Common use of Third Party Custody Clause in Contracts

Third Party Custody. Upon written request by ▇▇▇▇▇▇ with respect to any Collateral that is in the possession of a third party, ▇▇▇▇▇▇▇▇ shall join with Lender in notifying such third party of ▇▇▇▇▇▇’s security interest and obtaining an acknowledgement from such third party that it is holding such Collateral for the benefit of Lender, which acknowledgment shall be in form and substance satisfactory to Lender, in ▇▇▇▇▇▇’s Permitted Discretion.

Third Party Custody. Upon written request by ▇▇▇▇▇▇ with respect to In the event that any Collateral that is in the possession of ‎of a third party, ▇B▇▇▇▇▇▇▇ shall join with Lender L▇▇▇▇▇ in notifying such third party of L▇▇▇▇▇▇’s 's security interest ‎interest and obtaining an acknowledgement from such third party that it is holding such Collateral ‎Collateral for the benefit of Lender, which acknowledgment shall be in form and substance satisfactory to Lender, in ▇▇▇▇▇▇’s Permitted Discretion.Lender.‎