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UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Examining Issues with Control Agreements for Pledged Securities Accounts

 UCC, Due Diligence, Revised Article 9

We are pleased to welcome back attorney Bennett Cohen of Illinois law firm Cohen, Salk and Huvard, P.C. as a guest blogger! Over the next few weeks, Mr. Cohen will share his expertise on the topic of control agreements for pledged securities accounts. Examining Issues with Control Agreements for Pledged Securities Accounts - Introduction Control agreements for pledged securities accounts come in all shapes and sizes, and it is…READ MORE

Is there adequate “control” language in the control agreement?

 UCC, Due Diligence, Revised Article 9

We continue our examination of control agreements for pledged securities accounts with guest blogger Bennett Cohen of the law firm Cohen, Salk & Huvard, P.C. For more background on control agreements, see our introductory post here. Is there adequate "control" language in the control agreement? Some control agreements we reviewed failed to contain the necessary language required for the Lender to be deemed in "control" of the…READ MORE