Common use of Possessory Collateral Clause in Contracts

Possessory Collateral. Within five (5) Business Days upon a Loan Party's receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including, without limitation, any tangible Chattel Paper and any Investment Property consisting of certificated securities, such Loan Party shall deliver the original thereof to Administrative Agent together with an appropriate endorsement or other specific evidence of assignment thereof to Administrative Agent (in form and substance acceptable to Administrative Agent). If an endorsement or assignment of any such items shall not be made for any reason, Administrative Agent is hereby irrevocably authorized, as such Loan Party's attorney and agent-in-fact, to endorse or assign the same on such Loan Party's behalf.

Possessory Collateral. Within Promptly, but in any event no later than five (5) Business Days upon a after any Loan Party's ’s receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including, without limitation, including any tangible Tangible Chattel Paper and any Investment Property consisting of certificated securities, such Loan Party shall deliver the original thereof to Administrative Agent Lender together with an appropriate endorsement or other specific evidence of assignment thereof to Administrative Agent Lender (in form and substance acceptable to Administrative AgentLender). If an endorsement or assignment of any such items shall not be made for any reason, Administrative Agent Lender is hereby irrevocably authorized, as such Loan Party's attorney and agent-in-factfact (coupled with an interest) for each Loan Party, to endorse or assign the same on such Loan Party's ’s behalf.