Clint M. Hanni April 2018 Security Agreements – For Debtors Let’s say that you have approached a bank about getting a loan for working capital purposes. You have inventory and accounts receivable to offer as collateral to secure the loan. After agreeing to basic terms, the bank sends you a loan agreement, a promissory note… Read more »
Clint M. Hanni March 2018 Security Agreements – For Lenders Security agreements lie at the heart of loan transactions. If you are a lender, the security agreement is the document that insures you will be repaid. Security agreements are most often stand-alone documents, but they don’t have to be. Language creating a security interest can… Read more »
March 2018 What is a security interest? At the heart of UCC Article 9 is the concept of a “security interest.” The UCC itself defines a security interest as “an interest in personal property or fixtures which secures payment or performance of an obligation.” The definition goes on for another eight lines, but the gist… Read more »
Clint M. Hanni March 2018 Introduction If you’re a business owner, you’ve been using the Uniform Commercial Code (UCC) even if you’ve never heard of it. The UCC is a model body of law adopted by all 50 states and US territories in a generally uniform manner that governs commercial business transactions, although there are… Read more »
Steven Bergman November 2017 This is another in a series of posts about negotiating, executing, performing, and enforcing contracts, whether commercial or individual. This installment focuses on choice of law issues and how choice of law can affect your right to pursue a remedy on a contract default or the defenses available to you or… Read more »
Steven Bergman October 2017 Business and individuals enter into contracts on a regular basis. When entering into a contract, it is important to make sure you know and understand every term in the contract, not just the major provisions, such as the parties, the price, the terms and conditions of performance, and the time and… Read more »
Someone is trying to hack your site. In fact, if your site is built on WordPress, which more than 75 million websites are, there are bots constantly trying to gain access to your site – perhaps even as you read this post. This isn’t because WordPress has security flaws. It is because most sites are… Read more »
Clint M. Hanni April 2017 It’s a great relief for the borrower when the documents are signed and the money is wired. What happens after the loan has closed is critical to a successful loan. 1. Post-closing matters. The lender may have a laundry list of items for the borrower to provide after the closing…. Read more »
Clint M. Hanni April 2017 Loan transactions are document intensive. When the agreements have all been drafted and agreed, it’s time for the lender and borrower to sign the documents and fund the loan. Closings can be easy or hard. Here are some tips to make them as smooth as possible. 1. Authorizing resolutions. After… Read more »
Clint M. Hanni April 2017 The loan agreement isn’t the only document in a loan transaction. Other documents (sometimes dozens of them) can come into play. Here are a few to consider: 1. Security Agreement. If the loan will be secured by personal property, such as accounts, inventory, equipment or IP (patents, trademarks, copyrights), there… Read more »