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

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 value of such Collateral at any location exceeds $5,000,000, then the Administrative Agent may request that the Obligor (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 best 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 is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor and the value of such Collateral at any location exceeds $5,000,000600,000, then the Administrative Agent may request that the Obligor (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 best 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 exceeding a value of $5,000,000 is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor and the value of such Collateral at any location exceeds $5,000,000, then the Administrative Agent may request that the Obligor 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 commercially reasonable best 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 exceeding a value of $5,000,000 is at any time in the possession or control of a warehouseman, bailee or any agent or processor of such Obligor and the value of such Collateral at any location exceeds $5,000,000, then the Administrative Agent may request that the Obligor 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 best efforts to obtain a written acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent.