UCC § 9620 Proposal Clause Samples

UCC § 9620 Proposal. This Agreement constitutes a "proposal" within the meaning set forth and pursuant to UCC §§ 9102(a)(66), 9620, 9621 and 9622, setting forth the terms on which SSCY and S3 are each willing to consent to the acceptance of the Assets in partial satisfaction of obligations under the Loan Documents. This Agreement, subject to the terms hereof, constitutes the consent of SSCY and S3 to such proposal pursuant to the UCC, and Noteholders' acceptance thereof. Noteholders and/or Agent shall be responsible for compliance with UCC § 9620 and/or related provisions.