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Documenting and Perfecting Security Interests in Collateral

Online Class material is 100% online, accessible by all standard web browsers. Use your desktop, laptop, tablet, or smartphone--your progress will by synced across all devices.
On-Demand The class is fully asynchronous. Do the work at your own pace, turn in your assignment when you're ready, and get instant feedback via model answers and video review sessions.
Interactive Learn with dynamic, interactive modules that keep you engaged in active learning using a variety of learning modes.
Experiential Includes practical assessments throughout the class, plus a capstone assignment where you apply your skills in the context of a real-world matter.

Class Content

Overview

This course will introduce students to the steps involved in documenting and perfecting a security interest in collateral that a borrower provides for a commercial loan. It begins with an overview of how a lender creates, attaches, and perfects a security interest in collateral. It then provides an in-depth explanation of how to accomplish these steps with different types of collateral, including tangible personal property, general intangibles, real property, and fixtures. It also explains how a lender may achieve priority over competing creditors that have a security interest in the same collateral. Finally, it covers how a lender may continue a previously perfected security interest (avoiding lapse) or release it. The course is designed to provide junior associates with a broad understanding of how to document and perfect security interests in the various types of collateral they may encounter in commercial loan transactions.

Objectives

Upon completion of this course, participants will be able to:

  • Explain the UCC rules and other state laws that govern securing and perfecting collateral by type
  • Understand how to create, attach, and perfect a lender’s security interest for each type of collateral
  • Draft and manage key documents required for securing a loan with each type of collateral
  • Review and complete various forms of creation and perfection documents 

Simulation Exercise

Students are presented with a lender that plans to make a working capital loan to a borrower that manufactures silicon chips. The borrower is a wholly-owned subsidiary of a parent corporation. Students are asked to (i) draft a pledge agreement reflecting the parent corporation’s pledge of its 100% ownership interest in the subsidiary as part of the collateral for the loan and (ii) draft a UCC-1 financing statement that the lender will file to perfect its security interest in the borrower’s silicon chip inventory.

CLE Credit

2 CLE Credits is available for each course.

Preview

The AltaClaro Difference

Effective Learning with ROI--Backed by Education Science

Step 1: Learn

Learn at your own pace, absorbing lessons in short, easily digested segments led by experienced practitioners.

Step 2: Do

Apply what you've learned to solve real-world client scenarios, using transaction documents derived from actual deals.

Step 3: Review

Deepen your learning in virtual review sessions with an experienced practitioner. Review model answers and ask questions.

Instructors Who Practice What They Teach

Success Stories

"I think this is a gamechanger for training. Associates can benefit from the guidance of real practitioners and learn in a low stakes environment."
Anjie Vichayanonda Associate, Haynes & Boone LLP
"As an experienced practitioner who has worked in both AmLaw 100 and public company, in-house environments, the training AltaClaro provided helped supplement my knowledge of corporate law."
Ryan Nayar Legal Counsel, Centrica

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Interested in this Class?

Our master classes are delivered in an experiential "bootcamp" framework. Students participate in small cohorts that go through the learning materials, assignments, and live review sessions together with experienced practitioner-instructors.

We serve law firms of all sizes, individual professionals, and groups of professionals (in-house departments, networks, and associations). Find out more about how we can help you.

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