Learn How to Perfect Your Solar Equipment Financing and Security Interests in a SEIA Webinar

Written by Suzie Neff
Date March 2017

In this powerful new webinar, Lien Solutions’ senior solar specialist Suzie Neff will discuss the critical issue of perfecting security interests in equipment financing, with a special focus on the residential and community solar industry. Joined by guest speakers from SolarCity and SunPower, the panelists will discuss the benefits of securing assets using the Uniform Commercial Code (UCC) and best practice workflows for creating and managing filing requirements.

 

Back-to-School with UCC Basics: PMSI

Written by Amanda Rasizzi
Date March 2017

The PMSI holds a favored position under UCC Article 9. If a transaction qualifies as a PMSI, the secured party can achieve a superior position even in relation to other secured parties that have perfected before it. A PMSI is generally a two-party transaction; the supplier or seller of goods retains a security interest for the purchase price.

 

The Master of Its Own Termination Statement: The Case of Unsecured Creditors of Motors Liquidation Co. v. JPMorgan Chase Bank

Written by Amanda Rasizzi
Date February 2017

With an opinion that contains the classic line, “A secured party is the master of its own termination statement,” the Delaware Supreme Court held on Oct. 17, 2014, that a UCC-3 termination statement, which was filed by mistake and resulted in the termination of a $1.5 billion term loan, was effective because the filing was authorized by the secured parties involved.

 

Why You Should Order an Articles of Incorporation

Written by Amanda Rasizzi
Date February 2017

Articles of incorporation, also known as a corporate charter, establish the existence of a corporation in the United States and Canada, and are always filed with the secretary of state or other company register. They may also be referred to as the public organic record.

 

Can You File on a Debtor Using Their Driver’s License?

Written by Amanda Rasizzi
Date February 2017

Conducting a UCC search, due diligence and risk mitigation can sometimes be a confusing process, especially for companies and people new to experience. One question that often comes up from new filers (and occasionally from more seasoned ones, as well) is whether they can file on an individual debtor using his or her driver’s license.

 

Are You Still First in Line? Maintaining Perfection Post Close

Written by Amanda Rasizzi
Date February 2017

Article 9 of the UCC requires the lender (secured party) to perfect its security interest in most types of collateral by preparing a UCC-1 financing statement and filing it with the appropriate government agency (most often the Secretary of State or County Recorder). As the lender who has taken the risk and extended the loan, it’s critical to pay close attention to every detail when preparing the UCC financing statement. Even the seemingly smallest of typographical errors could render the filing ineffective and your priority position no more.

 

Can a Debtor Terminate a UCC Filing on Themselves?

Written by Amanda Rasizzi
Date February 2017

If you ever find yourself in that frustrating situation the answer is: Yes, you can, providing this is no existing obligation to the lender. This is provided for in Section 9-513 of the Uniform Commercial Code.

 

What’s in a Name? For UCC filers

Written by Amanda Rasizzi
Date February 2017

Today it’s more important than ever to make certain you have the proper debtor name on all of your UCC filings. Unfortunately, as with every complex, multi-stage human endeavor, errors happen. With a UCC debtor name error, however, that mistake may not be apparent until the debtor encounters financial difficulty and the entity issuing the loan needs to collect its collateral months, or even years later.

 

Search strategy and the four-part search

Written by Amanda Rasizzi
Date February 2017

In many transactions, proper due diligence includes searching the public record for UCC liens, as well as many other types of liens that may be on file in the various filing offices throughout the country. Unfortunately, with more than 4,300 possible filing offices, conducting a thorough and comprehensive search can be a daunting task! Here we provide a basic overview for formulating a search strategy.

 

UCC basics series #1: Fixture filings

Written by Amanda Rasizzi
Date February 2017

Have you ever wondered what a “fixture filing” is?  Learn more and see if filing a fixture filing is your right course of action.