Common use of Revised Article 9 Clause in Contracts

Revised Article 9. Borrower acknowledges and agrees to the following provisions with respect to the application of revised Article 9 of the Uniform Commercial Code, in the form or substantially in the form approved by the American Law Institute and the National Conference of Commissioners on Uniform State Laws, as contained in Appendix XVI of the 1999 edition of the Uniform Commercial Code Official Text (as adopted in the applicable jurisdiction, “Revised Article 9”):