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Lien Waiver Or Subordination Agreement? There's A Big Difference

LexisNexis (May 3, 2018, 10:41 AM EDT) -- In the realm of agricultural lending, many secured transactions involve both a bank and the Commodity Credit Corporation (CCC).  As part of the financing, the commercial bank (or other private lender) is asked by CCC to sign a "lien waiver," using a standard CCC form.  The big issue that has arisen is whether this form constitutes merely a subordination to the bank's security interest to that of the CCC, or an outright release of the security interest.  The issue first surfaced in a 1985 case from...
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