Common use of Landlord Waivers; Collateral Access Agreements Clause in Contracts

Landlord Waivers; Collateral Access Agreements. Unless otherwise waived by the Collateral Agent in its sole discretion, at any time any Collateral with a book value in excess of $500,000 (when aggregated with all other Collateral at the same location) is located on any real property of a Loan Party (whether such real property is now existing or acquired after the Effective Date) which is not owned by a Loan Party, or is stored on the premises of a bailee, warehouseman, or similar party, use commercially reasonable efforts to obtain written subordinations or waivers or collateral access agreements, as the case may be, in form and substance satisfactory to the Collateral Agent.

Landlord Waivers; Collateral Access Agreements. Unless otherwise waived by the Collateral Agent in its sole discretionSubject to Section 5.03, at any time (i) any Collateral with a book value in excess of $500,000 250,000 (when aggregated with all other Collateral at the same location), or (ii) any books and records related to any Collateral, is located on any real property of a Loan Party (whether such real property is now existing or acquired after the Effective Date) which is not owned by a Loan Party, or is stored on the premises of a bailee, warehouseman, or similar party, use commercially reasonable efforts to obtain written subordinations or waivers or collateral access agreements, as the case may be, in form and substance reasonably satisfactory to the Collateral AgentAgents.