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This article explores the subordinate lender's right and ability, post-default, to take possession of, and to hold for an extended period of time, these pledged interests, and to receive their financial benefits, without "disposing" of the pledged interests pursuant to the foreclosure provisions of Article 9 of the Uniform Commercial Code, and without attempting to accept the pledged interests in full or partial satisfaction of the borrower's obligations.
July 25, 2007 at 12:00 AM
1 minute read
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