Reply To: Is the loan secured or unsecured?

The facility is secured by the following Personal Property Security Registrations
• All present and after-acquired property (AllPAAP)
o This type of collateral class means personal property over which the grantor has an interest at the time the registration is made, and personal property acquired after the registration is made.
• Other Goods
o ‘Other goods’ may be selected as a collateral class to describe all other tangible property. This may include art, machinery, or an outboard motor.
• Account
o Account’ describes property that is a monetary obligation that arises from the sale, lease or other disposal of property or from the granting of a right or the provision of services in the ordinary course of business.
• Other Goods _ Inverter Units
o ‘Other goods’ may be selected as a collateral class to describe all other tangible property this will specifically list the inverter units