Common use of Authorization to File UCC Financing Statements Clause in Contracts

Authorization to File UCC Financing Statements. Customer acknowledges that it is selling its Future Receipts to Purchaser, and as such, hereby authorizes Purchaser to file a financing statement pursuant to the Uniform Commercial Code (“UCC”) to evidence such sale. The UCC financing statement may state that the sale of the Future Receipts is intended to be a sale and not an assignment for security. Customer and each Principal agree to execute any documents or take any action in connection with this Agreement that Purchaser deems necessary to perfect or maintain Purchaser’s interest in the Future Receipts purchased pursuant to this Agreement.