Status Under the Uniform Commercial Code Sample Clauses
The "Status under the Uniform Commercial Code" clause defines how the agreement or specific goods and transactions are classified and governed under the UCC, which is a set of standardized laws regulating commercial transactions in the United States. This clause typically clarifies whether the contract is considered a sale of goods, a secured transaction, or another type of arrangement under the UCC, and may specify which articles of the UCC apply. By doing so, it ensures that both parties understand the legal framework that will govern their rights and obligations, reducing uncertainty and potential disputes about applicable law.
Status Under the Uniform Commercial Code. The Class B, Series 1 Units shall be deemed to be securities governed by Article 8 of the Uniform Commercial Code as in effect from time to time in Delaware.
Status Under the Uniform Commercial Code. Membership Interests shall be deemed to be securities governed by Article 8 of the Uniform Commercial Code as in effect from time to time in the State of Delaware. The Membership Interests are not evidenced by certificates, and will not be evidenced by certificates. The Company is not authorized to issue certificated interests. The Company will keep a register of Membership Interests, in which it will record all transfers of Membership Interests.
Status Under the Uniform Commercial Code. All Interests in the Company shall be securities governed by Article 8 of the Uniform Commercial Code as in effect from time to time in the State of Arizona. The Interests are not evidenced by certificates, and will remain not evidenced by certificates. The Company is not authorized to issue certificated Interests. The Company will keep a register of the Members’ Interests, in which it will record all Transfers of Members’ Interests made in accordance with Article VIII of this Agreement.
Status Under the Uniform Commercial Code. All Interests in the Fund shall be securities governed by Article 8 of the Uniform Commercial Code as in effect from time to time in the State of Delaware. The Interests are not evidenced by certificates and will remain not evidenced by certificates. The Fund is not authorized to issue certificated Interests. The Fund will record in the Interest Register all Transfers of Members’ Interests made in accordance with Article VI of this Agreement.
Status Under the Uniform Commercial Code. The Class P Units shall be deemed to be securities governed by Article 8 of the Uniform Commercial Code as in effect from time to time in Delaware.