2Possession of Collateral. Agent and Secured Parties appoint each Secured Party as agent (for the benefit of Secured Parties) for the purpose of perfecting Liens in Collateral held or controlled by it, to the extent such Liens are perfected by possession or control. If a Secured Party obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions.
Appears in 4 contracts
Samples: Loan, Security and Guaranty Agreement (Helix Energy Solutions Group Inc), Loan and Security Agreement (Adara Acquisition Corp.), Loan, Security and Guaranty Agreement (Helix Energy Solutions Group Inc)
2Possession of Collateral. Agent and Secured Parties appoint each Secured Party Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting Liens in any Collateral held or controlled by itsuch Lender, to the extent such Liens are perfected by -118- possession or control. If a Secured Party any Lender obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions.
Appears in 1 contract
Samples: Loan Agreement and Forbearance Agreement (School Specialty Inc)
2Possession of Collateral. Agent and Secured Parties appoint each Secured Party Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting Liens in any Collateral held or controlled by itsuch Lender, to the extent such Liens are perfected by possession or control. If a Secured Party any Lender obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s 's request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s 's instructions.
Appears in 1 contract
Samples: Loan Agreement and Forbearance Agreement (School Specialty Inc)
