Common use of Proper Contract Documentation Clause in Contracts

Proper Contract Documentation. Upon the reasonable request of Agent, not less than ten days after the date on which any new Contracts are tendered to Agent for inclusion in the Collateral, Borrowers shall have: (i) delivered to Agent and Lenders such information concerning the Contracts and Contract Debtors thereunder as Agent may reasonably require; (ii) properly and effectively endorsed or collaterally assigned, as appropriate, to Agent, the Contracts and other Collateral and the documents underlying or securing each of such Contracts; and (iii) stamped on the Contracts, Security Documents, and all other Instruments constituting Collateral the following words: “This document is subject to a security interest in favor of Bank of America, N.A., as Agent.”