Source: http://www.pli.edu/Content/Treatise/Asset_Based_Lending_A_Practical_Guide_to/_/N-4lZ1z132o9?Ns=sort_title%7C0&ID=144128
Timestamp: 2013-05-22 21:38:28
Document Index: 138788020

Matched Legal Cases: ['§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 5', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', '§ 6', 'arty6', '§ 6', '§ 6', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 7', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 8', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 9', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 11', '§ 11', '§ 11', '§ 11', '§ 11', '§ 11', '§ 11', '§ 11', '§ 11', '§ 11', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 12', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 14', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', '§ 15', 'arty15', '§ 15', '§ 15', '§ 15', 'arty15', '§ 15', 'arty15', '§ 15', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 16', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 18', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19', '§ 19']

PLI: Treatises - Asset-Based Lending: A Practical Guide to Secured Financing
Asset-Based Lending: A Practical Guide to Secured Financing(7th Edition)
by John Francis Hilson
Copyright: 2011-2012
ISBN Number: 9781402416408
"[Asset-Based Lending] is a polished gem that deftly brings into focus the major issues.”
This is the Seventh Edition of Asset-Based Lending: A Practical Guide to Secured Financing and it includes many new and updated segments. The changes that have been made include updates relative to: goods that are subject to certificates of title; the UCP and ISP98 rules that govern letters of credit; the Empressas Cablevision case; the ABA’s Model Intercreditor Agreement; fraudulent transfer issues in leveraged buyouts; recent case law concerning PACA and the distinction under PACA between a secured lender with a security interest in the receivables of a debtor and a factor that has purchased the receivables; the issue of “gifting" under chapter 11 plans of reorganization and the decision in the DBSD case, and the issue of the right of a secured creditor to credit bid in the context of a chapter 11 plan of reorganization; letters of intent as well as legal and market developments relative to commitment letters; legal developments that lenders should take into consideration; identifying those proposed revisions to Article 9 that are most relevant to asset-based lending; and to DIP financing, including forms of interim and final orders.
Asset-Based Lending also guides you on how to accurately assess a borrower’s solvency before initiating a deal; plan for bankruptcy risks when analyzing secured loans; resolve conflicts between lead lenders and loan participants; and reduce lenders’ liability exposure to environmental, securities, and tax laws.
Updated at least once a year, Asset-Based Lending: A Practical Guide to Secured Financing is an important tool for every attorney, executive, business professional, and public official involved in secured financing.
Accounts Receivable Financing; And Appendix 1A: General Continuing Guaranty
§ 1:2.2 : Secured Receivables1-7
[A] : Contractual Security Interests1-7
[B] : Statutory Liens1-8
§ 1:2.6 : Healthcare Receivables Financing1-14
[A] : Medicare and Medicaid: Overview1-15
[B] : Legislation to Curb Perceived Abuses1-15
[C] : Narrowing of the Limitations on Security Interests in Governmental Receivables1-16
[D] : The Double Lockbox Technique1-19
[E] : Conclusion1-22
§ 1:2.7 : Problem Areas1-22
[A] : Goods Owned by or Securing Others1-22
[B] : Rendition of Services1-25
[C] : Bill and Hold1-26
[D] : Ordinary-Course Transaction1-26
[E] : “Hidden Liens”1-26
[F] : Use of Assumed Names or Trade Styles1-29
[G] : Nonassignability Clauses1-29
[H] : Contra Accounts1-29
[I] : Inventory Liens1-30
[J] : State Enforcement Statutes1-30
§ 1:3 : Transaction Types and Characteristics1-31
§ 1:3.1 : Commercial Finance1-31
[A] : Direct Loans1-31
[B] : Revolving Versus Term Loans1-31
[C] : Payable on Demand1-32
[D] : On Open Account1-32
[E] : Security1-33
[F] : Control of Collateral1-33
[G] : Non-Notification1-34
[H] : Control of Proceeds1-34
[I] : Lending Formula1-46
[J] : “Pursuant to a Commitment”1-48
[K] : Collection Days1-48
§ 1:3.2 : Nonpossessory or “Bank” Financing1-49
[A] : Direct Loans1-49
[B] : Revolving Loans1-49
[C] : Note1-50
[D] : Security1-50
[E] : Lack of Controls on Collateral1-50
[F] : Lending Formula1-51
[G] : Periodic Settlement1-51
§ 1:3.3 : Multiple Borrowers1-51
§ 1:3.4 : Multiple Lenders1-52
§ 1:3.5 : Guaranties1-55
Purchases of Accounts; And Appendices 2A-2E
§ 2:1 : Introduction2-2§ 2:2 : Treatment Under the U.C.C.2-3§ 2:2.1 : Sale of Accounts2-3§ 2:2.2 : Sale of Intangibles2-3§ 2:3 : Factoring2-4§ 2:3.1 : Origins2-4§ 2:3.2 : Characteristics2-4[A] : Sale2-5[B] : Types of Accounts Sold2-5[C] : Limited Recourse; Disputes and Chargeback2-5[D] : Notice to the Customer2-6[E] : Credit Approval2-6[F] : Determination and Payment of the Purchase Price2-7[G] : Record Keeping2-8§ 2:3.3 : Variations on the Theme2-8[A] : Advance Factoring2-9[B] : Discount Factoring2-10§ 2:3.4 : Equity Loans2-11§ 2:4 : Off-Balance-Sheet Accounts Financing2-12§ 2:4.1 : In General2-12§ 2:4.2 : Characteristics2-13[A] : Batch Operation2-13[B] : Credit Approval2-13[C] : Notification2-13[D] : Perfection2-13[E] : Collection of Accounts2-14[F] : Recourse2-15§ 2:5 : True Sale; Purchase Versus Loan2-15§ 2:5.1 : Introduction2-15§ 2:5.2 : Accounting Sale Requirements2-16§ 2:5.3 : Legal Sale Requirements2-16§ 2:5.4 : Tax Sale Requirements2-22§ 2:5.5 : Related Legal Issues2-23§ 2:6 : Securitization2-23§ 2:6.1 : Introduction2-23§ 2:6.2 : Basic Elements2-24[A] : Special-Purpose Vehicle2-24[B] : Funding of Vehicle2-26[C] : Nature of Purchase/Facility2-29[D] : Collection Agent2-30[E] : Backup Facilities for the Vehicle2-30§ 2:6.3 : Nature of Accounts Financed2-31§ 2:6.4 : Bankruptcy Issues2-32[A] : Bankruptcy of the Vehicle2-32[B] : Bankruptcy of the Originator2-33§ 2:6.5 : Intangibles Subject to Federal Law2-34§ 2:6.6 : Tax Issues2-36§ 2:7 : Documentation2-36§ 2:7.1 : Factoring2-36§ 2:7.2 : Off-Balance-Sheet Financing2-37§ 2:7.3 : Intangibles2-37Appendix 2A : Factoring Agreement (Wholesale-Maturity)App. 2A-1Appendix 2B : Factoring Agreement (Retail-Advance)App. 2B-1Appendix 2C : Assignment of Factoring Proceeds and Intercreditor AgreementApp. 2C-1Appendix 2D : Agreement for the Off-Balance-Sheet Financing of Export ReceivablesApp. 2D-1Appendix 2E : Trademark Collateral Assignment and Security AgreementApp. 2E-1
Inventory Financing; And Appendices 3A-3C
§ 3:1 : Introduction3-2§ 3:1.1 : Definition of Inventory3-2[A] : Goods3-3[B] : Held for Sale or Lease3-3[C] : To Be Furnished Under Contracts of Service3-4[D] : Raw Materials, Work in Progress3-4[E] : Materials Used or Consumed in a Business3-5§ 3:1.2 : Types of Inventory3-5§ 3:1.3 : Types of Financing3-6[A] : Working Capital3-6[B] : Purchase Money3-7§ 3:1.4 : Consignments Under Article 93-8[A] : What Constitutes a Consignment Under Article 9?3-8[A][1] : Delivery for Purpose of Sale3-9[A][2] : The Merchant3-10[A][3] : Excluded Consignments3-11[B] : Perfection and Priority Rules for Consignments3-11[C] : Practical Considerations Regarding Consignment Transactions3-12§ 3:2 : Fungible Inventory Financing3-13§ 3:2.1 : Blanket Financing by a Lender3-13[A] : Basic Elements3-13[B] : Link with Receivables3-13[C] : Formula3-14[D] : Possession/Control3-15[E] : Sale of Goods3-16[F] : Other Agreement Terms3-17§ 3:2.2 : Blanket Financing by a Vendor3-17[A] : Basic Elements3-17§ 3:2.3 : Unitary Financings3-18[A] : Letter of Credit3-18[B] : Documentary Drafts3-18§ 3:2.4 : Statutory Aspects3-19[A] : Perfection and Priority3-19[B] : Other Priority Issues3-20[C] : Trademarks3-21[D] : Regulated Industries3-22[E] : Regulated Goods3-22§ 3:3 : In-Transit Inventory3-22§ 3:3.1 : Negotiable Documents3-23[A] : Perfection with Respect to Goods Covered by Negotiable Documents3-23[B] : Rights of the Secured Party Against a Holder of the Negotiable Documents That Have Been Duly Negotiated3-26§ 3:3.2 : Perfection with Respect to Goods Covered by Nonnegotiable Documents3-28§ 3:3.3 : Perfection with Respect to Goods Not Covered by Documents3-28§ 3:3.4 : Rights of Stoppage3-30§ 3:3.5 : Choice of Law Issues Related to In-Transit Inventory3-32§ 3:3.6 : Practical Considerations Regarding In-Transit Inventory3-35§ 3:4 : Unit Inventory Financing; Floor Plan3-36§ 3:4.1 : Basic Elements3-36[A] : Types of Units3-36[B] : Parties3-36[C] : Advance Rate3-37[D] : Agreement Terms3-37[E] : Interface with Chattel Paper3-38[F] : Cross-Collateral3-38[G] : Perfection3-39[H] : Intercreditor Issues and Priority3-39§ 3:5 : Documents3-40Appendix 3A : General Security Agreement (Inventory)App. 3A-1Appendix 3B : Intercreditor AgreementApp. 3B-1Appendix 3C : Intercreditor AgreementApp. 3C-1
Equipment and Fixture Financing; And Appendices 4A-4D
[A] : The Basic Term “Goods”4-3
[B] : The Basic Definition of “Equipment”4-3
[E] : Contrasted with Other Goods4-5
[F] : Accessions4-5
§ 4:2.2 : Defining the Transaction4-6
[A] : Purchase Money or Not4-6
[B] : Type of Transaction4-10
[C] : Contrast with Lease4-11
[D] : Retail Transactions4-12
§ 4:3 : Documenting the Transaction4-13
§ 4:3.1 : Purchase Money Vendor Transactions4-13
[A] : Security Agreement4-13
[B] : Warranty and Waiver Provisions4-13
§ 4:3.2 : Purchase Money Lender Transactions4-13
[B] : Loan Proceeds Payment Letter4-14
§ 4:3.3 : Non-Purchase Money Transactions4-14
§ 4:3.4 : Documents and Issues in Common4-14
[A] : Description of Collateral4-14
[B] : Title to the Equipment4-15
[C] : Landlord/Mortgagee Waiver4-16
[D] : Use of Premises4-17
[E] : Insurance4-17
[F] : Financing Statement4-17
[G] : Vendor Repurchase4-19
[H] : Delivery and Installation Certificate4-19
[I] : Proceeds4-20
[J] : Related Rights4-20
§ 4:3.5 : Certificate-of-Title Goods4-21
[A] : Covered Goods4-21
[B] : Perfection4-21
§ 4:4 : Fixture Financing4-23
§ 4:4.1 : Definitional Issues4-24
[A] : Basic U.C.C. Definition4-24
[B] : State Law4-24
[C] : Related U.C.C. Definitions4-24
§ 4:4.2 : Perfection4-25
[A] : Mortgage4-25
[B] : Financing Statement Filed in the Real Property Records4-26
[C] : Financing Statement Filed in the Personal Property Records4-26
§ 4:4.3 : Priority4-26
[A] : Normal Priority4-26
[B] : Purchase Money Priority4-27
[C] : Movable Goods4-27
[D] : Manufactured Homes4-28
[E] : Lien Creditors4-28
[F] : Transactional Subordination4-29
[G] : Subordination4-29
[H] : Removal4-29
§ 4:5 : Collateral Assignments of Real Estate Leases4-30
§ 4:6 : Documents4-30
Appendix 4C : Security AgreementApp. 4C-1
Appendix 4D : Collateral Assignment of LeasesApp. 4D-1
Chattel Paper; And Appendix 5A: Conditional Sale Contract (Security Agreement)
§ 5:1 : Introduction5-1§ 5:2 : Definitional Issues5-2§ 5:2.1 : Chattel Paper5-2§ 5:2.2 : Lease Versus Finance Transaction5-3§ 5:3 : Creation of the Paper5-3§ 5:3.1 : Types of Chattel Paper5-3§ 5:3.2 : Terms5-4[A] : Monetary Obligation5-5[B] : Waiver of Defenses5-5[C] : Some Lease Provisions5-5[D] : Time-Price Doctrine5-5§ 5:3.3 : State Regulation5-6§ 5:4 : Financing Choices5-7§ 5:4.1 : Finance Transactions5-7[A] : Amount of Advance5-7[B] : Amortization5-7[C] : Independence of Transaction5-8§ 5:4.2 : Sale Transactions5-8[A] : Price and Payment5-9[B] : Collections5-9[C] : Recourse5-9§ 5:4.3 : Reserves5-10§ 5:5 : Priority Problems5-11§ 5:6 : Documentation5-13Appendix 5A : Conditional Sale Contract (Security Agreement)App. 5A-1
Letters of Credit; And Appendices 6A-6C
§ 6:1 : Introduction6-2§ 6:1.1 : Nature of a Letter of Credit6-2[A] : Legal Effect6-2[B] : Parties6-4[C] : Characterization6-4§ 6:2 : Uses of Letters of Credit6-5§ 6:2.1 : Support of Commercial Paper6-5§ 6:2.2 : Assure Payment of Investment Obligations6-5§ 6:2.3 : Support Industrial Revenue Bonds6-6§ 6:2.4 : Replace Cash Deposits6-6§ 6:3 : Applicable Law6-6§ 6:4 : Issuers of Letters of Credit6-7§ 6:5 : Characteristics of Letters of Credit6-8§ 6:5.1 : Commercial Letter of Credit6-8§ 6:5.2 : Standby Letter of Credit6-9§ 6:5.3 : “Direct Pay” Letter of Credit6-10§ 6:5.4 : Payment upon Demand Alone6-11§ 6:6 : Documentation6-11§ 6:6.1 : Application6-11§ 6:6.2 : Reimbursement Agreement6-11§ 6:6.3 : Drafts and Documents6-12§ 6:6.4 : Other Documents6-13§ 6:6.5 : Bank Authority6-14§ 6:7 : Provisions of Letters of Credit6-14§ 6:7.1 : Revocability6-14§ 6:7.2 : Multiple Drawings6-16§ 6:7.3 : Acts of God6-16§ 6:7.4 : Transferability and Assignment6-17§ 6:7.5 : Right to Pay6-19§ 6:8 : Enforcement of Letters of Credit6-19§ 6:8.1 : Issuer’s Basic Obligation or Right to Pay6-19§ 6:9 : Bankruptcy Considerations6-22§ 6:9.1 : Bankruptcy of the Account Party6-22§ 6:9.2 : Bankruptcy of the Beneficiary6-24§ 6:10 : Documentation6-24Appendix 6A : Reimbursement AgreementApp. 6A-1Appendix 6B : Letter Agreement for Assigning the Right to Proceeds Under a Letter of CreditApp. 6B-1Appendix 6C : Standby Letter of CreditApp. 6C-1
§ 7:1 : Introduction7-2§ 7:2 : General Types7-2§ 7:3 : Distinction from Conditions7-4§ 7:4 : Distinction from Events of Default7-5§ 7:5 : Distinction from Representations and Warranties7-6§ 7:6 : Covenants in Commercial Finance7-6§ 7:6.1 : Traditional Covenants7-7[A] : Collateral Maintenance7-7[B] : Collateral Protection7-8[C] : Change of Structure or Location7-9[D] : Maintenance of Existence7-9[E] : Maintenance of Perfection7-10[F] : Furnishing of Information7-10[G] : Lien Prohibition7-11[H] : Ordinary-Course Receivable Creation7-12[I] : Compliance with Laws7-12[J] : Leases7-12[K] : Environmental Matters7-12[L] : Interest Rate Protection7-13[M] : Determination of Borrowing Base7-13[N] : Transactions with Affiliates7-14[O] : Use of Proceeds7-14[P] : Accounting Methods7-14[Q] : ERISA and Tax Compliance7-14[R] : Insurance7-14[S] : Title to the Goods7-15[T] : Location of the Goods7-16[U] : Disposition of the Goods7-16[V] : Other Protections7-17§ 7:6.2 : Expanded Covenants7-17[A] : Financial Positions and Ratios7-17[B] : Dividend and Investment Restrictions7-19[C] : Capital Expenditures7-20[D] : Debt Limitations7-20[E] : Reporting Requirements7-21§ 7:7 : Role of Covenants in Purchases of Receivables7-21§ 7:8 : Role of Covenants in Financing of Intellectual Property7-22§ 7:8.1 : Collateral Protection by Debtor7-22§ 7:8.2 : Lender/Borrower Covenants7-23§ 7:8.3 : Borrower Representations7-23§ 7:8.4 : Default7-24§ 7:9 : Documentation [Review]7-24
Participations and Assignments
[A] : Purchase Characteristics8-4
[I] : Sales of Other Participations8-21
[J] : Bankruptcy of the Lead Lender8-21
[K] : Performance by Participant8-23
[L] : Indemnities and Expenses8-23
§ 8:2.4 : Multi-Lender Issues8-24
§ 8:3 : Participations in Purchases of Receivables8-26
§ 8:3.1 : Factoring Participation8-26
§ 8:3.2 : Layoff Agreements8-26
§ 8:3.3 : Off-Balance-Sheet Transactions8-27
§ 8:4 : Reverse Participations8-27
§ 8:4.1 : Purpose8-27
§ 8:4.2 : Mechanics8-27
§ 8:5 : Junior Participations8-28
§ 8:5.1 : Equalization or Default Participations8-29
[A] : Origination8-29
[B] : Mechanics8-30
§ 8:6 : Syndicated Loans and the Secondary Loan Trading Market8-31
§ 8:6.1 : Introduction8-31
§ 8:6.2 : Development of Loan Trading Market8-31
§ 8:6.3 : Types of Secondary Loan Sales8-33
§ 8:6.4 : Formation of the LSTA8-35
§ 8:6.5 : Syndicated Loan Trading and the Use of LSTA Documentation8-36
[A] : Underwriting and Due Diligence8-37
[B] : Binding Trade and Trade Confirmation8-37
[C] : Documentation Requirements and Timing8-38
[D] : LSTA Standard Terms and Conditions8-39
§ 8:6.6 : Syndicated Loan Market Information8-40
Debt Subordination; And Appendix 9A: Debt Subordination Provisions for Note; And Appendix 9B: Intercreditor Agreement
§ 9:2 : Debt Subordination9-3
§ 9:2.2 : Degree of Subordination9-6
[A] : Principal9-7
[B] : Interest9-10
[C] : Standstill9-10
§ 9:2.3 : Enforcement9-11
[A] : Direct Collection9-11
[B] : Turnover9-11
[C] : Reliance9-12
§ 9:2.4 : Related Problem9-13
[A] : Junior Covenants9-13
[B] : Events of Default9-14
[C] : Senior Debt Amendments and Changes9-14
[D] : Junior Debt Amendments and Changes9-15
[E] : Indenture Trustees9-15
[F] : Junior Voting Provisions9-16
[G] : Maturity of Junior Debt9-16
§ 9:2.5 : Subordinated Debt As “Capital”9-17
[A] : Verification9-17
[B] : Debt Versus Equity9-17
§ 9:2.6 : U.C.C.9-17
§ 9:2.7 : Bankruptcy Issues9-18
[A] : Enforceability9-18
[B] : Turnover9-18
[C] : Reinstatement9-18
[D] : Waivers9-18
§ 9:2.8 : Drafting Concerns9-19
[A] : Notice Considerations9-19
[B] : Borrower9-20
§ 9:2.9 : Subrogation9-20
§ 9:3 : Lien Subordination9-21
§ 9:3.1 : Definition Issues9-21
[A] : Debt9-21
[B] : Collateral9-22
[C] : Liens9-23
[D] : Parties9-24
§ 9:3.2 : Extent of Subordination9-24
[A] : Standstill9-25
[B] : Review Rights9-26
[C] : Marshaling9-26
§ 9:3.3 : Circular Liens and Waivers9-27
[A] : Circular Liens9-27
[B] : Waivers9-28
§ 9:3.4 : Intercreditor Agreements9-29
§ 9:4 : Purchase Option9-30
§ 9:5 : Structural Subordination9-30
§ 9:6 : Equitable Subordination9-31
§ 9:7 : Documentation9-31
§ 9:7.1 : Debt Subordination9-31
§ 9:7.2 : Lien Subordination9-31
§ 10:2.3 : Uniform Fraudulent Transfer Act10-6
§ 10:4 : Consideration or Value10-8
[C] : U.F.T.A.10-12
§ 10:4.3 : Recipient of Consideration10-14
§ 10:4.4 : Repayment of Existing Debt10-15
§ 10:4.5 : Savings Clauses10-18
§ 10:5.1 : Solvency Letters or Procedures10-21
§ 10:5.2 : Assets10-22
§ 10:5.3 : Liabilities10-25
§ 10:5.4 : Leveraged Buyout Merger/Pro Forma Technique10-27
§ 10:6 : Unable to Pay Its Debts10-30
§ 10:9 : Creditor Remedies10-33
§ 10:9.1 : Generally10-33
§ 10:9.2 : Protection of a Buyer/Transferee10-35
§ 11:2.4 : Assignees, Subrogees, Affiliates and Other Acquirers11-6
§ 11:2.6 : Sellers of Goods11-9
§ 11:2.8 : Certified Securities, Instruments and Negotiable Documents11-10
§ 11:4.1 : Suppliers of Goods11-20
§ 11:4.4 : Warehousemen11-22
§ 11:5.2 : Government Contracts11-28
§ 11:5.3 : Special Statutes11-28
§ 11:5.4 : Hot Goods11-29
§ 11:5.5 : Environmental Laws11-29
§ 11:5.6 : Perishable Agricultural Commodities Act11-30
§ 12:2 : Lender’s Right to Deal with the Collateral12-2
§ 12:2.1 : Automatic Stay12-2
[A] : Lifting the Stay12-3
[B] : Leased Property12-7
[C] : Consigned Inventory12-9
§ 12:2.3 : Offset12-10
§ 12:3 : Debtor’s Rights to Use the Collateral12-10
§ 12:3.2 : Noncash Property12-11
§ 12:4 : Provision for “Adequate Protection”12-12
§ 12:5.2 : Documentation12-16
§ 12:5.3 : Crossover Versus Continuing Lien12-17
§ 12:5.4 : Protecting the Repayment of New Loans12-18
§ 12:5.5 : Ability to Foreclose12-19
§ 12:6 : Other Dangers for the Secured Creditor12-23
§ 12:6.1 : Preference12-23
§ 12:6.2 : Fraudulent Conveyances12-28
§ 12:6.3 : Other Financings12-28
§ 12:6.4 : Offsets12-29
§ 12:6.5 : Fair Labor Standards Act12-31
§ 12:6.6 : Equitable Subordination12-31
§ 12:6.7 : Chapter 11 Plans12-34
[A] : Credit Bidding12-35
[B] : “Gifting”12-37
Closing Considerations; And Appendices 13A-13E
§ 13:1 : Introduction13-2§ 13:2 : Receivables Finance Takeover13-3§ 13:2.1 : Alternative Choices13-3[A] : Purchase of Position13-3[B] : Payout of Old Lender13-4§ 13:2.2 : Mechanics13-5[A] : Purchase13-5[B] : Payout13-7[C] : Indemnities by New Lender13-10[D] : General Closing Steps13-11§ 13:3 : Factoring13-15§ 13:3.1 : Differences from Receivables Finance13-16[A] : Re-Assignment of Receivables13-16[B] : Credit Balance13-16[C] : U.C.C. Filings13-17[D] : Indemnity13-17§ 13:4 : Opinion Issues13-17§ 13:4.1 : General Terms13-18[A] : Organization and Authorization13-18[B] : Due Execution and Delivery13-19[C] : Valid, Binding, and Enforceable13-19[D] : Noncontravention of Other Agreements13-20[E] : Noncontravention of Laws13-20§ 13:4.2 : Collateral Security Terms13-20[A] : Valid, Binding, Enforceable Liens13-21[B] : Perfection13-21[C] : Priority13-23§ 13:4.3 : Assumptions and Reliance13-24[A] : Genuineness13-24[B] : Due Execution by Others13-24[C] : Certificates of Officers13-24[D] : Other Opinions13-24§ 13:4.4 : Exceptions13-25[A] : As to Enforceability13-25[B] : As to Priority13-26§ 13:5 : U.C.C. Filing Issues13-28§ 13:5.1 : Used Equipment; Specially Acquired Inventory13-28§ 13:5.2 : Computer Searches13-28§ 13:5.3 : Bankrupt Companies13-29§ 13:5.4 : General Search and Filing Issues13-30§ 13:6 : Disbursement and Use of Loan Proceeds13-33§ 13:6.1 : Tying in to Loan Documents13-33§ 13:6.2 : Use of Proceeds13-34§ 13:6.3 : Timing Issues13-34[A] : Taking of Collateral and Perfection13-34[B] : Acquired Entities13-35[C] : Release of Liens13-35§ 13:7 : Commitment Letters13-35§ 13:7.1 : Compensation13-37§ 13:7.2 : Conditions13-39[A] : SunGard Provisions13-39[B] : Modifications to SunGard and Xerox Provisions13-42§ 13:7.3 : Syndication13-44§ 13:8 : Regulation U13-45§ 13:8.1 : Substantive Requirement13-46[A] : Purpose Credit13-46[B] : Direct or Indirect Security13-46[C] : Maximum Loan Value13-47§ 13:8.2 : Reporting Requirement13-48[A] : Regulation U Forms13-48[B] : Revolving Credit Facilities13-49[C] : Annual Reporting for Non-Bank Lenders13-49§ 13:8.3 : Consequences of Non-Compliance with Regulation U13-49§ 13:9 : Documentation13-50Appendix 13A : Indicative Terms: Revolving Credit FacilityApp. 13A-1Appendix 13B : Commitment LetterApp. 13B-1Appendix 13C : Commercial Finance Association: Letter of IndemnityApp. 13C-1Appendix 13D : Landlord’s Waiver and ConsentApp. 13D-1Appendix 13E : Closing MemorandumApp. 13E-1
Lender Liability; And Appendix 14A: Term Sheet
§ 14:1 : Introduction14-1§ 14:2 : Contract Liability14-5§ 14:2.1 : Oral Promises14-6§ 14:2.2 : Failure of a Condition14-9§ 14:2.3 : Good Faith14-12§ 14:2.4 : Commercial Reasonableness14-18§ 14:3 : Tort Liability14-22§ 14:3.1 : Fiduciary Duty and Control14-22§ 14:3.2 : Improvident Lending/Aiding and Abetting14-25§ 14:4 : Statutory Liability14-27§ 14:4.1 : Environmental Laws14-27§ 14:4.2 : Securities Laws14-30§ 14:4.3 : Federal Tax Laws14-32§ 14:4.4 : RICO14-33Appendix 14A : Term SheetApp. 14A-1
Overview of Revised Article 9; And Appendix 15A: Revised Article 9 Security Agreement
§ 15:1 : Introduction15-3§ 15:1.1 : Status15-4§ 15:1.2 : Purpose of Revisions15-6§ 15:1.3 : Consumer Transactions15-6§ 15:2 : Scope of Revised Article 915-7§ 15:2.1 : Accounts15-7§ 15:2.2 : Payment Intangibles15-8§ 15:2.3 : Promissory Notes15-8§ 15:2.4 : Chattel Paper15-9§ 15:2.5 : Electronic Chattel Paper15-9§ 15:2.6 : Investment Property15-10§ 15:2.7 : Deposit Accounts15-10§ 15:2.8 : Health-Care-Insurance Receivables15-10§ 15:2.9 : Commercial Tort Claims15-11§ 15:2.10 : Software Versus Goods15-12§ 15:2.11 : Consignments15-12[A] : What Constitutes a Consignment Under Article 9?15-13[A][1] : Delivery for Purpose of Sale15-14[A][2] : The Merchant15-15[A][3] : Excluded Transactions15-16[B] : Perfection and Priority Rules for Consignments15-16[C] : Practical Considerations Regarding Consignment Transactions15-17§ 15:2.12 : Promissory Notes Secured by Real Estate15-18§ 15:2.13 : Agricultural Liens15-18§ 15:2.14 : Letter-of-Credit Rights15-19§ 15:2.15 : Supporting Obligations15-19§ 15:2.16 : Good Faith15-20§ 15:2.17 : Adaptation to Electronic Contracting15-20§ 15:2.18 : Federal Preemption15-21§ 15:2.19 : Exclusions15-21§ 15:2.20 : “Debtor” Versus “Obligor”15-22§ 15:3 : Creation of Security Interests15-23§ 15:3.1 : The Security Agreement15-23§ 15:3.2 : Description of Collateral15-24§ 15:3.3 : Rights in or Power to Transfer Rights to Collateral15-24§ 15:3.4 : Assignment of Rights to Payment15-27§ 15:3.5 : Assignment of Other General Intangibles15-27§ 15:3.6 : New Debtor15-28§ 15:4 : Perfection of Security Interests15-28§ 15:4.1 : Automatic Perfection15-28§ 15:4.2 : Perfection in Supporting Obligations15-28§ 15:4.3 : Perfection by Filing15-29[A] : Kinds of Collateral Subject to Perfection by Filing15-29[B] : Location of the Debtor15-30[C] : The Debtor’s Name15-31[D] : Indication of the Collateral15-34[E] : The Debtor’s Signature15-34[F] : Effectiveness As to New Debtor15-36[G] : Rejection or Incorrect Indexing by Filing Officer15-38[H] : Minor Errors15-39[I] : Multiple Secured Parties15-39[J] : Termination Statements15-40[K] : Bogus Filings15-40[L] : Transition from Former Article 9 to Revised Article 915-41§ 15:4.4 : Perfection by Control15-42[A] : Investment Property15-42[B] : Deposit Accounts15-43[C] : Electronic Chattel Paper15-43[D] : Letter-of-Credit Rights15-43§ 15:4.5 : Perfection by Possession15-44[A] : Instruments15-44[B] : Money15-44[C] : Tangible Chattel Paper15-44[D] : Certificated Securities15-44[E] : Goods and Negotiable Documents15-45[F] : Collateral in the Hands of Third Parties15-45[G] : Governing Law15-45§ 15:4.6 : Perfection in Proceeds15-46[A] : Revised Definition of Proceeds15-46[B] : Automatic Attachment and Perfection15-46[C] : Tracing15-47§ 15:5 : Priority of Security Interests15-47§ 15:5.1 : General Rule15-47§ 15:5.2 : Effect of Other U.C.C. Provisions15-47§ 15:5.3 : Filing Versus Control15-48§ 15:5.4 : Filing Versus Possession15-48§ 15:5.5 : Automatic Versus Other Methods of Perfection15-48§ 15:5.6 : Control Versus Control15-49§ 15:5.7 : Purchase Money Security Interests15-49[A] : Multiple Shipments15-50[B] : Multiple Purchase Money Security Interests15-50[C] : Software15-50[D] : Consignments15-50[E] : Proceeds15-51[F] : Dual Status Versus Transformation Rule15-51§ 15:5.8 : Lien Creditors15-51§ 15:6 : Transfers of Collateral15-52§ 15:6.1 : Rights of Transferees Generally15-52§ 15:6.2 : Transferees of Money and Funds from Deposit Accounts15-52§ 15:6.3 : Buyers in Ordinary Course of Business15-53§ 15:6.4 : Nonexclusive Licensees in Ordinary Course of Business15-53§ 15:6.5 : Purchasers of Chattel Paper15-54§ 15:6.6 : Purchasers of Promissory Notes15-54§ 15:6.7 : Purchasers of Property Subject to Articles 3 and 815-54§ 15:6.8 : Retention of Proceeds by Junior Secured Party15-54§ 15:7 : Enforcement of Security Interests15-55§ 15:7.1 : Rights of Guarantors15-55§ 15:7.2 : Collection Rights of Secured Party15-55§ 15:7.3 : Disposition of Collateral by Secured Party15-55[A] : Preparation of Collateral15-56[B] : Certain Unusually Low-Priced Dispositions15-56[C] : Warranties15-57[D] : Non-Cash Proceeds15-57[E] : Notice of Disposition15-57[F] : Acceptance of Collateral15-57[G] : Effect of Non-Compliance15-58§ 15:8 : Transition Rules15-59Appendix 15A : Revised Article 9 Security AgreementApp. 15A-1
Revised Article 9 Transition Rules
§ 16:1 : Introduction16-1§ 16:2 : The Rules16-3§ 16:2.1 : Perfection by Filing Under Former Article 916-3§ 16:2.2 : Perfection by Non-Filing Under Revised Article 916-6§ 16:2.3 : Perfection Outside of Former Article 916-7§ 16:2.4 : Perfection Under Former Article 9 but Revised Article 9 Inapplicable16-8§ 16:2.5 : Unperfected Under Former Article 9 but Perfected Under Revised Article 916-9§ 16:2.6 : Continuation Under Revised Article 9 of Filings Under Former Article 916-10§ 16:2.7 : Amendment Under Revised Article 9 of Filings Under Former Article 916-12§ 16:2.8 : Termination Under Revised Article 9 of Filings Under Former Article 916-12§ 16:2.9 : Terminology16-13§ 16:2.10 : Transition Issues When Searching16-14§ 16:2.11 : Earlier Attached, Unperfected Security Interests16-15§ 16:3 : How Priority Will Work Under the Transition Rules16-15§ 16:4 : What Secured Party Can Do to Anticipate Revised Article 916-16
Intellectual Property Financing; And Appendices 17A-17C
§ 17:1 : Introduction17-2§ 17:1.1 : Types of Intellectual Property17-3§ 17:1.2 : Increasing Importance of Intellectual Property As Collateral17-3§ 17:1.3 : Interplay of State, Federal and International Law17-4§ 17:2 : Legal Background17-4§ 17:2.1 : Perfection of Security Interests Under Article 917-4§ 17:2.2 : Impact of Bankruptcy on Security Interests17-5§ 17:2.3 : Federal and International Preemption of Article 917-6[A] : Article 9 Provisions Addressing Preemption17-6[B] : Case Law Addressing Preemption17-8[C] : Not All Intellectual Property Is Governed by Federal or International Law17-8§ 17:3 : Security Interests in Patents17-8§ 17:3.1 : Federal Law—The Patent Act of 195217-9§ 17:3.2 : Case Law on Perfection of Security Interests in Patents17-10§ 17:3.3 : Uncertainties and Practice17-11§ 17:4 : Security Interests in Trademarks17-16§ 17:4.1 : Federal Law—The Lanham Act17-16§ 17:4.2 : State Trademark Protection17-17§ 17:4.3 : Case Law on Perfection of Security Interests in Trademarks17-17§ 17:4.4 : Uncertainties and Practice17-18§ 17:5 : Security Interests in Copyrights17-19§ 17:5.1 : Federal Law—The Copyright Act of 197617-20§ 17:5.2 : Case Law on Perfection of Security Interests in Copyrights17-21§ 17:5.3 : Uncertainties and Practice17-24§ 17:5.4 : Source Code Escrows17-25§ 17:6 : Security Interests in Mask Works17-26§ 17:6.1 : Federal Law—The Semiconductor Act of 198417-26§ 17:6.2 : Uncertainties and Practice17-26§ 17:7 : Security Interests in Trade Secrets17-27§ 17:7.1 : Uncertainties and Practice17-27§ 17:8 : Security Interests in Rights in Proceeds of Intellectual Property17-28§ 17:8.1 : Royalties, Licenses, and Infringement Claims17-28§ 17:8.2 : Uncertainties and Practice17-30§ 17:9 : Security Interests in Goods That Incorporate Intellectual Property Rights17-33§ 17:9.1 : Trademark Branded Goods17-33§ 17:9.2 : Goods Manufactured Under Patents17-35§ 17:9.3 : Goods Whose Packaging or Labeling Includes Copyrights17-35§ 17:9.4 : Hybrid Goods with Embedded Computer Programs17-36§ 17:10 : Other Issues Affecting Intellectual Property Security Interests17-37§ 17:10.1 : Difficulty of Obtaining Current Accurate Searches17-37§ 17:10.2 : Delays in Recordation of Documents17-38§ 17:10.3 : Inability to Make Blanket Federal Filings17-38§ 17:10.4 : Multiplicity of Rights17-38§ 17:10.5 : After-Acquired Rights17-39§ 17:10.6 : Need for Federal Legislative Solutions17-39§ 17:10.7 : Proposals for an International Convention on Intellectual Property Financing17-40Appendix 17A : Patent Security AgreementApp. 17A-1Appendix 17B : Trademark Security AgreementApp. 17B-1Appendix 17C : Copyright Security AgreementApp. 17C-1
Debtor in Possession Financing; And Appendices 18A-18F
§ 18:1 : Introduction18-2§ 18:2 : Legal Framework for DIP Financing18-4§ 18:2.1 : Statutory Provisions18-5§ 18:2.2 : Case Law18-9§ 18:2.3 : Applicable Rules, Orders, Guidelines, and Procedures18-10§ 18:3 : Typical Financing Orders Approved by Courts18-12§ 18:4 : Key Issues in DIP Financings18-14§ 18:4.1 : Rollup and Cross-Collateralization18-14§ 18:4.2 : Use of Cash Collateral Versus DIP Financing18-17§ 18:4.3 : Joint Debtors and De Facto Substantive Consolidation18-18§ 18:4.4 : Myths and Realities of Priming18-20§ 18:4.5 : Section 506(c) Surcharge and Section 552(b) Equities of the Case Waivers18-23§ 18:4.6 : Obtaining Requisite Prebankruptcy Lender Consent to Do a DIP18-25§ 18:4.7 : Prefiling DIP Commitments18-26§ 18:4.8 : Carve-Outs for Professionals and Other Administrative Expenses18-27§ 18:4.9 : Avoiding Power Claims and Recoveries As DIP Collateral18-30§ 18:4.10 : Ratification of Prebankruptcy Liens or Claims (and Time Limits on Challenging Them)18-31§ 18:4.11 : Scope and Automatic Perfection of Postpetition Liens18-32§ 18:4.12 : Interim Versus Final Orders18-34§ 18:4.13 : Appropriate Findings of Fact in DIP Orders18-36§ 18:4.14 : Binding Future Parties18-36§ 18:4.15 : Milestones and Credit Bidding18-37§ 18:5 : How to Document a DIP Financing18-38Appendix 18A : Statutory Provisions Relevant to Use of Cash Collateral and DIP FinancingApp. 18A-1Appendix 18B : Decisions Regarding DIP FinancingApp. 18B-1Appendix 18C : Federal Rule of Bankruptcy Procedure 4001App. 18C-1Appendix 18D-1 : Sample Interim DIP Financing OrderApp. 18D-1-1Appendix 18D-2 : Sample Final DIP Financing OrderApp. 18D-2-1Appendix 18E : Milestones—363 SaleApp. 18E-1Appendix 18F : Milestones—Plan of ReorganizationApp. 18F-1
Perfecting Liens Under Select European Laws
§ 19:1 : Introduction19-4§ 19:2 : Granting Security in Italy19-4§ 19:2.1 : General19-4§ 19:2.2 : Type of Security—Overview19-5§ 19:2.3 : Type of Security—Analysis19-5[A] : Land and Buildings19-5[A][1] : Rankings and Registrations19-7[A][2] : Voluntary Mortgages19-7[A][3] : Judicial Mortgages19-8[A][4] : Legal Mortgages19-8[A][5] : Enforcement of the Mortgages19-8[A][6] : Reduction and Extinction of the Mortgages19-9[B] : Moveable Goods19-10[C] : Shares/Quotas19-10[C][1] : Pledge over Shares19-10[C][2] : Pledge over Quotas19-11§ 19:2.4 : Bank Accounts19-12§ 19:2.5 : Receivables19-13[A] : Assignment of Receivables19-13[B] : Pledge over Receivables19-15[C] : Differences Between the Pledge and the Assignment of Receivables19-15§ 19:2.6 : Moveable Goods Taken as a Group19-16§ 19:2.7 : Guarantees19-17[A] : Fideiussione19-17[B] : The First Demand (Independent) Guarantee19-18§ 19:2.8 : General Overview on Enforcement Proceedings19-19[A] : Enforcement Concerning Real Estate Property19-19[B] : Special Enforcement of Pledge19-19[C] : Enforcement Following Insolvency19-20[D] : Hardening Period and Claw-Back Action19-20[E] : Enforceability of Foreign Decision19-21§ 19:2.9 : General Issues19-21[A] : Corporate Interest19-21[B] : Financial Assistance19-22[C] : Priorities19-23[C][1] : Liens19-23[D] : Ranking19-25§ 19:3 : Creation of Security in England and Wales19-25§ 19:3.1 : Types of Security Interest—General19-25§ 19:3.2 : Mortgage19-26§ 19:3.3 : Charge19-27§ 19:3.4 : Priority19-29§ 19:3.5 : Registration19-29§ 19:3.6 : Debenture19-29§ 19:3.7 : Pensions Regulator19-30§ 19:3.8 : Possible Challenges to Security Interests19-31§ 19:3.9 : Financial Assistance19-31§ 19:4 : Taking Security in France19-32§ 19:4.1 : General19-32§ 19:4.2 : Reform of French Security Laws19-33§ 19:4.3 : Type of Security—Overview19-34§ 19:4.4 : Types of Security—Analysis19-35[A] : Land and Buildings19-35[A][1] : Freehold Mortgage (hypothèque conventionnelle)19-36[A][2] : Reloadable Mortgage (hypothèque rechargeable)19-37[A][3] : Freehold Lender’s Lien (privilège du prêteur de deniers)19-37[B] : Moveable Goods19-38[B][1] : Pledge over Tangible Movables19-38[B][2] : Pledge over Tools and Equipment (nantissement du materiel et de l’outillage)19-39[C] : Shares19-39[C][1] : Pledge over Financial Instruments Accounts19-40[C][2] : Pledge over Shares Other than Financial Instruments Accounts19-41[C][3] : Security over Shares Issued by a SARL19-41[C][4] : Security over the Shares Issued by a Société en Nom Collectif19-42[C][5] : Security over Shares Issued by Civil Companies19-42[C][6] : Advantages and Disadvantages19-42[D] : Bank Accounts and Cash Collateral19-43[D][1] : Pledge over Bank Account19-43[D][2] : Pledge of Cash Collateral19-44[E] : Receivables19-44[E][1] : Assignment of Receivables by Way of Security Known as Cession Dailly19-44[E][2] : Pledge over Receivables (Nantissement de Créances)19-45[E][3] : Delegation19-46[F] : Guarantees and Cautionnement19-46[F][1] : Four Categories of Guarantees19-46[F][2] : Cautionnement Personnel19-48[F][3] : Bank Guarantees19-49[G] : Intellectual Property19-49§ 19:4.5 : General Issues Relating to Taking Security and Guarantees in France19-50[A] : Banking Monopoly Rules19-50[B] : Corporate Interest19-50[C] : Financial Assistance19-50[D] : Shared Security19-51[E] : Transferability of Loan and Security19-51[F] : Priority Among Creditors19-52[G] : Insolvency19-52§ 19:5 : Granting Security in Germany19-54§ 19:5.1 : General19-54§ 19:5.2 : Types of Security—Overview19-55§ 19:5.3 : Types of Security—Analysis19-56[A] : Guarantees19-56[A][1] : Suretyship (Bürgschaft)19-56[A][2] : Guarantee (Garantie)19-57[B] : Security over Shares (Anteilsverpfändung)19-57[B][1] : Formalities and Costs19-58[B][2] : Enforcement19-58[C] : Security over Receivables19-58[C][1] : Assignment of Receivables19-58[C][1][a] : Blanket Assignments19-60[C][1][b] : Realization of Assigned Rights and Receivables19-61[C][2] : Pledge of Receivables19-61[D] : Security over Bank Accounts19-61[E] : Security over Land and Buildings19-62[E][1] : Land Charges (Grundschulden)19-62[E][2] : Mortgages (Hypotheken)19-63[E][3] : Registration Process19-64[E][4] : Costs Incurred upon the Creation of a Land Charge or Mortgage19-64[E][5] : Enforcement of a Land Charge or Mortgage19-65[E][5][a] : Enforcement Procedure19-65[E][5][b] : Costs of Enforcement19-66[E][5][c] : Suspension of Enforcement Proceedings19-66[F] : Security over Intellectual Property19-67[F][1] : Pledge of Right19-67[F][2] : Assignment for Security19-68[F][3] : Trademark Usufruct (Markennießbrauch)19-68[F][4] : Formalities19-69[G] : Security over Personal Property19-69[H] : Security over Aircraft and Ships19-71[H][1] : Security over Aircraft19-71[H][2] : Security over Ships19-72§ 19:5.4 : General Issues19-73[A] : Risk of “Over-collateralizing” (Übersicherung)19-73[B] : Corporate Benefit19-74[C] : Financial Assistance19-74[D] : Priority19-74[E] : Insolvency Law19-75
Index to Asset-Based Lending
”[Asset-Based Lending does] an excellent job of covering this topic in one book.” Corporate Counsel’s Commercial Law Adviser