Common use of Collateral In Possession of Third Parties Clause in Contracts

Collateral In Possession of Third Parties. To the extent that any Collateral is in the possession of a third party, the Grantor will join with the Secured Parties in notifying the third party of the Secured Parties' security interest and in obtaining an acknowledgement from the third party that it is holding the Collateral for the benefit of the Secured Parties.

Collateral In Possession of Third Parties. To the extent that any Collateral is in the possession of a any third party, the party Grantor will shall join with the Secured Parties Party in notifying the such third party of the Secured Parties' Party’s security interest and in obtaining an acknowledgement from the third party that it is holding the Collateral for the benefit of the Secured Partiesinterest.

Collateral In Possession of Third Parties. To the extent that any Collateral is in the possession of a third party, the Grantor will join with the Secured Parties Collateral Agent in notifying the third party of the security interest in favor of the Collateral Agent (for the benefit of the Secured Parties' security interest ) and in obtaining an acknowledgement from the third party that it is holding the Collateral for the Collateral Agent (for the benefit of the Secured Parties).