Delivery of Instruments and Certificated Securities. If any amount in excess of $100,000 payable under or in connection with any of the Collateral shall be or become evidenced by any Instrument or Certificated Security, such Instrument or Certificated Security shall, to the extent permitted under applicable Law, be promptly delivered to the Administrative Agent, duly indorsed in a manner satisfactory to the Administrative Agent, to be held as Collateral pursuant to this Agreement.
Appears in 3 contracts
Samples: Guaranty and Collateral Agreement (Furmanite Corp), Credit Agreement (Furmanite Corp), Guaranty and Collateral Agreement (Furmanite Corp)
Delivery of Instruments and Certificated Securities. If any an amount in excess of $100,000 50,000 shall become payable under or in connection with any of the Collateral and shall be or become evidenced by any Instrument or Certificated Security, such Instrument or Certificated Security shall, to the extent permitted under applicable Law, shall be promptly immediately delivered to the Administrative Agent, duly indorsed in a manner satisfactory to the Administrative Agent, to be held as Collateral pursuant to this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Inamed Corp), Guarantee and Collateral Agreement (Inamed Corp)
