Bailee Agreement Clause Samples
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Bailee Agreement. Borrower hereby represents and warrants that, as of the date of execution and deliver of this Agreement, no goods of Borrower are in the possession of any warehouseman or other bailee (except as set forth in Section 3(d) of the Representations), and hereby covenants that Borrower promptly shall deliver written notice to Lender of any goods of Borrower being in the possession of any other warehouseman or other bailee. With respect to any goods or other Collateral of Borrower in the possession of any warehouseman or other bailee (including any set forth in Section 3(d) of the Representations), Borrower shall, promptly upon Lender’s request therefor, use commercially reasonable efforts to deliver to Lender a bailee agreement (in form and substance satisfactory to Lender) duly executed by such warehouseman or other bailee. In the event that Lender requests such a bailee agreement and Borrower uses such efforts but does not succeed in delivering such a bailee agreement, Lender may (in its good faith business judgment) maintain a Reserve with respect to such warehouse or other bailee location. Regardless of whether a bailee agreement is executed or not, Lender will establish a Reserve equal to three (3) months’ worth of warehouse fees that are charged to Borrower with respect to each warehouseman or other bailee in possession of any goods of Borrower.
Bailee Agreement. Except in accordance with the express terms thereof, any Bailee Agreement or any provision thereof shall cease to be in full force or effect, or the Bailee under any Bailee Agreement shall (except to the extent it has turned over all Collateral held by it to the Collateral Agent) default in its obligations thereunder or notify the Administrative Agent, the Collateral Agent, any Lender or the U.S. Borrower or any of its Subsidiaries that it no longer holds the collateral thereunder for the benefit of the Collateral Agent and the Secured Creditors; or
Bailee Agreement. Borrower hereby represents and warrants that, as of the date of execution and delivery of this Agreement, no goods of Borrower are in the possession of any warehouseman or other bailee (except as disclosed in the Borrower Disclosure Schedule, attached), and hereby covenants that Borrower promptly shall deliver written notice to Lender of any goods of Borrower being in the possession of any other warehouseman or other bailee. With respect to any goods or other Collateral of Borrower in the possession of any warehouseman or other bailee, Borrower shall, promptly upon L▇▇▇▇▇’s request therefor, use commercially reasonable efforts to deliver to Lender a bailee agreement (in form and substance satisfactory to Lender) duly executed by such warehouseman or other bailee. In the event that Lender requests such a bailee agreement and Borrower uses such efforts but does not succeed in delivering such a bailee agreement, Lender may (in its good faith business judgment) maintain a Reserve with respect to such warehouse or other bailee location.
Bailee Agreement. A Bailee Agreement in respect of Table-Funded Mortgage Loans to be pledged to hereunder on such Business Day, duly executed by the parties thereto;
Bailee Agreement. Borrower hereby represents and warrants that, as of the date of execution and deliver of this Agreement, no goods of Borrower are in the possession of any warehouseman or other bailee (except as set forth in Section 3(d) of the Representations), and hereby covenants that Borrower promptly shall deliver written notice to Lender of any goods of Borrower being in the possession of any other warehouseman or other bailee. With respect to any goods or other Collateral of Borrower in the possession of any warehouseman or other bailee (including any set forth in Section 3(d) of the Representations), Borrower shall, promptly upon Lender’s request therefor, use commercially reasonable efforts to deliver to Lender a bailee agreement (in form and substance satisfactory to Lender) duly executed by such warehouseman or other bailee.
Bailee Agreement. Borrower hereby represents and warrants that, as of the date of execution and deliver of this Agreement, no goods of Borrower are in the possession of any warehouseman or other bailee, and hereby covenants that Borrower promptly shall deliver written notice to Silicon of any goods of Borrower being in the possession of any warehouseman or other bailee. With respect to any goods of Borrower in the possession of any warehouseman or other bailee, Borrower shall, promptly upon Silicon's request therefor, deliver to Silicon a bailee agreement (in form and substance satisfactory to Silicon) duly executed by such warehouseman or other bailee.
Bailee Agreement. On the Closing Date, the Agent on behalf of the Lenders, First Trust National Association on behalf of the holders of Senior Secured Notes, the Borrower and First Trust National Association, as Bailee, shall have entered into a Bailee Agreement in the form of Exhibit O (as modified, amended or supplemented from time to time in accordance with the terms thereof and hereof, the "Bailee Agreement"), which shall be in full force and effect.
Bailee Agreement. A bailee agreement or bailee letter that is in a form acceptable to Buyer.
Bailee Agreement. A bailee agreement or bailee letter that is in a form acceptable to Buyer. Bankruptcy Code: Title 11 of the United States Code, now or hereafter in effect, as amended, or any successor thereto.
Bailee Agreement. A bailee agreement with respect to Borrowers' Servex warehouse location, in form and substance satisfactory to Agent in its reasonable discretion.