Common use of Possession and Control Clause in Contracts

Possession and Control. (a) The name and address of each bailee, processor, warehouseman, consignee or other Person in possession of any of the Inventory or Equipment (each such Person being a "THIRD PARTY") on the date hereof, other than carriers and shippers of Inventory in transit in the ordinary course of Grantor's business, is set forth in ITEM A of SCHEDULE I hereto, together with the address of the location where such Inventory or Equipment is or may be held. Except as otherwise indicated in ITEM A of SCHEDULE I hereto, no Person (other than a Person identified in ITEM A of SCHEDULE I thereto as being a consignee) in possession of any of the Inventory or Equipment conducts a business at the location of such Inventory or Equipment other than a business in the nature of warehousing or transporting goods for others. In the event that any Inventory is in the possession of a Third Party, such Inventory is not evidenced by a negotiable instrument or document.

Possession and Control. (a) The name and address of each bailee, processor, warehouseman, consignee or other Person in possession of any of the Inventory or Equipment (each such Person being a "THIRD PARTYThird Party") on the date hereof, other than carriers and shippers of Inventory in transit in the ordinary course of Grantor's business, is set forth in ITEM A of SCHEDULE I hereto, together with the address of the location where such Inventory or Equipment is or may be held. Except as otherwise indicated in ITEM A of SCHEDULE I hereto, no Person (other than a Person identified in ITEM A of SCHEDULE I thereto as being a consignee) in possession of any of the Inventory or Equipment conducts a business at the location of such Inventory or Equipment other than a business in the nature of warehousing or transporting goods for others. In the event that any Inventory is in the possession of a Third Party, such Inventory is not evidenced by a negotiable instrument or document.