Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Secured Asset means any property or rights upon which a security interest is established.
Relevant Contract Types
Relevant Circumstances
- Acquisition of real estate property
- Secured loans
- Financing for large projects
- Long-term leases
Relevant Sectors
Genie Definition 2
- Secured Asset means any asset or rights held by a borrower where security is applied under [relevant security documents].
Relevant Contract Types
Relevant Circumstances
- Secured borrowing
- Project financing
- Business acquisition loans
Relevant Sectors
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