VIEWS: 395 PAGES: 7 CATEGORY: Financing With Debt POSTED ON: 1/22/2011
This document sets forth a collateral substitution agreement between a borrower and a lender. This agreement can be used to substitute and release collateral previously pledged by way of a note and/or security agreement by providing for the terms of a previous note to be modified, and the collateral that is securing the note be changed for the substituted collateral. These agreements can be used in a variety of contexts, but are often seen when circumstances have changed for a party, and the key terms of a loan need to be modified.
"Collateral Substitution Agreement"