Agent’s Bailee definition

Agent’s Bailee means any Person at any time designated by Agent as bailee for Agent with respect to any of the Equity Documents or Debt Investment Loan Documents; provided, that, (a) from and after the Closing Date, Agent’s Bailee shall be U.S. Bank National Association for the Equity Documents and the Debt Investment Loan Documents pursuant to the U.S. Bank Securities Control Agreement, subject to the right of Agent to designate at any time, in its sole discretion, a successor Agent’s Bailee to replace U.S. Bank National Association, as provided for in the Bailment Agreement and (b) in the event that Agent exercises such right, Agent shall give the Borrower ten (10) days’ prior written notice of any replacement Agent’s Bailee.

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Examples of Agent’s Bailee in a sentence

• All of the issued and outstanding Debt Investments of Borrower has been validly issued by the Debt Investment Obligors and fully funded, and Borrower is the owner and holder thereof (except to the extent that Agent’s Bailee may be in possession of any promissory notes or other tangible evidence thereof).

• Borrower is the owner and holder of the Equity Interests in each Portfolio Company (except to the extent that Agent’s Bailee may be in possession of any certificates or other tangible evidence thereof for the Equity Investments).

• The Borrower shall maintain all Equity Documents and Debt Investment Loan Documents (other than Equity Documents and Debt Investment Loan Documents which have been delivered to Agent or to Agent’s Bailee) in a secure manner in a location with fire, casualty and theft protection reasonably satisfactory to Agent.