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, and, in the event that the Collateral at any new location (other than Collateral (i) at customer locations, (ii) locations listed on the Perfection Certificate on the Effective Date, or (iii) at clinical sites) is valued in excess of Fifty Thousand Dollars ($50,000.00) in the aggregate, at Collateral Agent’s election, 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, 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 first provide written notice 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 (other than Collateral (i) at customer locations, (ii) locations listed on the Perfection Certificate on the Effective Date, or (iii) at clinical sites) is valued in excess of Two Hundred Fifty Thousand Dollars ($50,000.00250,000.00) in the aggregate, at Collateral Agent’s election, 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 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 first notify, no later than twenty (20) days prior to moving into such new location, the Collateral Agent and, in the event that the Collateral at any new location (other than Collateral (i) at customer locations, (ii) locations listed on the Perfection Certificate on the Effective Date, or (iii) at clinical sites) is valued in excess of Fifty Five Hundred Thousand Dollars ($50,000.00500,000.00) in the aggregate, at Collateral Agent’s election, 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 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 first notify the Collateral Agent and, in the event that the Collateral at any new location (other than Collateral (i) at customer locations, (ii) locations listed on the Perfection Certificate on the Effective Date, or (iii) at clinical sites) is valued (or is reasonably expected to have value) in excess of Two Hundred Fifty Thousand Dollars ($50,000.00250,000.00) in the aggregate, at (a) obtain the written consent of the Collateral Agent’s election, Agent and (b) cause such bailee or landlord, as applicable, must to 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 of 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 Subsidiariesother Loan Party, 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 Loan Party 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 Loan Party or the Collateral at any such new location (other than Collateral (i) at customer locations, (ii) locations listed on the Perfection Certificate on the Effective Date, or (iii) at clinical sites) is valued in excess of Two Hundred Fifty Thousand Dollars ($50,000.00250,000.00) in the aggregate, at Collateral Agent’s election, 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 SubsidiariesSubsidiaries (other than any Excluded Foreign Subsidiary), 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 first provide not less than thirty (30) days prior written notice to Collateral Agent and, in the event that the Collateral at any new location (other than Collateral (i) at customer locations, (ii) locations listed on the Perfection Certificate on the Effective Date, or (iii) at clinical sites) is valued in excess of Two Hundred Fifty Thousand Dollars ($50,000.00250,000.00) in the aggregate, at Collateral Agent’s election, 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, 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, other than with respect to a Placement Location, Borrower or such Subsidiary will first receive the written consent of Collateral Agent and, in the event that the Collateral at any new location (other than Collateral (i) at customer locations, (ii) locations listed on the Perfection Certificate on the Effective Date, or (iii) at clinical sites) is valued in excess of Two Hundred Fifty Thousand Dollars ($50,000.00250,000.00) in the aggregate, at Collateral Agent’s election, such bailee or landlord, as applicable, if requested by Collateral Agent, 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.