Inventory Evidenced by Documents. (i) Such Grantor shall cause any negotiable Documents evidencing any Inventory of such Grantor (A) if being held by the ultimate purchaser thereof, to be (1) issued to the order of the Administrative Agent and (2) delivered to the Administrative Agent and (B) if otherwise, to be duly endorsed in a manner satisfactory to the Administrative Agent (provided that any xxxx of lading issued for such Inventory shall be duly endorsed to the extent that it has been issued to or endorsed to such Grantor (without further endorsement)), to be held as Collateral pursuant to this Security Agreement.
Inventory Evidenced by Documents. (i) The Grantor shall, with respect to Documents evidencing Eligible Inventory of the type described in clause (c) of the definition of “Eligible Inventory” set forth in the BNPP Credit Agreement, to the extent such Eligible Inventory is included in the Borrowing Base, cause any negotiable Documents evidencing any such Inventory of the Grantor being held by the ultimate purchaser thereof to be issued to (A) the order of the Collateral Trustee or (B) the order of the Grantor to be held by the Grantor for the benefit of the Collateral Trustee; provided that, the Grantor shall promptly provide to the Collateral Trustee a written certification with respect to any such negotiable Document issued to the order of the Grantor, substantially in the form of Annex 1 or such other form otherwise acceptable to the Collateral Trustee, duly executed and delivered by the Grantor.
