Common use of Perfection of Junior Trust Estate Clause in Contracts

Perfection of Junior Trust Estate. Solely for purposes of perfecting the Lien of the Collateral Agent in its capacity as agent of the Parity Lien Secured Parties in any portion of the Junior Trust Estate consisting of any instruments, goods, negotiable documents, tangible chattel paper or certificated securities in the possession of the Collateral Agent as part of the Senior Trust Estate, the Priority Lien Secured Parties hereby acknowledge that the Collateral Agent also holds such instruments, goods, negotiable documents, tangible chattel paper and certificated securities as bailee for the benefit of the Collateral Agent for the benefit of the Parity Lien Secured Parties.

Perfection of Junior Trust Estate. Solely for purposes of perfecting the Lien security interest of the Collateral Agent Trustee in its capacity as agent of the Parity Lien Secured Parties in any portion of the Junior Trust Estate consisting of any instruments, goods, negotiable documents, tangible chattel paper or certificated securities in the possession of the Collateral Agent Trustee as part of the Senior Trust Estate, the Priority Lien Secured Parties hereby acknowledge that the Collateral Agent Trustee also holds such instruments, goods, negotiable documents, tangible chattel paper and certificated securities as bailee for the benefit of the Collateral Agent Trustee for the benefit of the Parity Lien Secured Parties.