Pennsylvania UCC definition
Examples of Pennsylvania UCC in a sentence
If an Event of Default shall occur and be continuing, the Administrative Agent, on behalf of the Secured Parties, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Obligations, all rights and remedies of a secured party under the Pennsylvania UCC or any other applicable law.
To the extent this Lease constitutes chattel paper, as that term is defined in the Uniform Commercial Code as adopted and in effect in the Commonwealth of Pennsylvania ("UCC"), no security interest in the Lease may be created through the transfer of possession of any counterpart other than the Lessor copy of the numbered Schedule.
If Buyer defaults on any of its obligations, Seller shall have all rights and remedies of a secured party under Pennsylvania U.C.C. Article 9 or equivalent and may without prejudice, defer further shipment until such defaults are remedied or decline further performance of any agreement with Buyer.
The Administrative Agent’s sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Pennsylvania UCC or otherwise, shall be to deal with it in the same manner as the Administrative Agent deals with similar property for its own account.
Secured Party is hereby authorized to file financing statements and amendments to financing statements without Debtor's signature, in accordance with the Uniform Commercial Code as in effect on the date hereof in the Commonwealth of Pennsylvania ("UCC"), in any filing office as Secured Party, in its sole discretion may determine.
If an Event of Default shall occur and be continuing, the Agent, on behalf the Lenders, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Obligations, all rights and remedies of a secured party under the Pennsylvania UCC or any other applicable law.
On December 23, 2022, Plaintiffs filed a Class Action Complaint in the Court of Common Pleas of Philadelphia County, Pennsylvania at Docket No. 221202205 (“State Action”) seeking to recover for alleged violation of the Pennsylvania UCC independently and in pari materia with the Pennsylvania MVSFA due to ▇▇▇▇’s alleged failure to comply with the MVSFA’s minimum notice period requirements relating to its Notices of Repossession.
If Buyer defaults on any of its obligations, Seller shall have all rights and remedies of a secured party under Pennsylvania U.C.C. Article 9 or equivalent and may, without prejudice, defer further shipment until such defaults are remedied or decline further performance of any agreement with Buyer.
The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Pennsylvania UCC or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account.
The Transaction Documents, exclusive of the Pledge Agreement, are effective to create in favor of the Lenders and/or the Administrative Agent, as applicable, as security for the obligations under such Transaction Documents, a security interest (the “Article 9 Security Interest”) in the Collateral described in such Transaction Documents in which a security interest may be created under Article 9 of the Pennsylvania UCC (the “Article 9 Collateral”).