Richard C. Dusome
Counsel
Vidéos
Publié12 janvier 2023
Arrangements with third-party creditors: No Interest Letters vs PPSA Estoppel Letters
In some cases, you may require a secured party to provide you with either a PPSA estoppel letter or a no interest letter, depending upon the personal property assets you are intending to take security over.
8
minutes de lecture
My name is Stephanie Harvey and I am a corporate/commercial lending lawyer with Gowling WLG. You are watching video one of our 'Types of Security' video series. As the name suggests, each video in this series will discuss different security that a lender should consider when putting its security package together.
In some cases, you may require a secured party to provide you with either a PPSA estoppel letter or a no interest letter, depending upon the personal property assets you are intending to take security over.
In this video we discuss:
- Dealing with competing claims
- General Collateral Descriptions (GCDs)
- PPSA estoppel letter vs. no interest letter
- Ontario's "Check the Box" system
Watch more videos | Go to our lending resource hub
How we can help
If you have any specific questions about the points discussed or it's specific application, please reach out to our Banking & Finance Group or Richard Dusome.
About the series
Lending rarely involves one bank providing 100 per cent of the financing. In many situations, there are numerous third-party creditors involved in a given transition. With so many stakeholders in play, bankers might have no idea how to legally protect their interest. This series will delve into the "why" and "how" of preparing priority arrangements, all in a language bankers can understand.
CECI NE CONSTITUE PAS UN AVIS JURIDIQUE. L'information qui est présentée dans le site Web sous quelque forme que ce soit est fournie à titre informatif uniquement. Elle ne constitue pas un avis juridique et ne devrait pas être interprétée comme tel. Aucun utilisateur ne devrait prendre ou négliger de prendre des décisions en se fiant uniquement à ces renseignements, ni ignorer les conseils juridiques d'un professionnel ou tarder à consulter un professionnel sur la base de ce qu'il a lu dans ce site Web. Les professionnels de Gowling WLG seront heureux de discuter avec l'utilisateur des différentes options possibles concernant certaines questions juridiques précises.
