Arthur Oman, a loan officer at Second National Bank, has been given the unpleasant task of "pulling the plug" on one of the bank's custom- ers, Rebel Discount Drugs. Rebel owes $600,000 on a line of credit secured by inventory, equipment, and the debtor's interest under its lease. Rebel's note is payable "on demand." Arthur has come to see you, the bank's lawyer, to discuss the possibility of giving 30 days' notice to Rebel before making the demand. "They won't find another Tender in this market," he says, "but I feel like I owe it to Walt Rebel to let him try." In response to your questions, Arthur tells you that Rebel buys its inventory on credit from suppliers, floats them for about 90 to 120 days, and then pays them out of the $4,000 to $8,000 a day that comes in through the cash registers. (Arthur knows this because the agreement between Rebel and the bank requires that Rebel keep its account at the bank and deposit its cash register receipts to the account daily.) Once the bank fore- closes, the equipment is probably worth about $80,000 on the resale market and the inventory would probably bring in about.