Common use of Uniform Commercial Code and PPSA Clause in Contracts

Uniform Commercial Code and PPSA. As used herein, the following terms are defined in accordance with the UCC in effect in the State of New York (and with respect to any Canadian Credit Party, such definition or correlative terms (if existing) under the PPSA shall be defined in accordance with the PPSA) from time to time: "Chattel Paper," "Tangible Chattel Paper," "Electronic Chattel Paper," "Supporting Obligations," "Commercial Tort Claims", "Letter of Credit Rights," "Contract," "control," "Deposit Account" (which shall specifically include any Account with a deposit function), "Securities Account," "Commodities Account", "Document" ("document of title" as defined in the PPSA), "Equipment," "General Intangibles ("intangibles" as defined in the PPSA)," "Investment Property," "Fixture," "Proceeds," "Location" and "Instrument."