Common use of Third Parties in Possession of Collateral Clause in Contracts

Third Parties in Possession of Collateral. It shall not permit any third Person (including any warehouseman, bailee, agent, consignee or processor) to hold any Collateral, unless it shall: (a) notify such third Person of the security interests created hereby; (b) instruct such Person to hold all such Collateral for the Agent's account subject to the Agent's instructions; and (c) subject to Section 4.02, take all other actions the Agent reasonably deems necessary to perfect and protect its and such Debtor's interests in such Collateral pursuant to the requirements of the Uniform Commercial Code of the applicable jurisdiction where the warehouseman, bailee, consignee, agent, processor or other third Person is located (including the filing of a financing statement in the proper jurisdiction naming the applicable third Person as debtor and the Agent as secured party and notifying such third Person's secured lenders of its interest in such Collateral before such third Person receives possession of the Collateral in question).

Third Parties in Possession of Collateral. It Except as otherwise permitted by Section 4.2 and subject to Section 10.10 of the Credit Agreement, Debtor shall not permit any third Person (including any warehouseman, bailee, agent, consignee or processor) to hold any Collateral, unless it shall: (a) notify such third Person of the security interests created hereby; (b) instruct such Person to hold all such Collateral for the Agent's account subject to the Agent's instructions; and (c) subject to Section 4.024.2, take all other actions the Agent reasonably deems necessary to perfect and protect its and such the Debtor's interests in such Collateral pursuant to the requirements of the Uniform Commercial Code UCC of the applicable jurisdiction where the warehouseman, bailee, consignee, agent, processor or other third Person is located (including the filing of a financing statement in the proper jurisdiction naming the applicable third Person as debtor and the Agent it as secured party and notifying such the third Person's secured lenders of its interest in such Collateral before such the third Person receives possession of the Collateral in question).

Third Parties in Possession of Collateral. It The Debtors shall not permit any third Person (including any warehouseman, bailee, agent, consignee or processor) to hold any Collateral, unless it shall: (a) notify such third Person of the security interests created hereby; (b) instruct such Person to hold all such Collateral for the Agent's account subject to the Agent's instructions; and (c) subject to Section 4.02, take all other actions the Agent reasonably deems necessary to perfect and protect its and such Debtor's the Debtors' interests in such Collateral pursuant to the requirements of the Uniform Commercial Code of the applicable jurisdiction where the warehouseman, bailee, consignee, agent, processor or other third Person is located (including the filing of a financing statement in the proper jurisdiction naming the applicable third Person as debtor and the Agent it as secured party and notifying such the third Person's ' secured lenders of its interest in such Collateral before such the third Person receives possession of the Collateral in question).

Third Parties in Possession of Collateral. It Except as otherwise permitted by Section 4.2, Debtor shall not permit any third Person (including any warehouseman, bailee, agent, consignee or processor) to hold any CollateralCollateral (other than Collateral in transit, Collateral under repair, containers for the collection of raw materials held by customers in the ordinary course of business and other Collateral that has a book value in the aggregate which is less than $5,000,000), unless it shall: (a) notify such third Person of the security interests created hereby; (b) instruct such Person to hold all such Collateral for the Agent's ’s account subject to the Agent's ’s instructions; and (c) subject to Section 4.02, take all other actions the Agent reasonably deems necessary to perfect and protect its and such the Debtor's ’s interests in such Collateral pursuant to the requirements of the Uniform Commercial Code of the applicable jurisdiction where the warehouseman, bailee, consignee, agent, processor or other third Person is located (including including, in the case of a consignee, the filing of a financing statement in the proper jurisdiction naming the applicable third Person as debtor and the Agent it as secured party and notifying such the third Person's ’s secured lenders of its interest in such Collateral before such the third Person receives possession of the Collateral in question).

Third Parties in Possession of Collateral. It Except as otherwise permitted by Section 4.2, Debtor shall not permit any third Person (including any warehouseman, bailee, agent, consignee or processor) to hold any CollateralCollateral (other than Collateral in transit, Collateral under repair, containers for the collection of raw materials held by customers in the ordinary course of business and other Collateral that has a book value in the aggregate which is less than $1,000,000), unless it shall: (a) notify such third Person of the security interests created hereby; (b) instruct such Person to hold all such Collateral for the Agent's account subject to the Agent's instructions; and (c) subject to Section 4.02, take all other actions the Agent reasonably deems necessary to perfect and protect its and such the Debtor's interests in such Collateral pursuant to the requirements of the Uniform Commercial Code of the applicable jurisdiction where the warehouseman, bailee, consignee, agent, processor or other third Person is located (including including, in the case of a consignee, the filing of a financing statement in the proper jurisdiction naming the applicable third Person as debtor and the Agent it as secured party and notifying such the third Person's secured lenders of its interest in such Collateral before such the third Person receives possession of the Collateral in question).