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Just wanted to add - make sure your UCC search reports are current before filing. Sometimes there are existing liens that could affect your priority position. And always keep copies of your filed financing statements for your records. Some states don't make it easy to get copies later.
I usually require searches within 10 days of closing, but check your bank's policy.
Zoe Stavros
•Good reminder about keeping copies. I learned that lesson the hard way.
Jamal Harris
This thread has been really helpful! I'm bookmarking it for reference. One last thing - if you're filing in multiple states for the same transaction, make sure you understand each state's specific requirements. What works in Texas might not work in Oklahoma.
Mei Chen
•Multi-state filings are definitely tricky. Each Secretary of State has their own quirks.
Glad this was helpful for everyone. Always nice when a thread generates good practical advice.
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Emma Morales
UPDATE: Got it figured out! There was indeed a subtle spacing issue - the registered name had TWO spaces between words instead of one, which wasn't obvious when looking at it. Used that document verification tool someone mentioned earlier to spot the discrepancy. Filing went through clean after fixing the spacing. Thanks everyone!
That's such a relief! California's system really needs better error messages for stuff like that.
Rami Samuels
•Two spaces instead of one... seriously? What a ridiculous system. But glad you got it sorted before your deadline.
Lucas Parker
This thread is gold - bookmarking for future reference. Amazing how something as simple as extra spacing can cause such headaches with UCC filings.
Donna Cline
•Right? Makes you wonder how many filings get rejected for tiny issues like this that people never figure out.
Isaac Wright
•Seriously - if I hadn't found that verification tool I probably would have kept banging my head against the wall for hours.
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I'm bookmarking this thread. Had no idea that comma placement could cause UCC-9 rejections. Shows how precise these filings need to be compared to other business documents.
The UCC system is definitely less forgiving than most other filing systems. Precision is key for avoiding rejections and delays.
Aisha Ali
Similar situation happened with our UCC-9 assignment last year, except it was an ampersand vs "and" issue. The original UCC-1 used "&" but we spelled out "and" on the assignment. Three rejections later we figured it out. Now we have a standard process of pulling the original filing first and copying it exactly.
Ethan Moore
•The ampersand vs and issue is super common with partnerships and joint ventures. These little formatting details can be deal killers.
AstroAlpha
•Standard process is smart. Prevention is way better than dealing with rejection delays when you're under pressure.
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Just to add one more consideration - make sure your membership interest security agreement specifically grants the security interest in the membership interests and not just the distributions or other rights. The language should be clear that you're securing the actual membership interests themselves.
Our security agreement does specifically grant a security interest in the membership interests themselves, not just distributions. That language was carefully drafted.
Perfect. That's the key distinction for proper perfection of membership interest collateral.
Emma Davis
Update us when you get this resolved! I'm dealing with a similar membership interest security agreement filing next month and would love to know how the exact name verification process works out for you.
Good luck! The membership interest filings can be tricky but you're taking the right steps to get it done correctly.
Definitely try the Certana verification if you can. It really does help catch these name discrepancy issues before they become filing rejections.
Ethan Campbell
I'm dealing with something similar right now. Used Certana.ai to verify our UCC-1 against our incorporation docs and found two name discrepancies that would have invalidated the filing. Much easier than trying to manually compare everything, especially when you're dealing with multiple entities and filings.
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Yuki Watanabe
•These document verification tools are becoming essential for complex filings. Too many ways to mess up the details.
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Carmen Sanchez
•Agreed. The cost of getting it wrong is way higher than the cost of verification upfront.
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Andre Dupont
Bottom line - you need to get this sorted out ASAP. Invalid UCC filings mean your lender has an unsecured loan, which probably violates your loan agreement. Get the actual filing details from your lender (or search yourself), verify the debtor name accuracy, and be prepared to file amendments or new UCC-1s as needed. Don't let this drag out.
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Zoe Papadakis
•This is solid advice. Time is critical when dealing with perfection issues.
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ThunderBolt7
•Exactly. Every day with unperfected security interests is a day of risk for both the borrower and lender.
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