Parties involved in security agreements can negotiate the terms of virtually any provision included therein. For example, while many security agreements abide closely by definitions outlined in Article 9 of the UCC, parties involved in agreements may instead prefer to use definitions included in one of the UCC's other sections. Many security agreements, however, stipulate that, when in doubt, the contract will abide by definitions set forth in Article 9. Negotiable provisions may also determine whether the contract will refer to existing obligations (as opposed to future obligations). Caution is critical, as not all courts will enforce negotiable provisions in the event of a dispute.
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