Precautionary Financing Statements definition
Precautionary Financing Statements means UCC financing statements appropriately completed and executed for filing in each applicable jurisdiction naming the Lessor as the secured party and the Lessee as the debtor in order to protect the interests of each of the Lessor Parties under the Operative Documents to the extent that Article XV of the Master Lease constitutes a security agreement.
Examples of Precautionary Financing Statements in a sentence
Upon execution by the Lessee and recording thereof of the Precautionary Deed of Trust, and upon execution and filing of the Precautionary Financing Statements, the Agent will have a valid first lien on the Lessee's interest in the Property and a valid security interest in the personal property thereon subject to no Liens, charges or encumbrances other than the Permitted Exceptions.