Waivers; Collateral Access Agreements Clause Samples

Waivers; Collateral Access Agreements. At any time any Collateral (including any Inventory) with a book value in excess of $100,000 (when aggregated with all other Collateral at the same location) is located on any real property of a Loan Party (whether such real property is now existing or acquired after the Closing Date) which is not owned by a Loan Party, or is stored on the premises of a bailee, warehouseman, or similar party, use commercially reasonable efforts to obtain written subordinations or waivers or collateral access agreements, as the case may be, in form and substance reasonably satisfactory to the Agent (“Collateral Access Agreement”), except with respect to any such Collateral (including Inventory) that is located or stored at any location for a reasonably limited duration (not to exceed 30 consecutive days) solely for marketing purposes and Inventory in transit.