UCC-3 When you modify the pledged collateral, acquire a new portfolio, receive payoff from the borrower, or even if you are approaching the lien expiration date, you may need to file a UCC-3. The UCC-3 financing statement continues, amends, terminates, or assigns the original UCC filing ...
financing because there is a funder ahead of them in priority. Typically, a traditional lender such as the SBA would want to payoff the existing financing to secure their position. Some funders don’t care about certain types of UCCs such as equipment financing or other traditional lender ...
Sample 1 Examples ofUCC 4Ain a sentence All terms used in this Funds Transfer Services Schedule shall have the meaning set forth in Article 4A of the Uniform Commercial Code as currently in effect in the State of New York (UCC 4A) unless otherwise set forth herein. ...