Bailee definition

Bailee means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Bailee means a person that by a warehouse receipt, bill of

Bailee. With respect to any Transaction involving a Wet Mortgage Asset, (i) a national title insurance company or Sidley Austin LLP, or (ii) any other entity approved by Buyer, which may be a title company, escrow company or attorney in accordance with local law and practice in the appropriate jurisdiction of the related Wet Mortgage Asset.

Examples of Bailee in a sentence

• If a Purchased Asset File is not delivered to Buyer or its designee (including the Custodian or Bailee, as applicable), such Purchased Asset File shall be held in trust by Seller or its designee for the benefit of Buyer as the owner thereof.

• If a Purchased Asset becomes evidenced by an instrument or chattel paper, the same shall be immediately delivered to Buyer or to Custodian or Bailee, as applicable, on behalf of Buyer, together with endorsements required by B▇▇▇▇.

• Except to the extent disclosed in a Requested Exceptions Report approved by Buyer in writing, Seller or its designee is in possession of a complete, true and accurate Purchased Asset File with respect to each Purchased Asset, except for such documents the originals of which have been delivered to the Custodian or Bailee, as applicable.

• Buyer shall deposit the Purchased Asset Files representing the Purchased Assets, or direct that the Purchased Asset Files be deposited directly, with the Custodian or Bailee, as applicable, and the Purchased Asset Files shall be maintained in accordance with the Custodial Agreement or Bailee Letter, as applicable.

• Seller or its designee (including the Custodian or Bailee, as applicable) shall release its custody of the Purchased Asset File only in accordance with written instructions from Buyer, unless such release is required as incidental to the servicing of the Purchased Assets, is in connection with a repurchase of any Purchased Asset by Seller or as otherwise required by law or set forth in the Custodial Agreement or the Bailee Letter, as applicable.

More Definitions of Bailee

Bailee means a person that by a warehouse receipt, bill of lading, or other document

Bailee means such third party as Buyer and Seller shall mutually approve in their sole discretion.

Bailee means the a person who that by a warehouse receipt, bill of lading, or other document of the title acknowledges possession of goods and contracts to deliver them.

Bailee means a person that by a warehouse

Bailee means a person to whom an agricultural commodity is delivered in trust for storage in a warehouse with title remaining in the name of the depositor.

Bailee shall include “depositary,” (l) “goods” shall include “corporeal movable property” other than chattel paper, documents of title, instruments, money and securities, (m) an “agent” shall include a “mandatary,” (n) “construction liens” shall include “legal hypothecs in favour of persons having taken part in the construction or renovation of an immovable,” (o) “joint and several” shall include “solidary,” (p) “gross negligence or willful misconduct” shall be deemed to be “intentional or gross fault,” (q) “beneficial ownership” shall include “ownership” and “legal title” shall include holding title on behalf of an owner as mandatary or ▇▇▇▇▇-nom”; (r) “easement” shall include “servitude,” (s) “priority” shall include “prior claim” or “rank,” as applicable; (t) “survey” shall include “certificate of location and plan,” (u) “state” shall include “province,”

Bailee means a person who, by a negotiable warehouse