Common use of Collateral Held by Warehouseman, Bailee, etc Clause in Contracts

Collateral Held by Warehouseman, Bailee, etc. Upon the occurrence of an Event of Default and during the continuance thereof, if any Collateral is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor, if the aggregate book value of all such Collateral exceeds $500,000, (i) notify the Administrative Agent of such possession, (ii) notify such Person of the Administrative Agent’s security interest for the benefit of the Lenders 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) 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. Upon the occurrence of an Event of Default and during the continuance thereof, if If any material Collateral is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor, if the aggregate book value of all such Collateral exceeds $500,000Obligor (other than as contemplated in Sections 4(b) and 4(h) hereof), (i) notify the Administrative Agent of such possession, (ii) if requested by the Administrative Agent, notify such Person of the Administrative Agent’s security interest for the benefit of the Lenders in such Collateral, (iii) if requested by the Administrative Agent, instruct such Person to hold all such Collateral for the Administrative Agent’s account subject to the Administrative Agent’s instructions and (iv) if requested by the Administrative Agent, use its best 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. Upon the occurrence of an Event of Default and during the continuance thereof, if If any Collateral with a value in excess of $1,000,000 is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor, if the aggregate book value of all such Collateral exceeds $500,000, (i) notify the Administrative Agent of such possession, (ii) upon the request of the Administrative Agent, notify such Person of the Administrative Agent’s security interest for the benefit of the Lenders Secured Parties in such Collateral, (iii) upon the request of the Administrative Agent, instruct such Person to hold all such Collateral for the Administrative Agent’s account subject to the Administrative Agent’s instructions and (iv) use its best efforts to upon the request of the Administrative Agent, 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. Upon In the occurrence case of an Event of Default and during the continuance thereof, if any Collateral is with an aggregate value equal to or greater than $100,000 that at any time is in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor, if Obligor and the aggregate book value of all such Collateral exceeds $500,000, Administrative Agent so reasonably requests (i) notify the Administrative Agent of such possessionpossession or control, (ii) notify such Person in writing of the Administrative Agent’s security interest for therein, and (iii) at the benefit reasonable request of the Lenders in such CollateralAdministrative Agent, (iiix) instruct such Person to hold all such Collateral for the Administrative Agent’s account and subject to the Administrative Agent’s instructions and (ivy) use its best commercially reasonable efforts to obtain an a written acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent.