Related Posts
How do you like your life post ACN?
Additional Posts in Corporate Transactional Law
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
How do you like your life post ACN?
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Download the Fishbowl app to unlock all discussions on Fishbowl.
Copy and paste embed code on your site

Scan your QR code to download
Fishbowl app on your mobile

Yep! UCC-3 amendment. If you go the route of filing a new UCC-1, you need to run searches first to make sure there aren’t any intervening liens, but a UCC-3 is more customary.
Better approach is to appoint a collateral agent to act for all senior noteholders, and for said collateral agent to be named as secured party. That way you avoid having multiple senior lenders named on the same UCC-1, as that raises questions on which secured party has authority to terminate when the time comes.
Interesting- thanks
This sounds right. Alternatively. You can do a UCC-3 termination then just have everyone together and file the new one immediately. Only do this if you know there isn’t filings subordinate to the original filing.
🫨