Non-UCC Property definition
Non-UCC Property means any of the Collateral consisting of personal property the creation, granting or perfection of a Lien upon or in which is governed by Applicable Law other than the UCC and Applicable Law under, or relating to, the UCC.
Non-UCC Property means any personal property of the Borrowers a security interest in which may not be perfected pursuant to the UCC and in which the security interest granted to the Agent for the ratable benefit of the Lenders pursuant to this Agreement has not been duly perfected under other applicable law.
Examples of Non-UCC Property in a sentence
Such Grantor neither owns nor holds any interest in any Non-UCC Property, except for any Excluded Personal Property with respect to such Grantor.
Neither own nor hold any interest in any Non-UCC Property, except for any Excluded Personal Property with respect to such Grantor.