Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / ucc-perfection-priority-analysis-memo.docx
ucc-perfection-priority-analysis-memo.docx
Parties
Harkness LLP
Quorum Premium Finance LLC
Quorum Receivables Holding LLC
Quorum Insurance Holdings Corp
M. Vasquez
Fortbridge Corporate Services LLC
QRH LLC
The LLC
Dates
September 19, 2022
August 3, 2022
June 30, 2022
October 12, 2022
October 8, 2022
October 5, 2022
Amounts
$500,000,000
$375,000,000
$75,000,000
$35,000,000
$2.1
$612
$612,000,000
$7,427
$485,000,000
$15,000,000
Obligations
During the Revolving Period, new receivables acquired by QRF 2022-1 must satisfy the Eligible Receivables Criteria set forth in the Receivables Transfer Agreement
Instead, perfection of the security interest would require filing a UCC-1 financing statement under UCC § 9-310, which provides the general rule that filing is required to perfect a security interest
The filing details are as follows: • Debtor: Quorum Premium Finance LLC The debtor name must be the exact legal name of QPF as reflected in its Certificate of Formation filed with the Delaware Secretary of State
" Accordingly, the name "Quorum Premium Finance LLC" must be verified against the current Certificate of Formation (or any amendment thereto) on file with the Delaware Secretary of State
The debtor name on the UCC-1 must use QPF's exact legal name as stated in its Certificate of Formation on file with the Delaware Secretary of State
If QPF has an existing warehouse facility or revolving credit facility secured by receivables, the securitized receivables must be released from any existing security interest prior to closing