UCC Termination Clause Samples
The UCC Termination clause outlines the conditions and procedures under which a party may terminate a contract governed by the Uniform Commercial Code (UCC). Typically, this clause specifies the events that constitute grounds for termination, such as breach of contract, failure to deliver goods, or insolvency, and details the required notice period and method for effecting termination. By clearly defining how and when a contract can be ended, the clause provides both parties with a predictable framework for ending their obligations, thereby reducing uncertainty and mitigating potential disputes.
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UCC Termination. Immediately upon Closing, the Seller shall file the UCC 3 amendment statement with the Secretary of State of the State of Delaware releasing the liens held in the Acquired Assets by Silicon Valley bank.
UCC Termination. The Company shall have delivered to Buyer a UCC termination statement terminating State Bank & Trust’s security interest in the fixtures described in the UCC Financing Statement filed on September 29, 2003 by State Bank & Trust, West Fargo Office, ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇.
UCC Termination. Borrower shall cause Synovus Bank to terminate of record in the Florida Secured Transaction Registry that certain Uniform Commercial Code – Form UCC-1 – Financing Statement bearing Initial Filing #202001663984 filed on May 19, 2020 naming M-TRON INDUSTRIES, INC. and PIEZO TECHNOLOGY, INC., as debtors, and SYNOVUS BANK, as secured party. Said UCC-3 termination must be filed on or before 30 days of the date of this Agreement. Failure to provide same within the 30-day period shall be an Event of Default hereunder. O3721488.v4
UCC Termination. Termination statements, executed by Zero --------------- Stage Capital VI Limited Partnership, terminating its financing statements as follows: #01-0190 filed 01/11/2001 in Allegheny County and #33490748 filed 01/11/2001 at the Secretary of State for Pennsylvania.
UCC Termination. Seller shall have delivered to Purchaser (or shall deliver at the applicable Closing following application of proceeds at closing) a fully executed UCC-3 Financing Statement terminating any UCC security interest encumbering the Tower or Related Improvement related to such Tower Site.
UCC Termination. Within thirty (30) days after the Closing Date, Borrower shall have delivered to Lender evidence that Borrower has obtained and filed a UCC termination statement (executed by the appropriate secured party) to eliminate the fixture filing currently recorded in favor of PNC Bank in the Hennepin County, MN records against the One Corporate Center I and One Corporate Center II Properties.
UCC Termination. The Holder agrees, promptly following the Closing Date, to file a UCC-3 Financing Statement Amendment in the appropriate jurisdictions to evidence the termination of the Holder’s security interest in any collateral pursuant to the Note.
UCC Termination. The secured party under that certain UCC-1 Financing Statements, UCC#0009197095 and UCC#0009197096 on file in the State of Virginia and UCC#0000000181061704 and UCC#0000000181061705 on file in the State of Maryland, in favor of Baylake Bank, shall have filed a UCC Termination Statement with respect thereto, and such security interest shall be terminated.
UCC Termination. The secured party under that certain UCC-1 Financing Statement, #0101160693, in favor of Union Bank of California, N.A., shall have filed a UCC Termination Statement with respect thereto, and such security interest shall be terminated.
UCC Termination. Seller shall have delivered to Buyer Uniform Commercial Code lien terminations signifying the release of any Liens on the Assets.