Negative Pledges And The Free-Assignability Principle Under UCC Article 9

LexisNexis (September 27, 2022, 12:46 PM EDT) -- Secured lenders are wise not to rely on negative pledge agreements to create and protect security interests in collateral under Article 9 of the Uniform Commercial Code (UCC). Negative pledge agreements prohibit a transfer of the debtor’s rights in collateral or make the transfer a default....