothec?","A movable hypothec is a security right granted by a debtor to a creditor over movable property — such as equipment, vehicles, or inventory — as collateral for a debt or obligation. The debtor retains possession of the property while the hypothec is in force, but the creditor can seize and sell it if the debtor defaults. It is commonly used in Quebec civil law and similar civil-law jurisdictions as the equivalent of a chattel mortgage or PPSA security interest in common-law provinces.\n",{"question":388,"answer":389},"What is the difference between a movable hypothec and a mortgage?","A mortgage typically applies to immovable property such as land and buildings. A movable hypothec applies to movable assets — equipment, vehicles, receivables, and inventory. Both give the creditor a security interest that can be enforced on default, but they are registered in different public registries and governed by different legal rules.\n",{"question":391,"answer":392},"When should I use the long form instead of the short form?","Use the long form when the transaction requires a detailed record of repayment terms, default conditions, enforcement rights, and debtor representations — typically for loans above $50,000 or when the creditor's internal policies require full documentation. The short form is sufficient for simple, low-value transactions where the parties rely heavily on a separate loan agreement for the governing terms.\n",{"question":394,"answer":395},"Does a movable hypothec need to be registered to be enforceable?","A movable hypothec is enforceable between the debtor and creditor once executed, but it must be published in the applicable registry — such as the Quebec Register of Personal and Movable Real Rights (RPMRR) — to be enforceable against third parties, including other creditors and a trustee in bankruptcy. Without registration, the creditor's priority can be defeated by a subsequent registered creditor.\n",{"question":397,"answer":398},"What types of property can be covered by a movable hypothec?","Movable property includes physical assets that can be relocated — commercial equipment, vehicles, manufacturing machinery, livestock, and inventory — as well as intangible movable property such as accounts receivable, intellectual property rights, and shares. The form should describe each category specifically to ensure the security interest is perfected over all intended collateral.\n",{"question":400,"answer":401},"Can a movable hypothec cover after-acquired property?","Yes, a movable hypothec can be drafted to cover property the debtor acquires after the hypothec is granted — commonly used for inventory financing where stock turns over continuously. The collateral description should explicitly state that the hypothec covers all present and after-acquired property of the described category to make this effective.\n",{"question":403,"answer":404},"What happens to the hypothec when the loan is fully repaid?","Once the secured obligation is fully repaid, the creditor is obligated to provide a discharge or release of the hypothec and cancel the registration in the applicable registry. Failure to discharge can cloud the debtor's title to the property and affect their ability to sell or refinance. A standard discharge clause should be included in the form.\n",{"question":406,"answer":407},"Do I need a lawyer to complete a movable hypothec long form?","For straightforward transactions using a well-structured template, most businesses can complete the form without a lawyer. Legal review is advisable for transactions exceeding $100,000, when the collateral includes complex intangible assets, when the debtor is in a regulated industry, or when cross-border enforcement may be required.\n",[409,413,417,421],{"industry":410,"icon_asset_id":411,"specifics":412},"Manufacturing","industry-manufacturing","Hypothecs over production equipment, machinery, and raw material inventory used to secure capital equipment loans and supplier credit lines.",{"industry":414,"icon_asset_id":415,"specifics":416},"Transportation and Logistics","industry-transportation","Securing financing against commercial vehicle fleets, trailers, and specialized transport equipment with serial-number-level collateral descriptions.",{"industry":418,"icon_asset_id":419,"specifics":420},"Retail and Wholesale","industry-retail","Inventory-backed hypothecs for revolving credit facilities, with after-acquired property clauses covering continuously replenished stock.",{"industry":422,"icon_asset_id":423,"specifics":424},"Construction and Trades","industry-construction","Equipment financing hypothecs covering cranes, excavators, and site tools, often with location covenants tied to specific job sites.",[426,429,433,436],{"vs":238,"vs_template_id":427,"summary":428},"D{GENERAL_SECURITY_AGREEMENT_ID}","A General Security Agreement (GSA) covers all present and after-acquired personal property of a debtor in a single instrument, typically used in common-law provinces under PPSA frameworks. A movable hypothec is the civil-law equivalent, most common in Quebec, and is registered in a different registry. Use a GSA for pan-Canadian financing; use a movable hypothec when the debtor's primary assets and operations are in Quebec.",{"vs":430,"vs_template_id":431,"summary":432},"Chattel Mortgage","D{CHATTEL_MORTGAGE_ID}","A chattel mortgage transfers legal title of the movable property to the creditor as security, with title reverting to the debtor on repayment. A movable hypothec does not transfer title — the debtor retains ownership and possession throughout. The hypothec structure is simpler to administer and more common in modern secured financing practice.",{"vs":231,"vs_template_id":434,"summary":435},"D{MOVABLE_HYPOTHEC_SHORT_FORM_ID}","The short form records the essential registration details — parties, collateral, and amount — without the detailed default, enforcement, and representation provisions. Use the short form for simple, low-value transactions where a separate loan agreement governs the terms. Use the long form when you need a standalone, self-contained security document with full default and enforcement provisions.",{"vs":437,"vs_template_id":438,"summary":439},"Pledge Agreement","D{PLEDGE_AGREEMENT_ID}","A pledge requires the debtor to physically transfer possession of the collateral to the creditor as a condition of the security. A movable hypothec allows the debtor to retain possession and continue using the property — making it far more practical for operating assets like equipment and inventory that the debtor needs to run the business.",{"use_template":441,"template_plus_review":445,"custom_drafted":449},{"best_for":442,"cost":443,"time":444},"Small businesses and lenders documenting standard equipment or inventory-backed financing under $100,000","Free","15–30 minutes",{"best_for":446,"cost":447,"time":448},"Transactions above $100,000, complex collateral descriptions, or when the creditor requires registry publication advice","$200–$500 (notary or lawyer review)","1–2 days",{"best_for":450,"cost":451,"time":452},"Large-scale asset-based lending, syndicated facilities, regulated industries, or cross-border enforcement requirements","$1,000–$5,000+","1–2 weeks",[454,455,456,239,457,458,459,460,461,462,463,464],"loan-agreement-D417","promissory-note-D434","personal-guarantee-D405","notice-of-debt-acknowledgment-D390","letter-of-default-on-promissory-note-D431","purchase-order-D1411","sales-invoice-D383","equipment-lease-agreement-D1140","bill-of-sale-D1229","demand-for-extension-of-payment-date-D444","general-release-and-settlement-agreement-D12554",{"emit_how_to":466,"emit_defined_term":466},true,{"primary_folder":147,"secondary_folder":468,"document_type":469,"industry":470,"business_stage":471,"tags":472,"confidence":477},"guaranties-and-collateral","form","general","all-stages",[473,474,475,476],"movable-hypothec","collateral","security-interest","financing",0.95,"\u003Ch2>What is a Movable Hypothec Long Form?\u003C/h2>\n\u003Cp>A \u003Cstrong>Movable Hypothec Long Form\u003C/strong> is a structured legal form used to create and document a security interest over a debtor's movable property — including equipment, vehicles, inventory, and certain intangible assets such as receivables — in favor of a creditor as collateral for a loan or other financial obligation. Unlike a mortgage, which applies to land and buildings, a movable hypothec allows the debtor to retain possession and continue using the secured assets while granting the creditor the right to seize and sell them upon default. The long form version provides a self-contained record of all material terms, including repayment schedule, default conditions, and enforcement rights, making it suitable as a standalone financing document.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Without a properly completed movable hypothec form, a creditor's security interest exists only as an informal understanding — unregistered, unpublished, and unenforceable against competing creditors or a trustee in bankruptcy. If the debtor defaults or becomes insolvent, an unperfected security interest places the creditor at the back of the queue behind any registered secured party. For the debtor, a vague or incomplete form creates disputes over which assets are covered and what conditions trigger enforcement. This template gives both parties a clear, registrable record of the secured obligation, the collateral description, and the remedies available on default — reducing the risk of costly disputes and ensuring the creditor's priority is established from the day the form is executed and published.\u003C/p>\n",1781186010281]