Blanket or “all-assets” security interests are among the most common, if not the most common, type of lien required of borrowers by secured lenders in commercial transactions
Collateral Descriptions and Blanket Liens
Describing the collateral for an all-assets lien intuitively might seem easy. However, getting collateral descriptions correct under the rules of Article 9 of the Uniform Commercial Code (UCC) has challenged secured lenders for decades, and all-assets liens are no exception. A look at two recent cases.
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