perfected security interest definition

perfected security interest means a security interest that has become effective against third parties by control, possession, registration or temporarily, as provided in this Act;

perfected security interest means a security interest that has been created and becomes effective against third parties by control, possession, or registration, as the case may be;

perfected security interest means, with respect to any Lien purported to be created in any Collateral pursuant to any Security Document, that (a) such Lien is governed by the law of the jurisdiction in which such Collateral is located or to which such Collateral is subject, (b) such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien (which Permitted Lien is junior in priority to the Collateral Agent’s Lien on such Collateral, is arising by operation of law as described in Section 6.02(d), (e), (k) or (r) or is subject to a Reserve) and (c) all applicable perfection requirements required by the Loan Documents have been completed.

Examples of perfected security interest in a sentence

• The Customer will, when requested by the company promptly execute any documents and do anything else required by the Company to ensure that the Security Interest created under this Agreement constitutes a first ranking perfected Security Interest over the Products and their proceeds, including providing any information the Company reasonably requires to complete a Financing Statement or a Financing Change Statement and register such on the PPSR.

• You must promptly do anything required by us to ensure that any Security Interest granted to us is a perfected Security Interest and has priority over all other Security Interests in any item of plant and equipment (whether fixed or unfixed) and/or any works.

• Grantor will deliver to Secured Party all financing statements and execute and deliver control agreements and other documents and take such other actions as may from time to time be requested by Secured Party in order to maintain a first perfected Security Interest in the Collateral.

• Each Pledgor will deliver to Lender all financing statements and execute and deliver control agreements and other documents and take such other actions as may from time to time be requested by the Lender in order to maintain a first perfected Security Interest in the Collateral.

• The Ally Parties may each file financing statements, note their liens on titles, and take any other steps in order to establish, confirm, and maintain a perfected Security Interest in the Collateral.

More Definitions of perfected security interest

perfected security interest means a security interest created by a security agreement and perfected in accordance with paragraph 2;

perfected security interest means, with respect to any Lien purported to be created in any Collateral pursuant to any Security Document, that (a) such Lien is governed by the law of the jurisdiction in which such Collateral is located or to which such Collateral is subject, (b) such Lien is the only Lien to which such Collateral is subject, other than any Liens permitted by Section 6.02 (which Lien is junior in priority to the Collateral Agent’s Lien on such Collateral, is arising by operation of law as described in Section 6.02(d), (e), (k) or (t) or is subject to a Reserve or, in the case of Liens on Eligible Real Property, such Liens are covered by any applicable title insurance, to the extent available in such jurisdiction), (c) in the case of Eligible Real Property located in the England and Wales, such Eligible Real Property is covered by a legal mortgage, (d) in the case of Eligible Real Property located in Germany, such Eligible Real Property is encumbered by a first ranking land charge in favor of the Collateral Agent and the land charge is registered in all relevant local registers) and (e) all applicable perfection requirements required by the Loan Documents have been completed.

perfected security interest means a security interest that has become effective against third parties by registration of a notice, possession of a tangible asset, the execution of a control agreement or temporarily perfected, as provided in this Act;

perfected security interest means, with respect to any Lien purported to be created in any Collateral pursuant to any Security Document, that

perfected security interest means the security interest is perfected by possession or by registration or is temporarily perfected, as the case may be;

perfected security interest and “verification statement” have the meanings given to them under, or in the context of the PPSA.

perfected security interest means a Security Interest that is properly perfected under Article 9 of the Washington UCC by filing or possession, and the term “Lien” means a Security Interest or other lien or encumbrance;