Common use of Landlord Waivers; Bailee Waivers Clause in Contracts

Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its Subsidiaries that are Loan Parties, after the Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral constituting of the books and records of the Borrower or any of its Subsidiaries or having an aggregate book value in excess of Two Hundred Fifty Thousand Dollars ($250,000.00) (other than at storage facilities or withcontract manufacturers or at clinical sites, in which case the Collateral must comprise only of non-commercial clinical compounds), or deliver any portion of the Collateral to, a bailee, in each case pursuant to Section 7.2, then Borrower or such Loan Party will first receive the written consent of Collateral Agent and, in the event that the new location is the chief executive office of the Borrower or such Loan Party or the Collateral at any such new location is valued in excess of exceed Two Hundred Fifty Thousand Dollars in the aggregate or constituting of the books and records of the Borrower or any Loan Party, such bailee or landlord, as applicable, must execute and deliver a bailee waiver or landlord waiver, as applicable, in form and substance reasonably satisfactory to Collateral Agent prior to the addition of any new offices or business locations, or any such storage with or delivery to any such bailee, as the case may be.

Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its Subsidiaries that are Loan PartiesSubsidiaries, after the Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral constituting of the books and records of the Borrower or any of its Subsidiaries or having an aggregate book value in excess of Two Hundred Fifty Thousand Dollars ($250,000.00) (other than at storage facilities or withcontract manufacturers or at clinical sites, in which case the Collateral must comprise only of non-commercial clinical compounds)with, or deliver any portion of the Collateral to, a bailee, in each case pursuant to Section 7.2, then Borrower or such Loan Party Subsidiary will first receive the written consent of Collateral Agent (unless the new location is not the chief executive office of Borrower or such Subsidiary or the Collateral at such new location is not valued in excess of Two Hundred Fifty Thousand ($250,000.00) in the aggregate, and then Borrower or such Subsidiary shall only be required to provide Collateral Agent with written notice of such new location with thirty (30) days of the addition of such new location as an office or business location) and, in the event that the new location is the chief executive office of the Borrower or such Loan Party Subsidiary or the Collateral at any such new location is valued in excess of exceed Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate or constituting of the books and records of the Borrower or any Loan Partyaggregate, such bailee or landlord, as applicable, must execute and deliver a bailee waiver or landlord waiver, as applicable, in form and substance reasonably satisfactory to Collateral Agent prior to the addition of any new offices or business locations, or any such storage with or delivery to any such bailee, as the case may be.