Cook Illinois Sample Letter for UCC-3 Termination Statement

• Category: Letters - Legal - UCC
• State: Multi-State
• County: Cook
• Control #: US-0186LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. Cook Illinois is a company that provides various transportation services, including school bus transportation, charter buses, and commuter shuttles. They are known for their reliable and safe transportation solutions throughout Illinois. A UCC-3 Termination Statement is an important document that is used to officially terminate a UCC filing. It is necessary when a secured party wants to release their interest in collateral that was previously pledged under a UCC-1 Financing Statement. The termination statement serves as proof that the secured party no longer has any claim or interest in the collateral. Cook Illinois offers several types of sample letters for UCC-3 Termination Statements, catering to different scenarios and requirements. Some key types include: 1. General UCC-3 Termination Statement: This sample letter is used when a secured party wants to terminate their interest in collateral and release the associated UCC filing. It includes essential details such as the debtor's name, secured party's information, description of the terminated collateral, and UCC filing number. 2. Partial UCC-3 Termination Statement: In certain cases, a secured party may want to release their interest in only a portion of the collateral while retaining a claim on the rest. This sample letter outlines the specifics of the released collateral, ensuring clarity and legal compliance. 3. Amendment and Termination UCC-3 Statement: Sometimes, changes need to be made to an existing UCC filing before termination. This sample letter covers both the amendment to the original UCC filing and the subsequent termination of the affected collateral. 4. UCC-3 Termination Statement with Satisfaction: When a debt has been satisfied or paid off in full, this sample letter is used to terminate the UCC filing and release the lien on the collateral. It includes details about the original debt, payment confirmation, and the secured party's acknowledgement of satisfaction. 5. UCC-3 Termination Statement without Confirmation of Satisfaction: In cases where a debt has been transferred or refinanced, this sample letter is utilized to terminate the UCC filing without explicitly confirming the satisfaction of the underlying debt. It acknowledges the secured party's release of interest without providing information about the new arrangement. These Cook Illinois sample letters for UCC-3 Termination Statements simplify the process and ensure compliance with legal requirements. They provide a comprehensive template that can be customized as per specific situations, saving time and effort while ensuring accuracy and proper documentation.

Cook Illinois is a company that provides various transportation services, including school bus transportation, charter buses, and commuter shuttles. They are known for their reliable and safe transportation solutions throughout Illinois. A UCC-3 Termination Statement is an important document that is used to officially terminate a UCC filing. It is necessary when a secured party wants to release their interest in collateral that was previously pledged under a UCC-1 Financing Statement. The termination statement serves as proof that the secured party no longer has any claim or interest in the collateral. Cook Illinois offers several types of sample letters for UCC-3 Termination Statements, catering to different scenarios and requirements. Some key types include: 1. General UCC-3 Termination Statement: This sample letter is used when a secured party wants to terminate their interest in collateral and release the associated UCC filing. It includes essential details such as the debtor's name, secured party's information, description of the terminated collateral, and UCC filing number. 2. Partial UCC-3 Termination Statement: In certain cases, a secured party may want to release their interest in only a portion of the collateral while retaining a claim on the rest. This sample letter outlines the specifics of the released collateral, ensuring clarity and legal compliance. 3. Amendment and Termination UCC-3 Statement: Sometimes, changes need to be made to an existing UCC filing before termination. This sample letter covers both the amendment to the original UCC filing and the subsequent termination of the affected collateral. 4. UCC-3 Termination Statement with Satisfaction: When a debt has been satisfied or paid off in full, this sample letter is used to terminate the UCC filing and release the lien on the collateral. It includes details about the original debt, payment confirmation, and the secured party's acknowledgement of satisfaction. 5. UCC-3 Termination Statement without Confirmation of Satisfaction: In cases where a debt has been transferred or refinanced, this sample letter is utilized to terminate the UCC filing without explicitly confirming the satisfaction of the underlying debt. It acknowledges the secured party's release of interest without providing information about the new arrangement. These Cook Illinois sample letters for UCC-3 Termination Statements simplify the process and ensure compliance with legal requirements. They provide a comprehensive template that can be customized as per specific situations, saving time and effort while ensuring accuracy and proper documentation.