Common use of Safekeeping of Inventory and Inventory Covenants Clause in Contracts

Safekeeping of Inventory and Inventory Covenants. Neither Agent nor any Lender shall be responsible for: (i) the safekeeping of the Inventory; (ii) any loss of or damage to the Inventory; (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. As between the Borrowers, Agent and Lenders, all risk of loss, damage, destruction or diminution in value of the Inventory shall be borne by Borrowers. No Inventory of a Borrower shall be, without Agent's prior written consent, at any time or times hereafter stored with a bailee, warehouseman, consignee or similar third party, other than warehousemen or bailees as to which such Borrower has notified Agent and which have signed an agreement in favor of Agent in form and substance satisfactory to Agent. No Borrower shall sell any of its Inventory on a xxxx-and-hold, guaranteed sale, sale-or-return, sale on approval or consignment basis or any other basis subject to a repurchase obligation or return right (except Permitted Consignments).

Safekeeping of Inventory and Inventory Covenants. Neither Agent nor any Lender and Lenders shall not be responsible for: (i) the safekeeping of the Inventory; (ii) any loss of or damage to the Inventory; , (iii) any diminution in the value of the Inventory; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency or any other Person. As between the Borrowers, Obligors and Agent and Lenders, all risk of loss, damage, destruction or diminution in value of the Inventory shall be borne by Borrowersthe Obligors. No Inventory of a Borrower shall be, without Agent's prior written consent, at any time or times hereafter stored with a bailee, warehouseman, consignee or similar third party, other than warehousemen or bailees except that QVC Inventory may be stored on consignment with QVC, Inc. in accordance with the terms of the QVC Agreement as to which such Borrower has notified Agent and which have signed an agreement in favor of Agent in form and substance satisfactory to Agenteffect on the Closing Date. No Borrower Obligor shall sell any of its Inventory on a xxxxbill-andxxx-hold, guaranteed sale, sale-or-return, sale on approval or consignment basis or any other basis subject to a repurchase obligation or return right (except Permitted Consignments)right, without Agent's prior written consent.