September 11, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours
Equipment leasing is increasingly commonplace as companies choose to lease rather than buy the computers and servers, office equipment, machines, cars and other capital equipment essential to operating their businesses. Equipment leases have also become exceptionally complex over time, resembling financially engineered instruments as much as traditional leases. The leases must comply with UCC Article 2A or risk financially disadvantaging the lessor and/or the lessee. If a lease is re-characterized as a sale or a security interest because of its terms, the lease’s underlying economics are altered dramatically. This program will also provide you with a practical guide to reviewing and marking up an equipment lease, ensuring compliance with UCC Article 2A to mitigate the risk of re-characterization as a sale or security interest, and undering the rights and obligations of the parties.
Barry A. Graynor, Cooley, LLP, California