Examples of Filing Collateral in a sentence
The Lender’s security interest in the Filing Collateral will be perfected upon (i) execution and delivery of the Security Instrument by all parties thereto and (ii) the filing of the UCC financing Statements.
Borrower warrants and represents that the security interest granted herein shall be a perfected first priority security interest in the Filing Collateral (which security interest shall be perfected by the filing of any financing statements required by the Code) and in the Domestic Collateral Accounts (which security interest shall be perfected by “control” pursuant to Section 9104 or Section 9106 of the Code, as applicable), subject only to Permitted Liens.
In the meantime, we note that the Opinion does in fact assure HUD that the security interest in the Filing Collateral is perfected.
There is no equivalent opinion for the Filing Collateral (collateral where perfection is made by filing, not by control).
The Lessee Financing Statements are in proper form for filing and acceptance in the Filing Offices (including specification of Lessee’s exact legal name), and upon filing and acceptance of the Lessee Financing Statements in the Filing Offices, the security interest in the Filing Collateral will be perfected in favor of the Secured Party.