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Based on 9 documents. 9. Loan Termination Date means the date on which all Obligations, other than contingent liabilities and obligations which are unasserted at such date, have been paid and satisfied in full and all Commitments have been terminated.
Does a UCC termination need to be signed?
No signatures are required if included they will be redacted. No SSN or TIN numbers required if included they will be redacted. Debtor and Secured Party may not appear to be the same.
How serious is a UCC lien?
Having a UCC-1 filing or lien tied to your name or business isnt necessarily a bad thing. Its simply a public record stating that a lender has the rights to certain assets until that loan is repaid. That record will also show if the loan has been repaid or not.
Can you continue a terminated UCC?
If the debtor (or another creditor) filed the Termination without proper authority and then the secured party of record filed a Continuation, the Continuation would extend the term of effectiveness for the Financing Statement since the Termination was not valid.
What does termination of interest mean?
Termination Interest Rate means, in respect of a Permitted Termination Date, a zero-coupon rate for the remaining term of the Transaction, as derived by the Calculation Agent from the mid-market USD swap curve or USD-LIBOR-BBA.
Related Searches
termination statement exampleucc-3 termination statementsloan termination meaningcan a debtor file a ucc termination statementwho files a ucc terminationucc termination fee
A UCC-3 termination statement (a Termination) is a required filing that terminates a security interest that has been perfected by a UCC-1 filing. A Termination for personal property is accomplished by completing and filing form UCC-3 with the Secretary of States office in the appropriate state.
Can a UCC filing be removed?
Ask the lender to terminate the lien upon payoff. A good rule of thumb is to request that your lender file a UCC-3 form with your secretary of state as soon as possible after you pay off your loan. The UCC-3 will terminate the lien on your companys assets (or assets) and remove the UCC-1 filing.
Can a statement of work be changed?
Any contract resulting from this Statement of Work (SOW) may be modified at any time to accommodate increases or decreases in the number of end users supported, the number of systems requiring support, and legislative changes that affect agency system and/or data requirements.
Can lender cancel loan after funding?
Certain factors beyond your control can cause lenders to rescind a loan. In some cases, lenders rescind approved mortgage loans because you didnt close your purchase in time. In other instances, a lender might rescind an approved loan because interest rates have moved up, making the loan unaffordable for the borrower.
Can a bank terminate a loan?
Depending on your contract, a bank or dealership could revoke your loan even after youve signed a contract.
Related links
9-513. TERMINATION STATEMENT. | US Law
(a) [Consumer goods.] A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing
8.9A-513. Termination statement. (a) Consumer goods. A secured party shall cause the secured party of record for a financing statement to file a termination
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