Parties, security rights, secured obligations and assets covered

Risk is reduced because credit secured by assets gives creditors access to the assets as another source of payment in the event of non payment of the secured obligation.

It may be that, as between the grantor and the secured creditor, the secured creditor has agreed to treat the proceeds as encumbered assets.

The law should apply to all parties and types of security rights, secured obligations and encumbered assets.

In other States, term loans secured by movables other assets, such as equipment and even intellectual property, are common.

The law should provide that the security agreement must, at a minimum, identify the secured creditor and the grantor, and reasonably describe the secured obligation and the assets to be encumbered.

However, in developing its secured transactions law, a State should take account of the increasing importance and economic value of intellectual property assets to companies seeking to obtain low cost secured credit.

The law should provide that the delivery of possession of the assets to be encumbered is to the secured creditor or a third person (other than the grantor or an agent or employee of the grantor) that holds the assets on behalf of the secured creditor.

However a secured creditor may take possession of tangible encumbered assets without the consent of the person in possession of them only in accordance with the law of the State in which those assets are located at the time the secured creditor takes possession of them.

Breach secured.

(c) Secured obligation means the obligation secured by a security right.

on Secured Transactions

Assets, in particular encumbered assets, may need to be valued in the course of proceedings to determine the value of the secured claim (and any related unsecured claim) and issues of protection related to any diminution in that value.

Central to the notion of protecting the value of encumbered assets is the mechanism for determining the value of those assets to enable the court to consider whether and how much to provide to secured creditors as relief against the diminution of the value of encumbered assets during the proceedings.

Valuation of secured claims

Protection of secured creditors

Crash site two secured.

Crash site two secured.

The purpose of the scope provisions of the law is to specify the parties, the security rights, the secured obligations and the assets to which the law applies.

Where a direct inconsistency exists, the State's secured transactions law should expressly confirm that the other law and international obligations govern those assets to the extent of that inconsistency

(c) Transfer of control to the secured creditor if the encumbered assets are certain intangible obligations, other than receivables, owing to the grantor by a third person a bank account

The key to the effectiveness of secured credit is that it allows businesses to use the value inherent in their assets as a means of reducing risk for the creditor.

Where the lender requires security, it can be provided on unencumbered assets or as a junior or lower security interest on already encumbered assets where the value of the encumbered asset is sufficiently in excess of the amount of the pre existing secured obligation.

Yet another concern is that in some cases secured creditors may take most or all of a person's assets in the case of insolvency and leave little for unsecured creditors, some of whom are not in a position to bargain for a security right in those assets.

Draft legislative guide on secured transactions

Current connection is secured with SSL.

These conditions are indeed being secured.

a Activities with secured financing only.

Unfortunately, agreement was not easily secured.

(50) The insolvency law should specify that, upon application to the court, a secured creditor should be entitled to protection of the value of the assets in which it has a security interest.

Security rights in such assets are not excluded but, in the case of any inconsistency between such a special law and secured transactions law, the special law (e.g. the special registration system) prevails.

Current connection is not secured with SSL.

36. Full national food safety was secured.

Assets

This valuation technique is less applicable to protection of either the value of the encumbered asset or the secured claim than it is to disposal of assets of the estate by the insolvency representative.

Statement IX. Capital assets fund statement of assets,

(f) The possible repercussions for secured transactions and secured creditors in the way in which corporate groups are treated in insolvency.

Such a mandate has not yet been secured.

The party secured no seats in this stage.

He reached over and secured the whiskey bottle.

(c ) Colloquium on Reform of Secured transactions Law the draft UNCITRAL Legislative Guide on Secured Transactions (Clermont Ferrand, France 23 April 2004)

(b) Provide a temporal event for ordering priority among secured creditors and between a secured creditor and other classes of competing claimants.

A second approach to protecting the interests of secured creditors is to protect the value of the secured portion of the claim.

Resource assets account for roughly 50 of total government assets, with operating assets amounting to 39 and administrative (or non operating) assets comprising another 6 .

Another concern is the potential ability of a secured creditor to exercise influence over a business, to the extent that the creditor may seize, or threaten seizure of, the encumbered assets of that business upon default.