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Use this template to prepare a Security Agreement securing repayment of shareholder loans for use in the Province of Ontario, Canada, between a corporation (borrower) and a secured party (a trustee acting on behalf of the shareholders). Provisions of the agreement include: The borrower grants the secured party a security interest in the borrower's assets and undertaking, in order to secure its current or future indebtedness to its shareholders for shareholder advances, stock dividends or other obligations. The secured party holds the security interest in trust for the shareholders and may release all or part of the secured collateral as it sees fit. The borrower is restricted from selling, transferring, leasing or otherwise disposing of any of the collateral forming the security. This is a Canadian legal document prepared pursuant to the Ontario Personal Property Security Act.