Collateral Held by Warehouseman, Bailee, etc. If any Collateral is at any time in the possession or control of a warehouseman, bailee, agent or processor of such Grantor, (i) notify the Administrative Agent of such possession or control, (ii) notify such Person of the Administrative Agent’s security interest in such Collateral, (iii) instruct such Person to hold all such Collateral for the Administrative Agent’s account and subject to the Administrative Agent’s instructions and (iv) use commercially reasonable efforts to obtain an acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent.
Collateral Held by Warehouseman, Bailee, etc. If any Collateral with a value equal to or greater than Three Million Dollars ($3,000,000) is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor and the Administrative Agent so requests (i) notify such Person in writing of the Administrative Agent’s security interest therein, (ii) instruct such Person to hold all such Collateral for the Administrative Agent’s account and subject to the Administrative Agent’s instructions and (iii) use reasonable efforts to obtain a written acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent.
Collateral Held by Warehouseman, Bailee, etc. If any Collateral with a book value of $1,000,000 or more is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor, (i) notify the Administrative Agent of such possession, (ii) notify such Person of the Administrative Agent’s security interest for the benefit of the Secured Parties in such Collateral, (iii) instruct such Person to hold all such Collateral for the Administrative Agent’s account subject to the Administrative Agent’s instructions and (iv) obtain an acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent.
Collateral Held by Warehouseman, Bailee, etc. If requested by the Administrative Agent, if any material amount of Collateral is at any time in the possession or control of a warehouseman, bailee, agent or processor of such Grantor, (i) notify the Administrative Agent of such possession or control, (ii) notify such Person of the Administrative Agent’s security interest in such Collateral, (iii) instruct such Person to hold all such Collateral for the Administrative Agent’s account and subject to the Administrative Agent’s instructions and (iv) use its best efforts to obtain an acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent.
Collateral Held by Warehouseman, Bailee, etc. If any Collateral is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor and the Lender so requests (i) notify such Person in writing of the Lender’s security interest therein, (ii) instruct such Person to hold all such Collateral for the Lender’s account and subject to the Lender’s instructions and (iii) use reasonable best efforts to obtain a written acknowledgment from such Person that it is holding such Collateral for the benefit of the Lender.
Collateral Held by Warehouseman, Bailee, etc. If any Collateral exceeding an aggregate value of $500,000 is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor (except if under repair or refurbishment), notify the Administrative Agent of such possession and, upon the Administrative Agent’s reasonable request, notify such Person of the Administrative Agent’s security interest for the benefit of the Lenders in such Collateral and instruct such Person to hold all such Collateral for the Administrative Agent’s account subject to the Administrative Agent’s instructions, and obtain from such Person a written acknowledgement of the Administrative Agent’s security interest therein, in form and substance reasonably satisfactory to the Administrative Agent;
Collateral Held by Warehouseman, Bailee, etc. If any Collateral in excess of $100,000 in the aggregate is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor and the Collateral Agent so requests (i) notify such Person in writing of the Collateral Agent’s security interest therein, (ii) instruct such Person to hold all such Collateral for the Collateral Agent’s account and subject to the Collateral Agent’s instructions and (iii) use reasonable best efforts to obtain a written acknowledgment from such Person that it is holding such Collateral for the benefit of the Collateral Agent.
Collateral Held by Warehouseman, Bailee, etc. (i) If any Collateral is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Grantor (A) notify the Secured Party of such possession, (B) notify such Person in writing of the Secured Party’s security interest for the benefit of the Secured Parties in such Collateral, (C) instruct such Person to hold all such Collateral for the Secured Party’s account and subject to the Secured Party’s instructions and (D) unless otherwise consented to in writing by the Secured Party, obtain (1) a written acknowledgment from such Person that it is holding such Collateral for the benefit of the Secured Party and (2) such other documentation required by the Secured Party (including, without limitation, subordination and access agreements).
Collateral Held by Warehouseman, Bailee, etc. If any Inventory which is purchased by Reseller pursuant to the Aggregate Floorplan Loan Facility or Interim Floorplan Loan Facility with a value in excess of $500,000 for each location is at any time in the possession or control of a warehouseman, bailee or any of Reseller’s agents or processors (not including any lessee or other person to whom Inventory is leased or rented in the ordinary course of such Covered Person’s business), then Reseller shall notify Administrative Agents thereof and shall notify such Person of Collateral Agent’s Security Interest for the benefit of Lenders in such Collateral and, upon Administrative Agents’ request, instruct such Person to hold all such Collateral for Collateral Agent’s account subject to Administrative Agents’ instructions. If at any time any Inventory which is purchased by Reseller pursuant to the Aggregate Floorplan Loan Facility or Interim Floorplan Loan Facility with a value in excess of $500,000 for each location is located on any premises that are not owned by Reseller (not including any lessee or other person to whom Inventory is leased or rented in the ordinary course of such Covered Person’s business, or other locations where Reseller is not obligated to pay rent for up to 30 consecutive days) then Reseller shall obtain or cause to be obtained written waivers or consents, satisfactory to Administrative Agents, of all present and future Security Interests to which the owner or lessor or any mortgagee of such premises may be entitled to assert against the Collateral.
Collateral Held by Warehouseman, Bailee, etc. (i) Upon the request of the Administrative Agent, if any Collateral is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Grantor and the Administrative Agent so requests, (A) notify such Person in writing of the Administrative Agent’s security interest for the benefit of the Secured Parties in such Collateral, (B) instruct such Person to hold all such Collateral for the Administrative Agent’s account and subject to the Administrative Agent’s instructions and (C) unless otherwise consented to in writing by the Administrative Agent, obtain (1) a written acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent and (2) such other documentation required by the Administrative Agent (including, without limitation, subordination and access agreements).
