Equipment Leases: Drafting and UCC Article 2A Issues (Live Replay from April 21, 2022)

Thank you

Thank you for joining us today.

Description

Many companies lease rather than buy computers and servers, company cars and other capital equipment. These leases are government by UCC Article 2A, an intricate set of provisions governing their validity, treatment, and enforcement.

If the lease is not properly drafted to comply with the UCC, it risks being re-characterized as a sale or a security interest, which give rise to substantially adverse financial and tax consequences.

This program also provides a practical guide to reviewing equipment leases, including spotting red flags and avoiding recharacterization.

Types of equipment leases – "true" leases, synthetic leases, "lease to own" arrangements, and more
Spotting red flags of financeable leases – and how to ensure UCC 2A compliance
Rights and obligations of the parties – manufacturer, lessor and lessee – and remedies for breach
Circumstances leading to re-characterization of a "true lease" as a sale or financing
Adverse financial, tax and practical ramifications of lease re-characterization

Contributors

Steven O. Weise

Steven O. Weise is a partner in the Los Angeles office Proskauer Rose, LLP, where his practice encompasses all areas of commercial law. He has extensive experience in financings, particularly those secured by personal property. He also handles matters involving real property anti-deficiency laws, workouts, guarantees, sales of goods, letters of credit, commercial paper and checks, and investment securities. Mr. Weise formerly served as chair of the ABA Business Law Section. He has also served as a member of the Permanent Editorial Board of the UCC and as an Advisor to the UCC Code Article 9 Drafting Committee. Mr. Weise received his B.A. from Yale University and his J.D. from the University of California, Berkeley, Boalt Hall School of Law.

Click here for more information about Steven.

Thank you

Description

Contributors

Steven O. Weise