Common use of Possession of Inventory, Control; etc Clause in Contracts

Possession of Inventory, Control; etc. Such Grantor (a) has exclusive possession and control, subject to Permitted Liens, of the Equipment and Inventory, and (b) is the sole entitlement holder of its Accounts and no other Person (other than the Administrative Agent pursuant to this Security Agreement or any other Person with respect to Permitted Liens) has “control” or “possession” of, or any other interest in, any of its Accounts or any other securities or property credited thereto except as permitted pursuant to this Security Agreement.

Appears in 3 contracts

Samples: Pledge and Security Agreement (Flotek Industries Inc/Cn/), Pledge and Security Agreement (Flotek Industries Inc/Cn/), Credit Agreement (Flotek Industries Inc/Cn/)

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Possession of Inventory, Control; etc. Such Grantor (a) has exclusive possession and control, subject to Permitted Liens, control of the its Equipment and Inventory, and (b) is the sole entitlement holder of its Accounts and no other Person (other than the Administrative Agent Collateral Trustee pursuant to this Security Agreement or any other Person with respect to Permitted Liens) has “control” or “possession” of, or any other interest in, any of its Accounts or any other securities or property credited thereto except as permitted pursuant to this Security Agreement.

Appears in 1 contract

Samples: Security Agreement (Energy XXI LTD)

Possession of Inventory, Control; etc. Such Grantor (a) has exclusive possession and control, subject to Permitted Liens, of the Equipment and Inventory, and (b) is the sole entitlement holder of its Accounts and no other Person (other than a Senior Collateral Agent (or, after Discharge of Senior Obligations, the Administrative Agent pursuant to this Security Agreement Collateral Agent) or any other Person with respect to Permitted Liens) has “control” or “possession” of, or any other interest in, any of its Accounts or any other securities or property credited thereto except as permitted pursuant to this Security Agreement.

Appears in 1 contract

Samples: Junior Lien Pledge and Security Agreement (Flotek Industries Inc/Cn/)

Possession of Inventory, Control; etc. Such Each Grantor (a) has exclusive possession and control, subject to Permitted Liens, control of the Equipment and Inventory, and (b) is the sole entitlement holder of its Accounts and no other Person (other than the Administrative Agent pursuant to this Security Agreement or any other Person with respect to Permitted Excepted Liens) has “control” or “possession” of, or any other interest in, any of its Accounts or any other securities or property credited thereto except as permitted pursuant to this Security Agreement.

Appears in 1 contract

Samples: Credit Agreement (Constellation Energy Partners LLC)

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Possession of Inventory, Control; etc. Such Grantor (a) has exclusive possession and control, subject to Permitted Liens, of the Equipment and InventoryInventory except as permitted under the Credit Agreement, and (b) is the sole entitlement holder of its Accounts Security Entitlements, and (c) no other Person (other than the Administrative Agent pursuant to this Security Agreement or any other Person with respect to Permitted Liens) has “control” or “possession” of, or any other interest in, any of its Accounts Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property or any other securities or property credited thereto except as permitted pursuant to this Security Agreement.

Appears in 1 contract

Samples: Master Assignment, Agreement, Amendment No. 1 and Waiver to Credit Agreement and Related Documents (Heckmann Corp)

Possession of Inventory, Control; etc. Such Grantor Grantor (a) has exclusive possession and control, subject to Permitted Liens, of the Equipment and InventoryInventory except as permitted under the Credit Documents, and (b) is the sole entitlement holder of its Accounts and no other Person person (other than the Administrative Agent pursuant to this Security Agreement or any other Person with respect to Permitted LiensLender) has “control” or “possession” of, or any other interest in, any of its Accounts or any other securities or property credited thereto except as permitted pursuant to this Security the Credit Documents, including a Control Agreement.

Appears in 1 contract

Samples: Security Agreement (Great Lakes Aviation LTD)

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