Gebbia-2011-fall-sectrans-exam

October 15 2008 lender bank loaned chipster 50000000

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Unformatted text preview: CC-1 financing statement. October 15, 2008, Lender Bank loaned Chipster $50,000,000 pursuant to the agreement and note. The Loan and Security Agreement includes the following information: Debtor: Chipster, Inc. Debt: all obligations of any type or nature, whether now owing or owing at any time in the future Collateral: “As security for the obligations set forth herein, Chipster, Inc. hereby grants to Lender Bank a first priority secured interest in the following personal property, whether now owned or existing or hereafter acquired or created, and wherever located, and all Proceeds of the following: equipment, accounts receivable, and deposit accounts” Lender Bank’s UCC-1 Financing Statement, which Lender Bank filed with the California Secretary of State on October 1, 2008 with Chipster’s authorization, includes the following information: Collateral: all personal property Name of Debtor: Chipster, Inc. The financing statement includes the correct name and address for Lender Bank...
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