Executed UCC Sample Clauses

The 'Executed UCC' clause refers to a provision confirming that a Uniform Commercial Code (UCC) financing statement has been properly completed and filed. In practice, this clause typically applies to secured transactions, where a lender files a UCC-1 statement to perfect its security interest in a borrower's collateral, such as inventory or equipment. By including this clause, the agreement ensures that the lender's rights are legally recognized and prioritized, thereby reducing the risk of disputes over collateral ownership or priority among creditors.