Common use of Possession or Control of Certain Collateral Clause in Contracts

Possession or Control of Certain Collateral. If (i) any amount payable under or in connection with any of the Collateral shall be or become evidenced by any Instrument, Tangible Chattel Paper or Supporting Obligation or (ii) if any Collateral shall be stored or shipped subject to a Document or (iii) if any Collateral shall consist of Investment Property in the form of certificated securities, in the case of either clause (i) or (ii), in an amount of $50,000 or more, immediately notify the Administrative Agent of the existence of such Collateral and, upon the request of the Administrative Agent, deliver such Instrument, Chattel Paper, Supporting Obligation, Document or Investment Property to the Administrative Agent, duly endorsed in a manner satisfactory to the Administrative Agent, to be held as Collateral pursuant to this Security Agreement. If any Collateral shall consist of Deposit Accounts, Electronic Chattel Paper, Letter-of-Credit Rights or uncertificated Investment Property, execute and deliver (and, with respect to any Collateral consisting of uncertificated Security Entitlements or Investment Property, cause the Securities Intermediary or the issuer, as applicable, with respect to such Investment Property to execute and deliver) to the Administrative Agent all control agreements, assignments, instruments or other documents as reasonably requested by the Administrative Agent for the purposes of obtaining and maintaining Control of such Collateral.

Appears in 3 contracts

Samples: Security Agreement (Pantry Inc), Security Agreement (Pantry Inc), Security Agreement (Pantry Inc)

AutoNDA by SimpleDocs

Possession or Control of Certain Collateral. If (i) any amount payable under or in connection with any of the Collateral in excess of $500,000 shall be or become evidenced by any Instrument, Tangible Chattel Paper or Supporting Obligation or (ii) if any Collateral shall be stored or shipped subject to a Document or (iii) if any Collateral in excess of $500,000 shall consist of Investment Property in the form of certificated securities, securities (other than Cash Equivalents held in accordance with the case of either clause (i) or (iiCredit Agreement), in an amount of $50,000 or more, immediately promptly notify the Administrative Agent of the existence of such Collateral and, upon at the reasonable request of the Administrative Agent, deliver such Instrument, Chattel Paper, Supporting Obligation, Document or Investment Property to the Administrative Agent, duly endorsed in a manner satisfactory to the Administrative Agent, Agent to be held as Collateral pursuant to this Security Agreement. If any Collateral shall consist of Material Deposit AccountsAccounts (subject to Section 5.14 of the Credit Agreement), Material Electronic Chattel Paper, Material Letter-of-Credit Rights or Material uncertificated Investment Property, promptly execute and deliver (and, with respect to any Collateral consisting of uncertificated Security Entitlements or Investment Property, cause the issuer or Securities Intermediary or the issuer, as applicable, with respect to such Investment Property to execute and deliver) to the Administrative Agent all control agreements, assignments, instruments or other documents as reasonably requested by the Administrative Agent for the purposes of obtaining and maintaining Control of such Collateral.;

Appears in 3 contracts

Samples: Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc)

Possession or Control of Certain Collateral. If (i) any amount payable under or in connection with any of the Collateral in excess of $500,000 shall be or become evidenced by any Instrument, Tangible Chattel Paper or Supporting Obligation or (ii) if any Collateral shall be stored or shipped subject to a Document or (iii) if any Collateral in excess of $500,000 shall consist of Investment Property in the form of certificated securities, securities (other than Cash Equivalents held in accordance with the case of either clause (i) or (iiCredit Agreement), in an amount of $50,000 or more, immediately promptly notify the Administrative Agent of the existence of such Collateral and, upon at the reasonable request of the Administrative Agent, deliver such Instrument, Chattel Paper, Supporting Obligation, Document or Investment Property to the Administrative Agent, duly endorsed in a manner satisfactory to the Administrative Agent, Agent to be held as Collateral pursuant to this Security Agreement. If any Collateral shall consist of Material Deposit Accounts, Material Electronic Chattel Paper, Material Letter-of-Credit Rights or Material uncertificated Investment Property, promptly execute and deliver (and, with respect to any Collateral consisting of uncertificated Security Entitlements or Investment Property, cause the issuer or Securities Intermediary or the issuer, as applicable, with respect to such Investment Property to execute and deliver) to the Administrative Agent all control agreements, assignments, instruments or other documents as reasonably requested by the Administrative Agent for the purposes of obtaining and maintaining Control of such Collateral.;

Appears in 2 contracts

Samples: Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc)

Possession or Control of Certain Collateral. If (i) any amount payable under or in connection with any of the Collateral in excess of $500,000 shall be or become evidenced by any Instrument, Tangible Chattel Paper or Supporting Obligation or (ii) if any Collateral shall be stored or shipped subject to a Document or (iii) if any Collateral in excess of $500,000 shall consist of Investment Property in the form of certificated securities, securities (other than Cash Equivalents held in accordance with the case of either clause (i) or (iiCredit Agreement), in an amount of $50,000 or more, immediately promptly notify the Administrative Agent of the existence of such Collateral and, upon at the reasonable request of the Administrative Agent, deliver such Instrument, Chattel Paper, Supporting Obligation, Document or Investment Property to the Administrative Agent, duly endorsed in a manner satisfactory to the Administrative Agent, Agent to be held as Collateral pursuant to this Security Agreement. If any Collateral shall consist of Material Deposit Accounts, Material Electronic Chattel Paper, Material Letter-of-Credit Rights or Material uncertificated Investment Property, promptly execute and deliver (and, with respect to any Collateral consisting of uncertificated Security Entitlements or Investment Property, cause the issuer or Securities Intermediary or the issuer, as applicable, with respect to such Investment Property to execute and deliver) to the Administrative Agent all control agreements, assignments, instruments or other documents as reasonably requested by the Administrative Agent for the purposes of obtaining and maintaining Control of such Collateral.

Appears in 2 contracts

Samples: Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc)

AutoNDA by SimpleDocs

Possession or Control of Certain Collateral. If (i) any amount payable under or in connection with any of the Collateral shall be or become evidenced by any Instrument, Tangible Chattel Paper or Supporting Obligation or (ii) if any Collateral shall be stored or shipped subject to a Document or (iii) if any Collateral shall consist of Investment Property in the form of certificated securities, in the case of either clause (i) or (ii), in an amount of $50,000 or more, immediately notify the Administrative Agent of the existence of such Collateral and, upon at the request of the Administrative Agent, deliver such Instrument, Chattel Paper, Supporting Obligation, Document or Investment Property to the Administrative Agent, duly endorsed in a manner satisfactory to the Administrative Agent, to be held as Collateral pursuant to this Security Agreement. If any Collateral shall consist of Deposit Accounts, Electronic Chattel Paper, Letter-of-Credit Rights or uncertificated Investment Property, execute and deliver (and, with respect to any Collateral consisting of uncertificated Security Entitlements or Investment Property, cause the Securities Intermediary or the issuer, as applicable, with respect to such Investment Property to execute and deliver) to the Administrative Agent Agent, upon the Administrative Agent’s request, all control agreements, assignments, instruments or other documents as reasonably requested by the Administrative Agent for the purposes of obtaining and maintaining Control of such Collateral.

Appears in 1 contract

Samples: Master Financing Agreement (Zap)

Possession or Control of Certain Collateral. If (i) any amount in excess of $100,000 payable under or in connection with any of the Collateral shall be or become evidenced by any Instrument, Tangible Chattel Paper or Supporting Obligation or (ii) if any Collateral shall be stored or shipped subject to a Document or (iii) if any Collateral shall consist of Investment Property in the form of certificated securities, in the case of either clause (i) or (ii), in an amount of $50,000 or more, immediately notify the Administrative Agent of the existence of such Collateral and, upon at the request of the Administrative Agent, deliver such Instrument, Chattel Paper, Supporting Obligation, Document or Investment Property to the Administrative Agent, duly endorsed in a manner satisfactory to the Administrative Agent (or, with respect to certificated securities, provide duly executed blank stock powers in such form as may be reasonably requested by the Agent), to be held as Collateral pursuant to this Security Agreement. If any Collateral shall consist of Deposit Accounts, Electronic Chattel PaperPaper in electronic form, Letter-of-Credit Rights or uncertificated Investment Property, execute and deliver (and, with respect to any Collateral consisting of uncertificated Security Entitlements or Investment Property, cause the Securities Intermediary or the issuer, as applicable, Commodities Intermediary with respect to such Investment Property to execute and deliver) to the Administrative Agent all control agreements, assignments, instruments or other documents as reasonably requested by the Administrative Agent for the purposes of obtaining and maintaining Control of such Collateral.

Appears in 1 contract

Samples: Security Agreement (Unifi Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!