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
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
Purchase Money Security Rules in Equipment and Inventory – Part Seven
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 seventh and final installment of Bennett’s seven-part blog series on Purchase Money Security Interest in Equipment and Inventory.
Frequently Asked Question #8: Does a Borrower Obtaining Purchase Money Financing Create a Default Under the Security Agreement Between the Borrower and its Blanket Lien… >> READ MORE
Delaware Offers Preclearance Review of Corporate Documents to Reduce Rejections
Corporate, Due Diligence, Tips Something
The State of Delaware offers Preclearance Review of Corporate Documents to assist filers through the corporate filing process and reduce the number of filings that do not meet required criteria. Various preclearance corporate filing services are offered and their official review procedures are a convenient way to avoid potential processing errors. This service assures that you have accurately drafted your corporate document before formally… >> READ MORE
Post Funding Due Diligence—Don’t Lose Your Perfected Security Interests
Due Diligence Something
You’ve performed your pre funding due diligence. You’ve qualified your prospect and determined to move forward and fund. You’ve filed your UCC and perfected your security interest.
Now what?
After all the time and effort invested to best investigate the credit worthiness of your new customers and establish your priority position to collect in case of default, don’t stop there! Your job is just beginning. From Federal… >> READ MORE
Three Tips For Bulk Sale Escrow Officers In California
UCC, Due Diligence, Tips Something
Are you a Bulk Sale Escrow Officer? Then this blog post is for you! We’ve been supporting Escrow Officers handling bulk sales for close to a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry, and in our next couple of blog posts we share some of tips we’ve learned.
Tip #1: Search an individual seller’s name at any and all addresses
Because individual business owners… >> READ MORE
