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.
Documenting and Perfecting Security Interests in Collateral
Training courses associates and partners love and law firms need.
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
Class Content Overview
Course Details
2 CLE Credits is available for each course.
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.
Instructors Who Practice What They Teach
Our vetted instructors are global practitioners with outstanding professional and educational qualifications and demonstrated achievement in their fields. All have 10+ years Big Law experience.
In addition to their accomplishments as practitioners, our instructors are also passionate about teaching. We carefully interview instructor candidates to assess personality, domain expertise and effectiveness in the classroom. Our instructors must maintain a 4.5 out of 5 rating from students.
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