Common use of Delivery of Instruments, etc Clause in Contracts

Delivery of Instruments, etc. Such U.S. Loan Party will promptly deliver each Instrument that constitutes Collateral (other than (i) promissory notes having individually a face value not in excess of $1,000,000, (ii) Cash Equivalents held in a Deposit Account or a Securities Account and subject to an effective Account Control Agreement as required by Section 4.12 hereof and (iii) Instruments received in connection with bankruptcy or reorganization of suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers in the ordinary course of business having individually a face amount of less than $1,000,000 in the case of Instruments subject to this clause (iii) (the Instruments described in clauses (i), (ii) and (iii) above constituting “Excepted Instruments”)) to the Collateral Agent, appropriately indorsed to the Collateral Agent; provided that so long as no Event of Default shall have occurred and be continuing, and except as required by any other Loan Document, such U.S. Loan Party may (unless otherwise provided in Section 2.04(b) or (c)) retain for collection in the ordinary course of business any checks, drafts and other Instruments received by it in the ordinary course of business, and the Collateral Agent shall, promptly upon request of such U.S. Loan Party, make appropriate arrangements reasonably satisfactory to such U.S. Loan Party for making any other Instrument pledged by such U.S. Loan Party available to it for purposes of presentation, collection or renewal.

Delivery of Instruments, etc. Such U.S. Loan Party will promptly immediately deliver each Instrument that constitutes Collateral and each Certificated Security (other than (i) promissory notes having individually a face value not in excess of $1,000,0002,500,000, (ii) Cash Equivalents held in a Deposit Account or a Securities Account and subject to an effective Account Control Agreement as required by Section 4.12 hereof and (iii) Instruments or Certificated Securities received in connection with bankruptcy or reorganization of suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers in the ordinary course of business having individually a face amount of less than $1,000,000 2,500,000 in the case of Instruments or Certificated Securities subject to this clause (iii) (the Instruments and Certificated Securities described in clauses (i), (ii) and (iii) above constituting “Excepted Instruments”)) to the Collateral Agent, appropriately indorsed to the Collateral Agent; provided that so long as no Event of Default shall have occurred and be continuing, and except as required by any other Loan Document, such U.S. Loan Party may (unless otherwise provided in Section 2.04(b) or (c)) retain for collection in the ordinary course of business any checks, drafts and other Instruments received by it in the ordinary course of business, and the Collateral Agent shall, promptly upon request of such U.S. Loan Party, make appropriate arrangements reasonably satisfactory to such U.S. Loan Party for making any other Instrument or Certificated Security pledged by such U.S. Loan Party available to it for purposes of presentation, collection or renewalrenewal (any such arrangement to be effected, to the extent deemed appropriate to the Collateral Agent, against a trust receipt or like document).