Common use of Collateral Custodian Clause in Contracts

Collateral Custodian. Upon the occurrence and during the continuance of any Default or Event of Default, Agent may at any time and from time to time employ and maintain on the premises of any Loan Party a custodian selected by Agent who shall have full authority to do all acts necessary to protect Agent's and Lenders' interests. Each Loan Party hereby agrees to, and to cause its Subsidiaries to, cooperate with any such custodian and to do whatever Agent may reasonably request to preserve the Collateral. All costs and expenses incurred by Agent by reason of the engagement of any such custodian shall be the responsibility of Borrowers and charged to the Loan Account.

Collateral Custodian. Upon the occurrence and during the continuance of any Default or Event of Default, the Agent may at any time and from time to time employ and maintain on the premises of any Loan Party a custodian selected by the Agent who shall have full authority to do all acts necessary to protect the Agent's and Lenders' interests. Each Loan Party hereby agrees to, and to cause its Subsidiaries to, cooperate with any such custodian and to do whatever the Agent may reasonably request to preserve the Collateral. All costs and expenses incurred by the Agent by reason of the engagement employment of any such the custodian shall be the responsibility of Borrowers the Loan Party and charged to the Loan Account.

Collateral Custodian. Upon the occurrence and during the continuance of any Default or Event of Default, the Agent may at any time and from time to time employ and maintain on the premises of any Loan Party a custodian selected by the Agent who shall have full authority to do all acts necessary to protect the Agent's and Lenders' ’s interests. Each Loan Party hereby agrees to, and to cause its Subsidiaries to, cooperate with any such custodian and to do whatever the Agent may reasonably request to preserve the Collateral. All costs and expenses incurred by the Agent by reason of the engagement employment of any such the custodian shall be the responsibility of Borrowers the Loan Party and charged to the Loan Account.

Collateral Custodian. Upon the occurrence and during the continuance of any Default or Event of Default, Agent may at any time and from time to time employ and maintain on the premises of any Loan Credit Party a custodian selected by Agent who shall have full authority to do all acts necessary to protect Agent's ’s and the Lenders' ’ interests. Each Loan Credit Party hereby agrees to, and to cause its Subsidiaries to, cooperate with any such custodian and to do whatever Agent may reasonably request to preserve the Collateral. All reasonable costs and expenses incurred by Agent by reason of the engagement employment of any such the custodian shall be the responsibility of the Borrowers and charged to the Loan Account.

Collateral Custodian. Upon the occurrence and during the continuance of any Default or Event of Default, Agent may at any time and from time to time employ and maintain on the premises of any Loan Party a custodian selected by Agent who shall have full authority to do all acts necessary to protect Agent's and Lenders' interests. Each Loan Party hereby agrees to, and to cause its Subsidiaries to, cooperate with any such custodian and to do whatever Agent may reasonably request to preserve the Collateral. All costs and expenses incurred by Agent by reason of the engagement employment of any such the custodian shall be the responsibility of Borrowers and payable upon demand to Agent or charged to the Loan Account.

Collateral Custodian. Upon The Agent may at any time following the occurrence and during the continuance of any Default or an Event of Default, Agent may at any time and from time to time Default employ and maintain on in the premises of any the Loan Party Parties a custodian selected by the Agent after consultation with the Lenders who shall have full authority to do all acts necessary to protect the Agent's and Lenders' interests. Each Loan Party hereby agrees to, interests and to cause its Subsidiaries to, report to the Agent thereon. The Loan Parties hereby agree to cooperate with any such custodian and to do whatever the Agent may reasonably request to preserve the Collateral. All reasonable costs and expenses incurred by the Agent and Lenders by reason of the engagement employment of any such the custodian shall be the responsibility of Borrowers and charged to the Loan AccountParties' account and added to the Obligations.