Common use of Bailee for Perfection Clause in Contracts

Bailee for Perfection. (a) The First-Lien Collateral Agent agrees to acquire, and hereby acknowledges it holds, the Pledged Collateral or other Collateral in its possession or control (or in the possession or control of its agents or bailees) on behalf of itself and the Second-Lien Collateral Agent (it being understood that with respect to the Second-Lien Collateral Agent, it holds solely the Pledged Collateral or other Collateral constituting Shared Collateral) and, in each case, and any assignee solely for the purpose of perfecting the security interest granted under the First-Lien Credit Documents and the Second-Lien Notes Documents, subject to the terms and conditions of this Section 5.6.

Bailee for Perfection. (a) The First-First Lien Collateral Agent agrees to acquire, and hereby acknowledges it holds, hold that part of the Pledged Collateral or other Collateral that is in its possession or control (or in the possession or control of its agents or bailees), to the extent that possession or control thereof is taken to perfect a Lien thereon under the Uniform Commercial Code (such Collateral being the "Pledged Collateral") as collateral agent for the First Lien Claimholders and on behalf of itself and for the Second-benefit of the Second Lien Collateral Agent (it being understood that with respect to the Second-Lien Collateral Agent, it holds solely the Pledged Collateral or other Collateral constituting Shared Collateral) and, in each case, and any assignee solely for the purpose of perfecting the security interest granted under the First-First Lien Credit Documents and the Second-Second Lien Notes Credit Documents, respectively, subject to the terms and conditions of this Section 5.65.5.

Bailee for Perfection. (a) The First-Lien Collateral Agent agrees to acquire, and hereby acknowledges it holds, the Pledged Collateral or other Collateral in its possession or control (or in the possession or control of its agents or bailees) on behalf of itself and the Second-Lien Collateral Agent (it being understood that with respect to the Second-Lien Collateral Agent, it holds solely the Pledged Collateral or other Collateral constituting Shared Collateral) and, in each case, and any assignee assignee, solely for the purpose of perfecting the security interest granted under E-15 the First-Lien Credit Documents and the Second-Lien Subordinated Notes Documents, subject to the terms and conditions of this Section 5.65.5.

Bailee for Perfection. (a) The First-Lien Collateral Agent agrees to acquire, and hereby acknowledges it holds, the Pledged Collateral or other Collateral in its possession or control (or in the possession or control of its agents or bailees) on behalf of itself and the Second-Lien Collateral Agent (it being understood that with respect to the Second-Lien Collateral Agent, it holds solely the Pledged Collateral or other Collateral constituting Shared Collateral) and, in each case, and any assignee assignee, solely for the purpose of perfecting the security interest granted under the First-Lien Credit Documents and the Second-Lien Subordinated Notes Documents, subject to the terms and conditions of this Section 5.65.5.