Mobile Talk LLC sells phones. The phones are the collateral for a loan from Noble Bank to the seller. The parties agree to extend the UCC's automatic-perfection period for proceeds. In regard to the bank's interest in the proceeds, this agreement

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Under the Uniform Commercial Code (UCC), a security interest in proceeds is automatically perfected for a temporary period. By agreeing to extend this period, the parties can maintain the bank's perfected interest in the proceeds beyond the standard automatic-perfection period. This does not extinguish, relinquish, or leave unaffected the bank's interest; rather, it ensures the interest remains perfected for a longer duration.

Mobile Talk LLC Sells Phones