Bailee. Assignor shall hold all Collateral that constitutes possessory collateral (including but not limited to the Term Loan Notes) in its possession or control (or in the possession or control of its agents or bailees) as gratuitous bailee for the benefit of NewCo and any assignee solely for the purpose of perfecting the security interest granted in such Collateral, if any; provided that Assignor shall, at any time upon NewCo’s written request, promptly deliver any of the Term Loan Notes and corresponding allonges to NewCo (or otherwise allow NewCo to obtain control of such Possessory Collateral).
Appears in 2 contracts
Sources: Contribution, Assignment and Assumption Agreement (American Renal Associates Holdings, Inc.), Contribution, Assignment and Assumption Agreement (American Renal Associates Holdings, Inc.)