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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Purchase Money Security Rules in Equipment and Inventory – Part Two

Corporate, Due Diligence Something

We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the second installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory. Frequently Asked Question # 2: What Obligations Qualify as a "Purchase Money Obligation"? The term “purchase money obligation” is defined under the Code as “an obligation… >> READ MORE


Purchase Money Security Rules in Equipment and Inventory – Part Three

Corporate, Due Diligence Something

We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the third installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory. Frequently Asked Question # 4: Does a Holder of a PMSI in Inventory Prime an Earlier Perfected Security Interest in Accounts? First, it is important to recognize a basic Code priority… >> READ MORE


Purchase Money Security Rules in Equipment and Inventory – Part Six

Corporate, Due Diligence Something

We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the sixth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory. Frequently Asked Question #7: How Does a Lender Obtain a PMSI in Inventory? A purchase-money secured party who finances inventory for a borrower (or in the case of a seller, retains… >> READ MORE


Purchase Money Security Rules in Equipment and Inventory – Part One

Corporate, Due Diligence Something

We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the first installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory. We are routinely fielding questions from loan officers about the mechanics of purchase money security interests in inventory and equipment. Lenders find themselves on both sides of… >> READ MORE


Purchase Money Security Rules in Equipment and Inventory – Part Four

Corporate, Due Diligence Something

We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the fourth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory. The Official Comment to Section 9-324 contains the following examples which demonstrate the application of the priority rules as they affect proceeds of inventory constituting accounts: "9.… >> READ MORE


Purchase Money Security Rules in Equipment and Inventory – Part Five

Corporate, Due Diligence Something

We are pleased to welcome attorney, Bennett L. Cohen of Cohen, Salk and Huvard, P.C., as a special guest blogger. Please read on for the fifth installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory. Frequently Asked Question #5: How Does a Lender Obtain a Purchase Money Security Interest in Equipment?  A purchase money secured party who finances specific equipment for a borrower… >> READ MORE


Ordering a Civil Litigation Search: 5 Pieces of Information Your Searcher will Need from You

Corporate, Due Diligence Something

Conscientious searchers know that an exhaustive pre-funding due diligence investigation will include a search of court records for civil litigation involving their prospect. Not being attorneys however, many are unsure of what to order or what information they will need to provide to get the ball rolling. In addition to the search name, there are five basic pieces of information you will need to supply in order to secure a relevant and… >> READ MORE


Tips To Determine Which Party Names To Search When Lien Searching

UCC, Due Diligence, Reduce Financial Risk, Tips Something

Searching the correct party and correct legal name is imperative when coordinating due diligence search efforts. It is important to search all names under which liens could be filed. This may seem simple and obvious, but keep in mind that liens, particularly involuntary liens like federal tax liens and judgment liens, could be filed under business names, individual names, aliases, nicknames, or even fictitious business names. So, how… >> READ MORE


Application Programming Interfaces for UCC – Are All API for UCC Alike?

UCC, Online UCC System, Due Diligence Something

In a word, no. The emergence of API for UCC with its increased efficiency and enhanced compliance capability has already occurred and the implementation is spreading. UCC data and portfolio management providers have moved quickly to develop API for UCC and it is now another technology driven differentiator added to their UCC due diligence packages. Much like how UCC portfolio managers and search engines vary in effectiveness and… >> READ MORE


Can A UCC Filing Be Terminated By The Debtor?

UCC, Due Diligence, Tips Something

In a word, yes, as long as there is no existing obligation to the lender and one follows a specific process. The process for debtors to terminate UCC filings on themselves is provided for in the Uniform Commercial Code and can be found here in Section 9-513 of the Uniform Commercial Code. That process includes the below steps: the Debtor must send an authenticated demand to the secured party the demand must be sent to the name… >> READ MORE