A security agreement that gives a lender a security interest in a borrower’s present and future personal property assets, often paired with a PPSR registration.
For example, a working capital lender registers a GSA so it has security over the business’s receivables, inventory, and equipment (as defined in the agreement).
Why it matters: It grants the lender a sweeping lien over all current and future assets, severely restricting the business's ability to secure secondary financing.
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