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

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 any Collateral with a book value in excess of $1,000,000 or more 5,000,000 is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor, Obligor and the Administrative Agent so reasonably requests (i) notify the Administrative Agent of such possession, (ii) notify such Person in writing of the Administrative Agent’s security interest for the benefit of the Secured Parties in such Collateraltherein, (iiiii) instruct such Person to hold all such Collateral for the Administrative Agent’s account and subject to the Administrative Agent’s instructions and (iviii) use 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.

Collateral Held by Warehouseman, Bailee, etc. If any Collateral of such Obligor with a book value in excess 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 Obligorand the Administrative Agent so requests, (i) notify the Administrative Agent of such possession, (ii) notify such Person in writing of the Administrative Agent’s security interest for the benefit of the Secured Parties in such Collateraltherein, (iiiii) instruct such Person to hold all such Collateral for the Administrative Agent’s account and subject to the Administrative Agent’s instructions instructions, and (iviii) use 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.

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 '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 's account subject to the Administrative Agent’s '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 any Collateral with a book value Collateral, in excess of $1,000,000 or more 500,000 is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor, (i) upon the request of the Administrative Agent, 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) 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) obtain an acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent.