Secured Financing of Inventory: Revolving Credit, UCC Perfection, Proceeds, Competing Liens
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will enable finance counsel to structure a revolving credit financing where inventory is the collateral. The panel discussion will include attachment and perfection under the UCC, ensuring a continuing interest in proceeds upon sale, and how best to establish priority over competing security interests.
- UCC treatment of inventory and other goods
- Documenting a revolving line of credit secured by inventory or other goods
- Loan agreement advance and repayment provisions
- Security agreement
- UCC financing statement
- UCC perfection and priority: searching and filing, possession or other methods
- Maintaining a security interest in proceeds
- Competing liens
- Consigned inventory (both to and from the borrower)
- Landlord’s liens
- Warehouseman's liens
- Processor's liens
The panel will review these and other critical issues:
- What are the crucial components of a revolving line of credit when financing inventory?
- How is a UCC security interest perfected in inventory and in proceeds after a sale?
- What steps should counsel take to ensure priority over PMSI and other competing liens?
Anthony C. Cianciotti
Mr. Cianciotti represents banks and other financial institutions in single-lender and syndicated commercial debt... | Read More
Mr. Cianciotti represents banks and other financial institutions in single-lender and syndicated commercial debt financing, including revolving and term asset-based credit facilities. His representation frequently includes advising clients and structuring credit agreements to allow for the financing of inventory manufactured outside the United States during the time period that the inventory is in-transit from the foreign location to the United States. His specific industry experience includes, among other areas, manufacturing, distribution, retail, industrial equipment, information technology and records management.Close
Edwin E. Smith
Morgan, Lewis & Bockius
Mr. Smith concentrates his practice in commercial law, debt financings, structured financings, workouts, bankruptcies,... | Read More
Mr. Smith concentrates his practice in commercial law, debt financings, structured financings, workouts, bankruptcies, and international transactions. He is particularly knowledgeable on commercial law and insolvency matters, both domestic and cross-border. His representations have included those in major bankruptcies including Lehman and the City of Detroit. Mr. Smith often advises financial institutions on documentation and risk management issues.Close
Steven O. Weise
Mr. Weise practices in all areas of commercial law and has extensive experience in financing, especially in those... | Read More
Mr. Weise practices in all areas of commercial law and has extensive experience in financing, especially in those secured by personal property, including structured financing. He is regarded as one of the foremost authorities on Article 9 of the UCC. He is a member of the Permanent Editorial Board for the UCC and a member of the American Law Institute’s UCC Article 9 Drafting Committee. Mr. Weise is also the past chair of the American Bar Association’s Business Law Section Legal Opinions Committee.Close