Buyer agrees to execute a financing statement upon BMA’s request. The security interest granted under this provision constitutes a purchase money security interest under the North Carolina Uniform Commercial Code.
BMA may reclaim any Goods delivered or in transit if Buyer fails to make payment when due. Purchase Money Security Interest As collateral security for the payment of the purchase of the Goods, Buyer hereby grants to BMA a lien on and security interest in and to all of the right, title, and interest of Buyer in, to and under the Goods, wherever located, and whether now existing or hereafter arising or acquired from time to time, and in all accessions thereto and replacements or modifications thereof, as well as all proceeds (including insurance proceeds) of the foregoing. Related to Purchase Money Security Interests in equipment Security Interest in Financed Equipment.Perfection of Security Interests in the Collateral.Maintenance of Security Interests in Financed Vehicles.Security Interests in Personal and Mixed Property.Maintenance of Security Interests in Financed Equipment.Security Interests in Personal Property.
