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Complementation and Continuation

noun

  • The grammatical relation of a word or phrase to a predicate.
  • Linguistics) a distribution of related speech sounds or forms in such a way that they only appear in different contexts. (.

noun

  • The act of continuing an activity without interruption.
  • A part added to a book or play that continues and extends it.
  • A Gestalt principle of organization holding that there is an innate tendency to perceive a line as continuing its established direction.
  • The consequence of being lengthened in duration.

continuation is a form and process by which a secured party extends the priority of its security interest in the public record. The priority of liens created under Article 9 of the UCC is usually established by filing a financing statement. Under the provisions of Article 9, financing statements are only valid for five years. However, a financing statement can be renewed by filing a continuation statement, usually a UCC-3 form. Continuations must be filed no earlier than six months prior to the expiration of the financing statement and no later than the expiration date of the financing statement. Continuations last for five years and can be extended by filing another continuation.