Chattel Paper and Instruments. The perfection of the security interest granted in Section 2.01 above in Chattel Paper (whether Tangible or Electronic) and Instruments, respectively, will be effected solely by filing an appropriate financing statement under the applicable UCC so long as, with respect to such Chattel Paper or Instruments, the face amount thereof does not exceed an aggregate of $25,000.
Appears in 2 contracts
Sources: Security Agreement (Black Elk Energy Finance Corp.), Security Agreement (Black Elk Energy Finance Corp.)