Preparation of UCC Assignments Clause Samples

The Preparation of UCC Assignments clause outlines the responsibilities and procedures for drafting and executing Uniform Commercial Code (UCC) assignment documents. Typically, this clause specifies which party is responsible for preparing the necessary paperwork to assign or transfer a security interest, and may detail the timing, required information, and standards for completion. For example, it might require the seller to prepare and deliver UCC-3 assignment forms to the buyer upon closing. The core function of this clause is to ensure a smooth and legally compliant transfer of security interests, thereby reducing the risk of disputes or delays in perfecting the buyer’s rights.
Preparation of UCC Assignments. Pursuant to the Limited Power of Attorney in the form of Attachment J, Purchaser shall, at Purchaser’s cost and expense, prepare and file with respect to each Mortgage Loan a UCC assignment (“UCC Assignment”) for each effective financing statement that has been provided to Purchaser. If any Mortgage Loan is to be released and satisfied, pursuant to the Limited Power of Attorney in the form of Attachment J, Purchaser shall, at Purchaser’s cost and expense, prepare and file with respect to each Mortgage Loan, a UCC termination (“UCC Termination”) for each effective financing statement that has been provided to Purchaser. MLS 2011-1 Pool 106 and 107 Loan Sale Agreement Page 13
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Related to Preparation of UCC Assignments

  • Execution of Financing Statements Pursuant to any applicable law, each Grantor authorizes the Administrative Agent to file or record financing statements and other filing or recording documents or instruments with respect to the Collateral without the signature of such Grantor in such form and in such offices as the Administrative Agent determines appropriate to perfect the security interests of the Administrative Agent under this Agreement. Each Grantor authorizes the Administrative Agent to use the collateral description “all personal property” in any such financing statements. Each Grantor hereby ratifies and authorizes the filing by the Administrative Agent of any financing statement with respect to the Collateral made prior to the date hereof.

  • Amendments; Assignments A. Except as provided to the contrary herein, this Agreement may not be amended or modified in any manner except by a written agreement executed by both parties with the formality of this Agreement. B. This Agreement shall extend to and shall be binding upon the parties hereto, and their respective successors and assigns. This Agreement shall not be assignable by either party without the written consent of the other party, except that UMBFS may assign this Agreement to an affiliate with advance written notice to the Trust and except as provided in Section 2.02.

  • Electronic Execution of Assignments The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

  • Assignment of Agreements Each applicable Borrower shall have executed and delivered to Lender the Assignments of Agreements, and the Assignments of Agreements shall, to the extent prudent pursuant to local practice, have been irrevocably delivered to an authorized title agent for the Title Insurer for such recordation in the appropriate filing offices in the jurisdiction in which the applicable Individual Property is located.

  • Completion and Recordation of Assignments of Mortgage As soon as practicable after the Closing Date, the Servicing Transfer Date or the date on which a Qualifying Substitute Mortgage Loan is delivered pursuant to Section 2.05 of the Trust Agreement, as applicable (but in no event more than 90 days thereafter except to the extent delays are caused by the applicable public recording office), the Servicer shall cause the endorsements on the Mortgage Note (if applicable), and the Assignments of Mortgage (subject to Section 3.01(a)) to be completed in the name of the Trustee (or MERS, as applicable).