Common use of Possessory Collateral, Control Collateral and Controlling Authorized Representative as Gratuitous Bailee/Agent for Perfection Clause in Contracts

Possessory Collateral, Control Collateral and Controlling Authorized Representative as Gratuitous Bailee/Agent for Perfection. (a) The Possessory Collateral shall be delivered to the Controlling Authorized Representative to hold in its possession (or in the possession of its agents or bailees) as gratuitous bailee and/or gratuitous agent for the benefit of each other First-Priority Secured Party and any assignee solely for the purpose of perfecting the security interest granted in such Possessory Collateral, if any, pursuant to the applicable First-Priority Collateral Documents, in each case, subject to the terms and conditions of this Section 2.09.

Appears in 4 contracts

Samples: Security Agreement (Uber Technologies, Inc), Security Agreement (Uber Technologies, Inc), Intercreditor Agreement (Uber Technologies, Inc)

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