Bailee Agreements Clause Samples

Bailee Agreements. A Bailee Agreement with each warehouseman which owns any premises at which any Inventory may, from time to time, be kept.

Bailee Agreements. Prior to giving any Bailee possession of any Goods, the Debtors shall furnish to the Secured Party a written Bailee Agreement satisfactory to the Secured Party executed by the Debtors and such Bailee. Upon and after the occurrence of a Default under any Transaction Document, the Secured Party shall be entitled to exercise exclusive control over any Goods in the possession of a Bailee, and shall be entitled to give each such Bailee written notice of the Secured Party’s exclusive control of such Goods.

Bailee Agreements. As to any Inventory or other Collateral stored with any warehouseman or other third party, Borrower shall use commercially reasonable efforts to provide Lender with agreements by such warehouseman or other third party in favor of Lender within 45 days after the date hereof, in such form as Lender shall specify in its good faith business judgment, including without limitation agreements from NSG Technology, Inc., and MC Assembly.

Bailee Agreements. The Agent shall have received satisfactory bailee agreements from FMI International and Streamline Shippers Association.

Bailee Agreements. Borrower shall cause any bailee or warehouseman at which Borrower maintains any Collateral and identified in the Representations to execute and deliver to Silicon a bailee agreement (in form and substance satisfactory to Silicon) with respect to all Collateral maintained by Borrower at such bailee or warehouseman. Borrower hereby covenants that Borrower promptly shall deliver written notice to Silicon of any Collateral being in the possession of any warehouseman or other bailee not identified in the Representations. With respect to any Collateral of Borrower in the possession of any warehouseman or other bailee not identified in the Representations, 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 Agreements. Although a Bailee Agreement shall be required to be executed and delivered on the Initial Borrowing Date by the trustee pursuant to the Existing Senior Secured Notes Indenture, the sub-agent of such trustee which holds collateral in the State of Nevada shall not be required to execute or deliver a Bailee Agreement on the Initial Borrowing Date. Within 10 Business Days after the Initial Borrowing Date, a copy of the executed Bailee Agreement with the trustee pursuant to the Existing Senior Secured Notes Indenture shall be sent to such sub-agent, with a notice, in form and substance reasonably satisfactory to the Collateral Agent, informing the sub-agent that all collateral held by it is subject to the Bailee Agreement and the security interests (subject to the provisions of Section 13.18) created pursuant to the Security Documents.

Bailee Agreements. Within 60 days after the date hereof, Borrower shall cause each of Adcom, Digital River, Globalware Solutions, Ingram Micro, Integrated Manufacturing ▇olutions, Paramit Corp., Syntec Technologies, Inc. and any other bailee or warehouseman at which Borrower maintains any Collateral to SILICON VALLEY BANK CERTIFIED RESOLUTION AND INCUMBENCY CERTIFICATE -------------------------------------------------------------------------------- execute and deliver to Silicon, on Silicon's standard form (with such changes as shall be acceptable to Silicon in its discretion), a Notice to Bailee of Security Interest with respect to all Collateral maintained by Borrower at such bailee or warehouseman.

Bailee Agreements. None of the components of the Collateral shall be maintained at locations other than as provided in writing to Lender or as Borrowers have given Lender notice. In the event that any Borrower, after the date hereof, intends to store or otherwise deliver any portion of the Collateral to a bailee, then such Borrower will first receive the written consent of Lender and such bailee must execute and deliver a bailee agreement in form and substance satisfactory to Lender in its sole discretion.