Bailee Letters. Each Pledgor shall use its commercially reasonable efforts to obtain as soon as practicable after the date hereof with respect to each location set forth on Schedule 2(e) to the Perfection Certificate a Bailee Letter, and use commercially reasonable efforts to obtain a Bailee Letter from all such bailees who from time to time have possession of the Pledged Collateral in the ordinary course of such Pledgor's business and if reasonably requested by the Collateral Agent. A Bailee Letter shall not be required if the value of the Pledged Collateral held by such bailee is less than $70,000, provided that the aggregate value of the Pledged Collateral held by all bailees who have not delivered a Bailee Letter is less than $500,000 in the aggregate. Notwithstanding the foregoing, the provisions set forth in this Section 3.04(g) with respect to Bailee Letters, shall not apply to consignment Inventory held by customers of any Pledgor on a trial or sample basis in the ordinary course of such Pledgor's business.
Bailee Letters. As of the date hereof, each Pledgor hereby represents and warrants that all locations of bailees at which Pledged Collateral valued at [*****] or more is located are set forth in Schedule I to this Agreement. Each Pledgor shall use commercially reasonable efforts to obtain as soon as practicable after the date hereof with respect to each location set forth in Schedule I to this location, a Bailee Letter and use commercially reasonable efforts to obtain a Bailee Letter from all such bailees, who from time to time have possession of any Pledge Collateral with a value in excess of [*****]. A Bailee Letter shall not be required if the value of the Pledged Collateral held by such bailee is less than [*****] or such location is a clinical trial site, provided that the aggregate value of Pledged Collateral held by all bailees who have not delivered a Bailee Letter (other than clinical trial sites) is less than $[*****] in the aggregate.
Bailee Letters. Bailee letters from each warehouseman or bailee having possession of any Inventory.
Bailee Letters. Borrower shall use its best efforts to obtain bailee letters, substantially in the form attached hereto as Exhibit W, or in such other form as is acceptable to the Agent in its sole discretion, from the bailee of each Warehouse prior to the Closing Date. If a bailee letter is not obtained with respect to any warehouse prior to the Closing Date, the Lenders may create a reserve from the Borrowing Base to pay the rent obligations of Borrower or ACC Canada, as applicable, with respect to such warehouse.
Bailee Letters. Licensee must instruct its warehouse lenders to place the name of the warehouse lender in the header of its bailee letters associated with Xxxxxx Mae loans.
Bailee Letters. Upon the request of Agent, Pledgor shall use its commercially reasonable efforts to obtain as soon as practicable after the date hereof with respect to each location set forth in Schedules 2(d) and 2(e) annexed to the Perfection Certificate, where Pledgor maintains Pledged Collateral, a Bailee Letter and use commercially reasonable efforts to obtain a Bailee Letter from all such bailees who from time to time have possession of Pledged Collateral in the ordinary course of Pledgor’s business and if reasonably requested by the Agent. A waiver of bailee’s lien shall not be required if the value of the Pledged Collateral held by such bailee is less than $100,000, provided that the aggregate value of the Pledged Collateral held by all bailees who have not delivered a Bailee Letter is less than $600,000 in the aggregate.
Bailee Letters. Each of the Companies shall have delivered to Agent bailee, consignee, processor's and warehousemen consent and waiver letters for those bailees, processors and/or warehousemen identified on Schedule 2.1 hereof, each in form and substance acceptable to Agent. Upon the execution of this Financing Agreement and the initial disbursement of loans hereunder, all of the above Conditions Precedent shall have been deemed satisfied except as otherwise set forth hereinabove or as the Companies and the Agent shall otherwise agree in writing.
Bailee Letters. Borrower acknowledges that it has failed to deliver to the Administrative Agent bailee letters substantially in the form attached as Exhibit O hereto from each of the bailees listed on Schedule I hereto and identified as missing a bailee letter. Borrower represents that Schedule I hereto is a complete list of all bailees holding its or its Subsidiaries (other than International Subsidiaries) Inventory as of the date hereof. Notwithstanding any prior course of performance or dealing by the Administrative Agent and the Borrower contrary to the Credit Agreement, beginning on October 31, 2003, any Inventory of the Borrower or its Subsidiaries (other than International Subsidiaries) that is stored with a bailee, warehouseman or similar party and not covered by an acknowledged bailee letter or otherwise meeting the requirements of the definition of Eligible Inventory in the Credit Agreement shall not be considered Eligible Inventory and shall be excluded from the calculation of the Borrowing Base.
Bailee Letters. As soon as possible, but in no event later than September 15, 2009, the Borrower shall execute and deliver to the Agent an acknowledgment and waiver of Liens, signed by each owner of all locations listed on Exhibit 3B hereto, acknowledging the Agent’s prior security interest in all property located in such warehouse and agreeing to turn over such property to the Agent upon request at any time.
Bailee Letters. Each Issuer shall use its commercially reasonable efforts to obtain as soon as practicable after the date hereof with respect to each location listed in Schedule 2(d) annexed to the Perfection Certificate, where such Issuer maintains Collateral, a waiver of bailee's lien substantially in the form of Exhibit 3 annexed hereto (each a "Bailee Letter") and use commercially reasonable efforts to obtain a Bailee Letter from all such bailees who from time to time have possession of Collateral in the ordinary course of such Issuer's business.
