Bailee. If any goods are at any time in the possession of a bailee, Borrower shall promptly notify Lender thereof and, if requested by L▇▇▇▇▇, shall promptly obtain an acknowledgment from the bailee, in form and substance satisfactory to Lender, that the bailee holds such Collateral for the benefit of the Borrower and Lender and shall act upon the instructions of Lender, without the further consent of Borrower. L▇▇▇▇▇ agrees with Borrower that L▇▇▇▇▇ shall not give any such instructions unless an Event of Default has occurred and is continuing or would occur after taking into account any action by Borrower with respect to the bailee.
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Bailee. If any goods are at any time in the possession of a bailee, Borrower Borrowers shall promptly notify Lender thereof and, if requested by L▇▇▇▇▇▇, shall promptly obtain an acknowledgment from the bailee, in form and substance satisfactory to Lender, that the bailee holds such Collateral for the benefit of the Borrower and Lender and shall act upon the instructions of Lender, without the further consent of any Borrower. L▇▇▇▇▇▇ agrees with Borrower Borrowers that L▇▇▇▇▇▇ shall not give any such instructions unless an Event of Default has occurred and is continuing or would occur after taking into account any action by a Borrower with respect to the bailee.
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