Subordination is an agreement between the holders of mutually felt security interests, whereby the insured party, with the interest of superior security, subordinates its interest to the insured party who would otherwise obtain a worse priority position. The insured party is a lender, seller or other person for whom there is an interest in security. Priority is the term used to describe the highest rank of interest in security. The rank is awarded on the fiFO principle. first in the first extinction. (a) an interest in security security when it becomes enforceable against the debtor with respect to security, unless an agreement explicitly defers the time for seizure. The security agreement is the agreement between the insured party and the debtor, which establishes or provides for a security interest. A) the debtor has authenticated a security agreement that describes the security and, if the safety interest includes the wood to be cut, a description of the land in question; a security interest confers on the insured party the rights of inertragation in accordance with Section 9.315 and also participates in an obligation of proof for the guarantees. Conflicting security interests relate to the condition where two or more parties have perfected security interests in the same safeguards. (D) security accounts are deposit accounts, electronic chat paper, investment property, letters of credit or electronic documents, and the secured portion is controlled in accordance with clause 7.106, 9.104, 9.105, 9.106 or 9.107 of the debtor. (j) Where an insured party considers that a safety interest applies to minerals, including oil and gas, in their extraction in accordance with this chapter, and that the safety interest is also considered a guarantee for these minerals before they are mined, the prior and post-production safety interest is a single continuous and uninterrupted guarantee in the field. This subsection is a declaration of state law as it existed prior to the entry into force of this subsection and applies to minerals, including oil and gas, regardless of when the minerals were mined. (B) the guarantee is not a certified guarantee and is held by the insured party pursuant to Section 9.313 of Section 9.313, in accordance with the debtor`s security agreement; The security relates to the property on which the debtor pays an interest on the real estate value.
To be effective, a funding return must be filed with the appropriate reporting body to inform third parties. The appropriate place to file a funding return generally depends on the nature, use and location of the security provided as collateral. The place of submission is either: perfection occurs when the measures required under the UCC are taken by the insured party so that the security interest against creditors is valid. (2) The person is generally required to meet the other person`s obligations, including the obligation guaranteed by the guarantee contract, to acquire or acquire or acquire all the assets of the other person or, for the most part, of all the assets of the other person. (e) When a new debtor is bound as a debtor by a security contract entered into by another person: the single code of commerce follows the “communication” approach in which an abbreviated notification is submitted to the appropriate registrar, indicating that a debtor and an insured party intend to proceed with a secure transaction with specific security. The security agreement itself can even be executed at a later date. The code came into effect at midnight on June 30, 1966 and applies to transactions made after that date and to events that occurred after that date.