Financing Statement In Lieu of Continuation form used in certain circumstances rather than filing a continuation of a Financing Statement with the South Carolina filing office.
North Charleston South Carolina UCC1 Financing Statement In Lieu of Continuation is a legal document that is used to maintain the effectiveness of a previously filed UCC1 Financing Statement. UCC1 stands for Uniform Commercial Code 1 and is a mandatory form that is utilized to provide notice of a secured party's interest in specific collateral. In North Charleston, South Carolina, UCC1 Financing Statements In Lieu of Continuation may differ based on the specific circumstances or requirements. Here are two examples: 1. UCC1 Financing Statement In Lieu of Continuation for ongoing financing: This type of statement is filed when the original UCC1 Financing Statement, which establishes a security interest in collateral, is about to expire. By submitting this continuation statement, the secured party notifies interested parties that their security interest is still enforceable and continues on the collateral for an extended period. 2. UCC1 Financing Statement In Lieu of Continuation for modified financing: This variation applies when any modification or alteration is made to an existing financing arrangement. If changes occur in the terms or collateral, a secured party can file this statement to notify other creditors and interested parties about the modification and protect their interest in the revised collateral. Keywords: North Charleston, South Carolina, UCC1 Financing Statement, In Lieu of Continuation, legal document, maintain effectiveness, previously filed, UCC1 Financing Statement, Uniform Commercial Code, secured party's interest, collateral, ongoing financing, expiration, continuation statement, enforceable, extended period, modified financing, alteration, existing financing arrangement, terms, changes, revised collateral, creditors.North Charleston South Carolina UCC1 Financing Statement In Lieu of Continuation is a legal document that is used to maintain the effectiveness of a previously filed UCC1 Financing Statement. UCC1 stands for Uniform Commercial Code 1 and is a mandatory form that is utilized to provide notice of a secured party's interest in specific collateral. In North Charleston, South Carolina, UCC1 Financing Statements In Lieu of Continuation may differ based on the specific circumstances or requirements. Here are two examples: 1. UCC1 Financing Statement In Lieu of Continuation for ongoing financing: This type of statement is filed when the original UCC1 Financing Statement, which establishes a security interest in collateral, is about to expire. By submitting this continuation statement, the secured party notifies interested parties that their security interest is still enforceable and continues on the collateral for an extended period. 2. UCC1 Financing Statement In Lieu of Continuation for modified financing: This variation applies when any modification or alteration is made to an existing financing arrangement. If changes occur in the terms or collateral, a secured party can file this statement to notify other creditors and interested parties about the modification and protect their interest in the revised collateral. Keywords: North Charleston, South Carolina, UCC1 Financing Statement, In Lieu of Continuation, legal document, maintain effectiveness, previously filed, UCC1 Financing Statement, Uniform Commercial Code, secured party's interest, collateral, ongoing financing, expiration, continuation statement, enforceable, extended period, modified financing, alteration, existing financing arrangement, terms, changes, revised collateral, creditors.
