UCC Article 9

US law governing security interests in personal property including financial assets. Creditor must 'perfect' via UCC-1 financing statement. 5-year term; must be continued within 6-month window before expiry; debtor name must exactly match state-registered legal name.

True Sale

A transfer of assets constituting a legal sale (not a secured loan) so that the assets are excluded from the originator's insolvency estate. Requires: (1) intent of parties; (2) no obligation to repurchase at par; (3) no practical control retained; (4) supported by a true sale legal opinion. See also: VIE/ASC 810 for US GAAP consolidation consequences.

UCC Continuation Statement

A filing extending a UCC-1 financing statement's validity for an additional 5-year period. Must be filed in the 6-month window before the original statement's expiry. Missing continuation = lapsed perfection = assets available to trustee-in-bankruptcy.

Floating Charge

UK-specific security interest over a class of assets that 'floats' over the pool as assets cycle in and out, crystallising into a fixed charge on default. Broadly analogous to UCC Article 9 'after-acquired property' clause.