as-extracted collateral

as-extracted collateral
Oil, gas, or other minerals that are subject to a security interest that is created by a debtor having an interest in the minerals either before or after extraction. A security interest can also include accounts arising out of the sale at the wellhead or minehead of oil, gas, or other minerals in which the debtor had an interest before extraction. A category of personal property collateral defined by the 2000 revisions to Article 9 of the UCC. American Banker Glossary

Financial and business terms. 2012.

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