Second Warehouse Facility Sample Clauses
The 'Second Warehouse Facility' clause establishes the terms under which an additional warehouse location may be used or provided as part of the agreement. Typically, this clause outlines the conditions for accessing, operating, or leasing a secondary storage site, including any requirements for notification, approval, or compliance with existing standards. By specifying the framework for utilizing a second facility, the clause ensures operational flexibility and helps address capacity constraints or logistical needs that may arise during the contract term.
Second Warehouse Facility. Neither the Seller nor the Company will permit any Affiliate or Subsidiary thereof to enter into a Second Warehouse Facility with borrowing base eligibility criteria that are more restrictive on the Seller or any Affiliate or Subsidiary thereof than the terms of this Agreement. If the Seller or any Affiliate of Subsidiary thereof enters into any amendment, waiver or modification to the Second Warehouse Facility to include borrowing base eligibility criteria that are more restrictive on the Seller or any Affiliate or Subsidiary thereof than the terms of this Agreement (such modification being referred to as a “Warehouse Modification”), then this Agreement shall automatically be deemed modified to contain such more restricted eligibility criteria. Promptly but in no event more than five Business Days following the execution of any amendment to the Second Warehouse Facility documentation providing for a Warehouse Modification, the Company shall furnish the Administrative Agent and each Lender with a copy of such amendment, including on a redacted basis if required by the confidentiality restrictions of such document.