CERTAIN PERFECTION MATTERS Clause Samples

CERTAIN PERFECTION MATTERS. Subordinator has appointed the Administrative Agent as Subordinator's bailee for perfection purposes with respect to such instruments and certificated securities that constitute part of the Collateral that may, from time to time, be in the possession of the Administrative Agent. The Administrative Agent hereby accepts such appointment as bailee without any liability or recourse to the Administrative Agent with respect to such role as bailee. Subordinator hereby releases, to the extent permitted under the applicable law, the Administrative Agent, and the Subordinator holds the Administrative Agent harmless for all acts and omissions respect to such Collateral in connection with the Administrative Agent acting as bailee for Subordinator.