Common use of Collateral in the Possession of a Warehouseman or Bailee Clause in Contracts

Collateral in the Possession of a Warehouseman or Bailee. If any of the Collateral at any time is in the possession of a warehouseman or bailee, the Borrower shall promptly notify Lender thereof, and shall promptly obtain a Collateral Access Agreement. Lender agrees with the Borrower that Lender shall not give any instructions to such warehouseman or bailee pursuant to such Collateral Access Agreement unless an Event of Default has occurred and is continuing, or would occur after taking into account any action by the Borrower with respect to the warehouseman or bailee.

Collateral in the Possession of a Warehouseman or Bailee. If any of the Collateral at any time is in the possession of a warehouseman or bailee, the Borrower Guarantor shall promptly notify Lender the Lenders and the Secured Party Representative thereof, and shall use commercially reasonable efforts to promptly obtain a Collateral Access Agreement. Lender agrees with the Borrower that No Lender shall not give any instructions to such warehouseman or bailee pursuant to such Collateral Access Agreement unless an a Security Agreement Event of Default has occurred and is continuing, continuing or would occur after taking into account any action by the Borrower Guarantor with respect to the warehouseman or bailee.

Collateral in the Possession of a Warehouseman or Bailee. If any of the Collateral at any time is in the possession of a warehouseman or bailee, the Borrower Borrowers shall promptly notify the Lender thereof, and shall promptly obtain a Collateral Access Agreementcollateral access agreement in form satisfactory to the Lender. The Lender agrees with the Borrower Borrowers that the Lender shall not give any instructions to such warehouseman or bailee pursuant to such Collateral Access Agreement collateral access agreement unless an Event of Default has occurred and is continuing, or would occur after taking into account any action by the Borrower Borrowers with respect to the warehouseman or bailee.

Collateral in the Possession of a Warehouseman or Bailee. If any of the Collateral at any time is in the possession of a warehouseman or bailee, the Borrower Debtor shall promptly notify Lender the Administrative Agent thereof, and shall promptly obtain a Collateral Access Agreement. Lender The Administrative Agent agrees with the Borrower Debtor that Lender the Administrative Agent shall not give any instructions to such warehouseman or bailee pursuant to such Collateral Access Agreement unless an Event of Default has occurred and is continuing, continuing or would occur after taking into account any action by the Borrower Debtor with respect to the warehouseman or bailee.

Collateral in the Possession of a Warehouseman or Bailee. If any of the Collateral at any time is in the possession of a warehouseman or bailee, the Borrower shall promptly notify Lender thereof, and shall promptly obtain a Collateral Access Agreement. Lender agrees with the Borrower that Lender shall not give any instructions to such warehouseman or bailee pursuant to such Collateral Access Agreement unless an Event of Default has occurred and is continuing, or would occur after taking into account any action by the Borrower with respect to the warehouseman or bailee.

Collateral in the Possession of a Warehouseman or Bailee. If any of the Collateral at any time is in the possession of a warehouseman or bailee, the Borrower Borrowers shall promptly notify Lender thereof, and shall promptly obtain a Collateral Access Agreement. Lender agrees with the Borrower Borrowers that Lender shall not give any instructions to such warehouseman or bailee pursuant to such Collateral Access Agreement unless an Event of Default has occurred and is continuing, or would occur after taking into account any action by the Borrower Borrowers with respect to the warehouseman or bailee.