array(1) { [0]=> array(4) { ["photo"]=> int(82859) ["name"]=> string(19) "Kenneth P. Weinberg" ["title"]=> string(7) "Partner" ["company"]=> string(6) "CM Law" } } article

Come gather ‘round, readers, wherever you roam, and admit that the Uniform Commercial Code (UCC) has grown. Older readers may remember the substantial revisions to Article 9 of the UCC that were promulgated as the 1998 Amendments and became effective... read more

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The recent deluge of state commercial financing disclosure laws designed to mimic consumer-style truth-in-lending statements raises interesting policy considerations as it relates to the inclusion or exclusion of equipment leasing and finance transactions.1 In particular, of all the relevant laws... read more

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It is fairly common in the equipment leasing and finance industry for financing statements to describe the equipment, inventory or other goods being leased or financed by referring to an unattached master lease, lease schedule or other document. Some of... read more

array(1) { [0]=> array(4) { ["photo"]=> int(82859) ["name"]=> string(19) "Kenneth P. Weinberg" ["title"]=> string(11) "shareholder" ["company"]=> string(11) "Rimon, P.C." } } article

If something looks like, walks like and quacks like a duck, then it just may be a duck. Although this type of abductive reasoning can be useful in a wide range of circumstances, it can lead to poor conclusions when... read more

array(1) { [0]=> array(4) { ["photo"]=> int(82859) ["name"]=> string(19) "Kenneth P. Weinberg" ["title"]=> string(11) "Shareholder" ["company"]=> string(11) "Rimon, P.C." } } article

Electronic signatures have become increasingly common in equipment leasing and finance transactions, and the COVID-19 pandemic has only accelerated this trend. Many questions surrounding the enforceability of these transactions against lessees and borrowers are similar to those raised in other... read more

array(1) { [0]=> array(4) { ["photo"]=> int(80792) ["name"]=> string(19) "Kenneth P. Weinberg" ["title"]=> string(11) "Shareholder" ["company"]=> string(10) "Rimon, P.C" } } article

It happens all the time. You finance a customer’s acquisition of equipment and the customer subleases the equipment. While there is nothing inherently wrong with such arrangements, several potential issues arise which, if not carefully addressed, could expose a finance... read more

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Late last year, Dispatches from the Trenches focused on the increasingly common approach in our industry of describing collateral in financing statements as “all equipment leased or financed” or words of similar effect.1 Two additional holdings have further clarified the... read more

In certain segments of our industry, the interest rate charged for the advance of loan proceeds may exceed the rates allowed under the usury laws of the state where the borrower or lessee may be located. It is important to... read more

August 2019

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Various common types of transactions in our industry result in equipment leasing and finance companies acquiring interests in transactions that are outside the primary states in which they are located. Some examples include the very active market pursuant to which... read more

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The core purpose of a UCC financing statement is to give notice to secured parties, lien creditors, purchasers and other third parties that the secured party identified in the financing statement claims an interest in the collateral described in the... read more

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Equipment finance agreements often include robust provisions addressing a variety of insurance issues, including obligations to maintain property and/or liability insurance. Of course, contractual provisions obligating the lessee or borrower to maintain insurance are of little value if the requisite... read more

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In certain circumstances, a lender providing equipment financing may be unable or unwilling to obtain or rely on the super-priority lien afforded to a purchase money security interest under §9-324 of the Uniform Commercial Code. In these circumstances, the lender... read more

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A classic proverb states that the road to a bad, bad place is paved with good intentions. When it comes to a particular type of goods, known as fixtures, an expression of intent can be very valuable. Strong equipment leasing... read more

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Our industry is known for creative and complex structures. Leasing products, designed in part to more effectively monetize tax benefits, include a plethora of options such as early buyout, early termination, fixed price, fair market value, TRAC, Split-TRAC, renewal and... read more

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The last edition of Dispatches from the Trenches explored certain aspects of the super-priority rule contained in Article 9 of the UCC relating to possession of chattel paper. As discussed, under certain circumstances, this rule allows a party that takes... read more