Security Interest Agreement (Genie AI)

The Security Interest Agreement (Genie AI) is a legal template that outlines the terms and conditions governing the granting of a security interest to a lender by the borrower, with regards to the usage of Genie AI technology. This agreement establishes a contractual relationship between the lender and the borrower, defining the lender's rights and obligations concerning the assets secured, which may include software, patents, copyrights, tradenames, or any other intellectual property related to Genie AI. The template covers crucial aspects such as the description of the collateral, the extent of security, conditions for default and enforcement, and any applicable fees or charges. It includes provisions for the creation, perfection, and priority of the security interest, as well as potential limitations or exclusions of liability for both parties. This Security Interest Agreement ensures that both borrower and lender understand and agree to the terms associated with utilizing the Genie AI technology, offering a level of protection and confidence for both parties involved.