Use this template to prepare a Purchase Money Security Agreement for the Province of Alberta, Canada, between a borrower (debtor) and a lender (secured party) who is extending credit to the borrower for the purchase of inventory. Provisions of the agreement include:

• The agreement grants the secured party a purchase money security interest in the secured goods, proceeds therefrom and improvements thereto.
  
• The debtor must keep the collateral free of any other liens or security interests ranking equal to or in priority to the lender's interest.
  
• The debtor can only sell the secured goods in the ordinary course of business.
  
• If the debtor defaults in payment, the secured party has the right (among other remedies) to appoint a receiver-manager over the collateral.

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