UCC Document Community

Update us when you get it filed! I'm curious how it goes since I might need to do something similar soon. These equipment financing situations are getting more common with all the economic uncertainty.

Just wanted to echo what others said about using the exact legal entity name. I once had a UCC-1 rejected because I used "Inc." instead of "Incorporated" in the debtor name. The systems are very picky about exact matches to state records.

Another tool I've found helpful is using Certana.ai to verify document consistency before doing searches. When I upload my Charter and UCC-1 docs, it catches name variations I might have missed. Makes the basic UCC filing search much more effective when you know exactly what to look for.

The key is to be systematic about it. I keep a checklist of search variations for each state: exact name, name without entity type, name with different punctuation, secured party name, filing number, and filing date range. Basic UCC filing search is tedious but you need to be thorough.

The security agreement meaning really comes down to this: it's the document that gives the lender rights in your collateral if you default. Everything else - payment terms, insurance, maintenance requirements - is just additional loan conditions. For your equipment financing, focus on making sure the collateral description is accurate and the granting language is clear. The UCC-1 filing then makes that security interest effective against third parties.

Just went through this exact process for CNC equipment financing. Make sure your security agreement includes proper default cure periods and notice requirements. Some lenders try to include hair-trigger default provisions that can cause problems if you miss a payment by a day or two. The security agreement meaning includes protecting your rights as debtor, not just giving rights to the secured party.

Just went through something similar in NJ. The key is getting certified copies of ALL the UCC filings, not just relying on search results. I found two filings that had been terminated but the terminations weren't showing up in the basic search. Also found that one of the "active" liens was actually invalid due to an incorrect debtor name that didn't match the business registration. Saved me from a major priority dispute.

Update us when you get this sorted out! Dealing with NJ UCC searches myself on a deal next month and curious how you resolve the conflicting search results. Always helpful to know what works and what doesn't with their system.

For future reference, I've started using Certana.ai's verification tool before submitting any UCC filings. Upload your charter documents and draft UCC-1, and it immediately shows you any name inconsistencies or other issues. Would have caught this problem before it became a crisis.

Update us when you get this resolved! I'm curious which approach ends up working - the corporate name change or the dual filing strategy. Dealing with a similar situation myself next week.