This document is the "National UCC Financing Statement Addendum," and it is an American Lawyer Media form. It accompanies the UCC Financing Statement.
A Los Angeles California UCC Financing Statement Addendum is a legal document used in commercial transactions to provide additional information or amendments to a previously filed UCC financing statement. It serves as an attachment to the original UCC filing, providing clarity and specificity to the secured party's interest in the collateral. Keywords: Los Angeles California, UCC Financing Statement Addendum, legal document, commercial transactions, additional information, amendments, UCC filing, clarity, secured party, collateral. Types of Los Angeles California UCC Financing Statement Addendum: 1. Amendment Addendum: This type of addendum is used to modify or update the original UCC financing statement. It can include changes to debtor information, collateral descriptions, or other terms that need to be revised. 2. Termination Addendum: When a secured party wants to release their interest in the collateral or terminate the UCC filing, this addendum is used. It ensures that all parties involved are aware of the termination and that the collateral is no longer encumbered. 3. Assignment Addendum: In cases where the secured party wants to transfer their rights to another party, an assignment addendum is used. It outlines the details of the assignment, including the new secured party's information and any changes to the collateral or debtor details. 4. Continuation Addendum: This addendum is filed when the original UCC financing statement is nearing its expiration date. It extends the duration of the filing, allowing the secured party to maintain their priority status for a longer period. 5. Partial Release Addendum: If the secured party wishes to release their interest in only a portion of the collateral, a partial release addendum is used. It specifies the details of the released collateral while keeping the UCC filing effective for other remaining collateral. 6. Collateral Description Addendum: This addendum is used to provide a more detailed and specific description of the collateral being secured. It helps to avoid any ambiguity or confusion regarding the assets or property covered by the UCC filing. In conclusion, a Los Angeles California UCC Financing Statement Addendum is a crucial document in commercial transactions, allowing parties to amend or supplement the original UCC filing. The various types of addendums ensure accuracy, clarity, and compliance throughout the secured party's interest in the collateral. Keywords: Los Angeles California, UCC Financing Statement Addendum, commercial transactions, amendment addendum, termination addendum, assignment addendum, continuation addendum, partial release addendum, collateral description addendum.
