UCC Security Interests in Payment Intangibles: Intercompany Loans, Debt Obligations and “Promissory Notes”
|Date / Time:
One of the complexities of creating and perfecting liens in intangible property under the UCC is determining the “type” of such collateral under the classification scheme of Article 9. This is especially true of interests in payment intangibles—the rights to receive payments under a contractual obligation that do not otherwise constitute an “account, chattel paper or a promissory note” delineated in Article 9.
Many contractual payment obligations such as intercompany loans, loans called promissory notes, and loans evidenced by electronic records are frequently part of the collateral package in leveraged finance deals. In addition, rights under loans not evidenced by notes, are common in CLOs and participations.
There are specific considerations to create and perfect a security interest in payment intangibles. Counsel advising secured parties and debtors must understand howcontractual payment obligations are treated under the UCC to protect their clients’ interest.
Listen as our authoritative panel of finance practitioners discusses how to create and perfect security interests in debt obligations, intercompany loans/debt, loans called promissory notes, and other payment intangibles under the UCC.
- Article 9 definition of payment intangibles
- Specific types of payment intangibles (commercial loans, intercompany loans and loans called "promissory notes" but that are payment intangibles).
- Difference between a payment intangible, an account, chattel paper and true promissory notes
- Pitfalls facing secured parties with automatic perfection
The panel will review these and other key issues:
- What are the potential pitfalls for secured parties seeking perfection and priority of secured interests in payment intangibles?
- How can counsel determine whether a contractual payment obligation is a payment intangible not falling within any other U.C.C.-delineated category of intangible rights?
- What is the difference between a payment intangible, chattel paper and a true promissory note?
This program has been approved for 2.0 CPE hours through Strafford Publications. CPE Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit.
Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
To obtain CPE credit, attendees must participate in the live event, return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.
Strafford will mail a certificate of credit within approximately 2 weeks of receiving an attendee's completed Official Record of Attendance—provided all required conditions have been satisfied.
Handout materials and the phone number for live presentations are made available to you 1 day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.
If you order a recorded version of the webinar, CD's will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
Webcasts, audio conferences, and podcasts are presentations that you
attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.
versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back
at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|Licenses / Designations / Educational Credits:||CPE|
All US States: 2
All US States: 1.5
|About The Provider:
||Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting their website.
Strafford webinars and teleconferences offer an excellent opportunity to train your entire staff—with no lost travel time or expenses. They are extremely cost-effective—allowing an unlimited number of people at your location to listen from a single line at no additional charge.
Each live seminar features presentations by a panel of nationally recognized authorities, followed by an interactive Q&A session. Presentation materials can be viewed online or printed out. Audio can be accessed via the web or a telephone.
||Contact Us For More Information
||Share on Facebook
Share on Twitter
Share on Google+
FMLA Training &Certification Program
ADA Training &Certification Program
Texas All-Lines Adjuster Pre-Licensing ONLINE Course
Xactimate Training-Live Online Training
Surplus Lines Online Exam Prep Course
Associate in Premium Auditing (APA)
Associate in General Insurance (AINS)
Earn Your CFP
Cafeteria Plan Training &Certification Program
Business Writing for Results
Critical TeleSelling™ Skills Sales Training Seminar