Collateralizing Nonassignable Contracts, Licenses, and Permits: Half a Loaf Is Better than No Loaf

The issue of whether, and to what extent, to recognize a security interest in nonassignable contracts, permits, and licenses has long vexed lenders, borrowers, and the grantors of such licenses and permits. This Article analyzes case law, especially in the context of Federal Communications Commissio...

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Veröffentlicht in:The Business lawyer 1997-02, Vol.52 (2), p.559-575
1. Verfasser: Boyce, Timothy J.
Format: Artikel
Sprache:eng
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Zusammenfassung:The issue of whether, and to what extent, to recognize a security interest in nonassignable contracts, permits, and licenses has long vexed lenders, borrowers, and the grantors of such licenses and permits. This Article analyzes case law, especially in the context of Federal Communications Commission broadcast licenses, as well as proposed revisions to the Uniform Commercial Code, to suggest that an acceptable compromise position can be reached one which protects both the core interests of lenders in adequately collateralizing their loans and of grantors of such licenses and permits in restricting those with whom they deal.
ISSN:0007-6899
2164-1838