Common use of Possessory Collateral Clause in Contracts

Possessory Collateral. Promptly, but in any event no later than ten (10) Business Days after any Loan Party’s receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including any Tangible Chattel Paper and any Investment Property consisting of certificated securities, but excluding (a) checks received in the ordinary course of business and (b) negotiable Collateral with a fair market value in each individual case in excess of $250,000 or in the aggregate in excess of $500,000, such Loan Party shall deliver the original thereof to Agent together with an appropriate endorsement or other specific evidence of assignment thereof to Agent (in form and substance reasonably acceptable to Agent). If an endorsement or assignment of any such items shall not be made for any reason, Agent is hereby irrevocably authorized, as attorney and agent-in-fact (coupled with an interest) for each Loan Party, to endorse or assign the same on such Loan Party’s behalf.

Possessory Collateral. Promptly, but in any event no later than ten five (105) Business Days after any Loan Party’s 's receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including any Tangible Chattel Paper and any Investment Property consisting of certificated securities, but excluding (a) checks received in the ordinary course of business and (b) negotiable Collateral with a fair market value in each individual case in excess of $250,000 or in the aggregate in excess of $500,000, such Loan Party shall deliver the original thereof to Agent together with an appropriate endorsement or other specific evidence of assignment thereof to Agent (in form and substance reasonably 314050368.12 acceptable to Agent). If an endorsement or assignment of any such items shall not be made for any reason, Agent is hereby irrevocably authorized, as attorney and agent-in-fact (coupled with an interest) for each Loan Party, to endorse or assign the same on such Loan Party’s 's behalf.

Possessory Collateral. Promptly, but in any event no later than ten (10) five Business Days after any Loan Party’s receipt of any portion of the Collateral evidenced by an agreement, Instrument Instrument, Document or Document, including any Tangible Chattel Paper and any Investment Property consisting Document of certificated securities, but excluding Title (aother than payment performance bonds or letters of credit supporting a Project issued on behalf of a third party in favor of a Loan Party) checks received in the ordinary course of business and (b) negotiable Collateral with a fair market value in each individual case in excess of $250,000 or in the aggregate in excess of $500,0001,000,000, such Loan Party shall notify Agent thereof, and upon request of Agent, deliver the original thereof to Agent together with an appropriate endorsement or other specific evidence of assignment thereof to Agent (in form and substance reasonably acceptable to Agent). If an endorsement or assignment of any such items shall not be made for any reason, Agent is hereby irrevocably authorized, as attorney and agent-in-fact (coupled with an interest) for each Loan Party, to endorse or assign the same on such Loan Party’s behalf.

Possessory Collateral. Promptly, but in any event no later than ten (10) Business Days days after any Loan Party’s 's receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including any Tangible Chattel Paper and any Investment Property consisting of certificated securities, but excluding (a) checks received in the ordinary course of business and (b) negotiable Collateral with a fair market value in each individual case in excess of $250,000 or in the aggregate in excess of $500,000750,000, such Loan Party shall deliver the original thereof to Agent together with an appropriate endorsement or other specific evidence of assignment thereof to Agent (in form and substance reasonably acceptable to Agent). If an endorsement or assignment of any such items shall not be made for any reason, Agent is hereby irrevocably authorized, as attorney and agent-in-fact (coupled with an interest) for each Loan Party, to endorse or assign the same on such Loan Party’s 's behalf.