Bailment. This agreement constitutes an Agreement or bailment of the Equipment and is not a sale or the creation of a security interest. You will not have, or at any time acquire, any right, title, or interest in the Equipment, except the right to possession and use as provided for in this Agreement. We will at all times be the sole owner of the Equipment.
Bailment. The Collateral Custodian agrees that, with respect to any Required Loan Documents at any time or times in its possession or held in its name, the Collateral Custodian shall be the agent and bailee of the Collateral Agent, for the benefit of the Secured Parties, for purposes of perfecting (to the extent not otherwise perfected) the Collateral Agent’s security interest in the Collateral Portfolio and for the purpose of ensuring that such security interest is entitled to first priority status under the UCC.
Bailment. ISO hereby agrees to bail to Xxxxxxxx, the terminal(s) described in the Merchant Application Form (“Terminal”), subject to the terms and conditions hereof. The bailment term shall commence on the date of delivery and shall end upon termination: (i) by ISO upon five (5) days prior notice; (ii) by Merchant upon thirty (30) days prior written notice; or (iii) immediately and without notice where the Agreement is terminated.
Bailment. (a) With respect to any Collateral in which a security interest may be perfected under the UCC or other relevant law only by possession or with respect to which the rights or interests granted to the Subordinated Lender may be precluded by or inconsistent with the rights or interests granted to the Senior Agent and the Senior Lenders (the "Specified Collateral"), the Senior Agent and the Senior Lenders will act as pledgeholder for the Subordinated Lender until of the Senior Debt shall have been Paid in Full, whereupon possession of or the other rights with respect to any such Specified Collateral remaining shall be immediately transferred to the Subordinated Lender; and immediately upon such transfer of possession or the other rights the Subordinated Lender shall become the pledgeholder of the Specified Collateral. The Subordinated Lender acknowledges and agrees that: (i) the Senior Agent and the Senior Lenders do not make any representation or warranty whatsoever as to the nature, extent, description, validity or priority of any Specified Collateral or the security interests in or liens upon any Specified Collateral; (ii) while any Specified Collateral is held by the Senior Agent or the Senior Lenders, the Senior Agent and the Senior Lenders shall not have any liability to, and shall be held harmless by, the Subordinated Lender, for any losses, damages, claims, or liabilities of any kind to the extent arising out of the holding of such Specified Collateral, other than losses, damages, claims, or liabilities arising out of the Senior Agent' or the Senior Lenders' gross negligence or willful misconduct as determined by a final judgment of a court of competent jurisdiction; (iii) the Senior Agent and the Senior Lenders need not act as a pledgeholder for the Subordinated Lender with respect to any Collateral in which a security interest may be perfected by means other than possession; (iv) the Subordinated Lender shall immediately deliver to the Senior Agent (to be held by the Senior Agent in accordance with the terms of the Senior Loan Documents) any Collateral that is now in or in the future comes into their possession; (v) the priority of the Secured Creditors' security interests in and liens upon the Specified Collateral shall be governed by the terms of this Agreement; and (vi) subject to the first sentence of this Paragraph 12, neither the Senior Agent nor the Senior Lenders shall be deemed an "agent" of, or for the benefit of, the Subordinated Lender.
Bailment. Where you do not have a SWORD Account we may hold Warrants on your behalf in SWORD either directly or through a sub-custodian. If we do so we act as bailee and owe you no fiduciary duty, and we do not undertake the responsibilities of a trustee or any other duties in relation to such Warrants not implied by the law of bailment for bare custody of such warrants.
Bailment. Client is lending the Vehicle to be held and used by Supplier as a bailee of the Vehicle in accordance with this Agreement. Supplier shall be the bailee of the Vehicle for as long as Supplier maintains possession of the Vehicle.
Bailment. 22.1 The terms of this agreement are not in any way intended by either party to create a bailment and the Berth Occupier understands that the Marina Management accept no responsibly for the care of any vessel and its contents.
Bailment. This agreement does not create (nor do the parties intend to create) a bailment of The Vessel. This agreement is for the rental of a mooring space by The Owner for The Vessel. There is neither temporary nor permanent control or dominion exercised by CM over The Vessel. The Slip shall be used at the sole risk of The Owner.
Bailment. MUS hereby grants to Codexis, and Codexis hereby accepts, a bailment to non-exclusively use the Materials provided by MUS to Codexis to practice the licenses granted in Section 2.1.1.
Bailment. Unless specifically agreed otherwise, Viterra acts as a bailee of the Client’s Bulk Wheat and does not have any title or ownership in that Bulk Wheat. For the avoidance of doubt, the title to the Grain remains at all times with the Client.
