Oregon Security Interest Subordination Agreement
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How to fill out Security Interest Subordination Agreement?
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FAQ
Article 9 of the Uniform Commercial Code (UCC) provides various methods for a secured creditor to repossess collateral after default. The method for obtaining possession depends on the nature of the collateral and, to some extent, how the security interest was perfected.
Article 9 is a section under the UCC governing secured transactions including the creation and enforcement of debts. Article 9 spells out the procedure for settling debts, including various types of collateralized loans and bonds.
Default itself is not defined in Article 9 of the UCC; rather, Article 9 leaves to the parties the task of determining?typically in the security agreement or other related document?the situations in which the debtor's failure to live up to its end of the bargain may entitle the secured party to exercise remedies ...
What constitutes ?seriously misleading?? ing to UCC Article 9-506(b), a Financing Statement is seriously misleading if a search for the debtor's legal name does not reveal the filing. seriously misleading. ?Standard Search Logic? is the holy grail of determining whether or not a filing is seriously misleading.
A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing.
ATTACHMENT AND ENFORCEABILITY OF SECURITY INTEREST; PROCEEDS; SUPPORTING OBLIGATIONS; FORMAL REQUISITES. (a) [Attachment.] A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment.