Bailee Acknowledgments Sample Clauses
The Bailee Acknowledgments clause serves to confirm that a third party (the bailee) has received and is holding certain property on behalf of another party, typically in the context of secured transactions. This clause usually requires the bailee to acknowledge the security interest of a lender or creditor in the property, and may include obligations not to release or dispose of the property without the secured party's consent. Its core practical function is to protect the interests of the secured party by ensuring their rights in the collateral are recognized and preserved while the property is in the bailee's possession.
Bailee Acknowledgments. As soon as practicable after the date hereof (but in any event within thirty (30) days after the Closing Date), the Credit Parties shall deliver to St. Cloud an acknowledgement in substantially the form attached hereto as Schedule 7.17, from each bailee or warehouseman identified on Schedule II to the Pledge and Security Agreement.
Bailee Acknowledgments. The Agent shall have received an agreement acknowledging the Liens of the Agent, for the benefit of the Lenders and the Agent, from each bailee, warehouseman, consignee or similar third party which has possession of any of the Collateral, which agreements must be substantially in the form attached hereto as Exhibit "G-1" and otherwise acceptable to the Agent and its counsel.
Bailee Acknowledgments. 77 5.1.14 Field Examination; Appraisals.................................................... 77 5.1.15
Bailee Acknowledgments. Copies of the Bailee acknowledgement letters, substantially in the form set forth in Exhibit H hereto, duly executed by the Borrower and sent to the applicable bailees associated with each Location of Inventory Storage set forth on Schedule 7.03(f);
Bailee Acknowledgments. The Lender shall have received an agreement acknowledging the Liens of the Lender from each bailee, warehouseman, consignee or similar third party which has possession of any of the Collateral, which agreements must be substantially in the form attached hereto as Exhibit "E-2" and otherwise acceptable to the Lender and its counsel.
Bailee Acknowledgments. 51 5.1.14 Field Examination; Appraisal...............................51 5.1.15 Proforma Balance Sheet and Projections.....................51 5.1.16 Material Adverse Change....................................51 5.1.17 Collateral Account, Lockbox, etc...........................51