Common use of Landlord Waivers; Bailee Waivers Clause in Contracts

Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its Subsidiaries, after the Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral with, or deliver any portion of the Collateral to, a bailee, in each case pursuant to Section 7.2, then Borrower or such Subsidiary will provide written notice thereof to Collateral Agent and, in the event that the new location is the chief executive office of the Borrower or such Subsidiary or the Collateral at any such new location is valued in excess of Five Hundred Thousand Dollars ($500,000.00) in the aggregate, 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; provided, that, in accordance with this Section 6.11 and with respect to any offices or business locations located in a foreign jurisdiction, where Borrower or any its Subsidiaries (including Foreign Subsidiaries) store any portion of the Collateral, Borrower or any its Subsidiaries shall deliver and execute a bailee waiver or landlord waiver, as applicable, in form and substance reasonably satisfactory to Collateral Agent, to the extent such bailee waiver or landlord waiver is accepted and recognized in such foreign jurisdiction.

Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its Subsidiaries, after the Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral with, or deliver any portion of the Collateral to, a bailee, in each case pursuant to Section 7.2, then Borrower or such Subsidiary will provide first receive the written notice thereof to consent of Collateral Agent and, in the event that the new location is the chief executive office of the Borrower or such Subsidiary or the Collateral at any such new location is valued in excess of Five One Hundred Fifty Thousand Dollars ($500,000.00150,000.00) in the aggregate, 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; provided, thathowever, that in accordance with this Section 6.11 and with respect to any offices or business locations located in a foreign jurisdiction, where no event may Borrower or any its Subsidiaries (including Foreign Subsidiariesi) store any portion of the Collateral, Collateral having a value in excess of One Hundred Fifty Thousand ($150,000.00) in the aggregate at any single location for which Borrower or any its Subsidiaries shall deliver and execute has not delivered a bailee waiver or landlord waiverwaiver as provided herein, as applicable, or (ii) store any portion of the Collateral having a value in form and substance reasonably satisfactory to Collateral Agent, to excess of Two Hundred Fifty Thousand Dollars ($250,000.00) in the extent such aggregate at locations for which the Borrower has not delivered a bailee waiver or landlord waiver is accepted and recognized in such foreign jurisdictionas herein provided.

Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its Subsidiaries, after the Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral with, or deliver any portion of the Collateral (except for (i) Borrower’s Light Delivery Devices (LDDs) temporarily at distribution warehouses described in the Perfection Certificate, (ii) Collateral in aggregate book value not exceeding One Million Dollars ($1,000,000.00) at any time consisting of movable items of personal property such as laptop computers, or (iii) inventory at ambulatory surgery centers, sterilizers or freight company depots in the ordinary course of business) to, a baileebailee (regardless of whether such office, business location, or warehouse is a new or existing office, business location or warehouse), in each case pursuant to Section 7.2, then Borrower or such Subsidiary will provide first receive the written notice thereof to consent of Collateral Agent and, in the event that the new location is the chief executive office of the Borrower or such Subsidiary or the Collateral at any such new location is valued in excess of Five Hundred Thousand Dollars ($500,000.00) in the aggregateaggregate book value, 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 such new offices or business locations, or any such storage with or delivery to any such bailee, as the case may be; provided, that, in accordance with this Section 6.11 and with respect to any offices or business locations located in a foreign jurisdiction, where Borrower or any its Subsidiaries (including Foreign Subsidiaries) store any portion of the Collateral, Borrower or any its Subsidiaries shall deliver and execute a bailee waiver or landlord waiver, as applicable, in form and substance reasonably satisfactory to Collateral Agent, to the extent such bailee waiver or landlord waiver is accepted and recognized in such foreign jurisdiction.

Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its Subsidiaries, after the Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral with, or deliver any portion of the Collateral to, a bailee, in each case pursuant to Section 7.2, then Borrower or such Subsidiary will provide first receive the written notice thereof to consent of Collateral Agent and, in the event that the new location is the chief executive office of the Borrower or such Subsidiary or the Collateral at any such new location is valued in excess of Five Two Hundred Fifty Thousand Dollars ($500,000.00250,000.00) in the aggregate, 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; provided, thathowever, that in accordance with this Section 6.11 and with respect to any offices or business locations located in a foreign jurisdiction, where no event may Borrower or any its Subsidiaries (including Foreign Subsidiariesi) store any portion of the Collateral, Collateral having a value in excess of Two Hundred Fifty Thousand ($250,000.00) in the aggregate at any single location for which Borrower or any its Subsidiaries shall deliver and execute has not delivered a bailee waiver or landlord waiverwaiver as provided herein, as applicable, or (ii) store any portion of the Collateral having a value in form and substance reasonably satisfactory to Collateral Agent, to excess of Five Hundred Thousand Dollars ($500,000.00) in the extent such aggregate at locations for which the Borrower has not delivered a bailee waiver or landlord waiver is accepted and recognized in such foreign jurisdictionas herein provided.

Landlord Waivers; Bailee Waivers. In the event that Borrower or any of its domestic U.S. Subsidiaries, after the Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral with, or deliver any portion of the Collateral to, a bailee, in each case pursuant to Section 7.2, then Borrower or such Subsidiary will provide written notice thereof to first notify the Collateral Agent and, in the event that the new location is the chief executive office of the Borrower or such Subsidiary or the Collateral at any such new location is valued in excess of Five Hundred Thousand Dollars ($500,000.00) in the aggregate, or includes the books and records of Borrower or any of its Subsidiaries, 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; provided, that, in accordance with this Section 6.11 and with respect to any offices or business locations located in a foreign jurisdiction, where Borrower or any its Subsidiaries (including Foreign Subsidiaries) store any portion of . Without limiting the Collateralforegoing, Borrower or any its Subsidiaries shall use commercially reasonably efforts to deliver and execute a bailee waiver or landlord waiver, as applicable, in form and substance reasonably satisfactory to Collateral Agent, with respect to the extent any location with respect to which Collateral at such bailee waiver or landlord waiver location is accepted valued between Two Hundred Fifty Thousand Dollars ($250,000.00) and recognized in such foreign jurisdictionFive Hundred Thousand ($500,000.00).