Bills of Lading and Other Documents of Title Clause Samples

The "Bills of Lading and Other Documents of Title" clause defines the handling, transfer, and legal significance of shipping documents that represent ownership or control over goods in transit. Typically, this clause outlines the responsibilities for issuing, endorsing, and delivering bills of lading or similar documents, and may specify who is entitled to receive the goods upon arrival. Its core function is to ensure clear and secure transfer of title and possession during shipping, thereby reducing disputes over ownership and facilitating smooth commercial transactions.
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Bills of Lading and Other Documents of Title. Borrower shall cause all bills of lading and other documents of title relating to goods being purchased by Borrower which are outside the United States and in transit to the premises of Borrower or the premises of a Customs Broker to name Borrower as consignee, unless and until Lender may direct otherwise. At such time and from time to time as Lender may direct, Borrower shall cause Lender or such other financial institution or other person as Lender may specify to be named as consignee. Without limiting any other rights of Lender hereunder, Lender shall have the right to endorse and negotiate on behalf of, and as attorney-in-fact for, Borrower any ▇▇▇▇ of lading or other document of title with respect to such goods naming Borrower as consignee to Lender. There shall be three (3) originals of each of such ▇▇▇▇ of lading or other document of title, which unless and until Lender shall direct otherwise shall be delivered as follows: (a) one (1) original to such Customs Broker as Borrower may specify (so long as Lender shall have received a Collateral Access Agreement duly authorized, executed and delivered by such Customs Broker) and (b) at Lender's request, two (2) originals of which shall be delivered to Lender or to such other person as Lender may designate for such purpose. At Lender's request, Borrower shall instruct all suppliers, carriers, forwarders, warehouses or others receiving or holding Inventory, documents, or instruments in which Lender holds a security interest to deliver them to Lender and/or subject to Lender's request and if they shall come into Borrower's possession, to deliver them, upon request, to Lender in their original form. Borrower shall cause all bills of lading or other documents of title relating to goods purchased by Borrower which are outside the United States and in transit to the premises of Borrower to be issued in a form so as to constitute negotiable documents as such term is defined in the Uniform Commercial Code.
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Bills of Lading and Other Documents of Title. (a) On and after the date hereof, each Borrower shall cause all bills of lading or other documents of title relating to goods purchased by such Borrower which are outside the United States of America, Canada or the Netherlands and in transit to the premises of such Borrower or the premises of a Freight Forwarder in the United States of America, Canada or the Netherlands (i) to be issued in a form so as to constitute negotiable documents as such term is defined in the Uniform Commercial Code (except as Agent may otherwise specifically agree) and (ii) other than those relating to goods being purchased pursuant to a Letter of Credit, except as otherwise permitted by clause (b)(ii)(B) of the definition of Eligible In-Transit Inventory, to be issued either to the order of Agent or such other person as the Agent may from time to time designate for such purpose as consignee or such Borrower as consignee, as Agent may specify. (b) There shall be no more than three (3) originals of any bills of lading and other documents of title relating to goods being purchased by any Borrower which are outside the United States of America, Canada or the Netherlands and in transit to the premises of such Borrower or the premises of a Freight Forwarder in the United States of America, Canada or the Netherlands. As to any such bills of lading or other documents of title, unless and until Agent shall direct otherwise, (i) two (2) originals of each of such ▇▇▇▇ of lading or other document of title shall be delivered to such Freight Forwarder as such Borrower may specify and that is party to a Collateral Access Agreement by not later than thirty (30) days after the Closing Date, and (ii) one (1) original of each such ▇▇▇▇ of lading or other document of title shall be delivered to Agent or Agent’s agent. To the extent that the terms of this Section have not been satisfied as to any Inventory, such Inventory shall not constitute Eligible Inventory, except as Agent may otherwise agree.
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Bills of Lading and Other Documents of Title. On and after the date hereof, with respect to goods purchased by a Borrower which are outside the United States of America and in transit to the premises of such Borrower or the premises of a Freight Forwarder in the United States of America (i) if Borrowers have elected to comply with the eligibility criteria in clause (c)(i)(A) of the definition of Eligible In-Transit Inventory and the eligibility criteria of clause (f)(i) of the definition of Eligible In-Transit LC Inventory, each Borrower shall cause all bills of lading or other documents of title relating to such goods to be issued in a form so as to constitute negotiable documents as such term is defined in the Uniform Commercial Code, (ii) if Borrowers have elected to comply with the eligibility criteria in clause (c)(i)(B) or (C) of the definition of Eligible In-Transit Inventory and the eligibility criteria of clause (f)(ii) or (iii) of the definition of Eligible In-Transit LC Inventory, each Borrower shall cause all bills of lading or other documents of title relating to such goods to be issued in a form so as to constitute non-negotiable documents as such term is defined in the Uniform Commercial Code and (iii) other than those relating to goods being purchased pursuant to a Letter of Credit Accommodation, to be issued either to the order of Agent or such other person as the Agent may from time to time designate for such purpose as consignee or such Borrower as consignee, as Agent may specify.
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Bills of Lading and Other Documents of Title. On and after the date of this Agreement, Borrowers shall cause all bills of lading or other documents of title relating to goods purchased by a Borrower included or requested by Borrowers to be included as Eligible Inventory in the calculation of the Borrowing Base and set forth in the applicable Borrowing Base Certificate which are outside the United States of America and in transit to the premises of such Borrower or the premises of a Freight Forwarder in the United States of America (i) to be issued in a form so as to constitute negotiable documents as such term is defined in the Uniform Commercial Code and (ii) other than those relating to goods being purchased pursuant to a Letter of Credit, to be issued either to the order of Agent or such other person as Agent may from time to time designate for such purpose as consignee or such Borrower as consignee, as Agent may specify.
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Bills of Lading and Other Documents of Title. In the event that any Inventory which would otherwise be Eligible Inventory located outside the United States of America which is in transit to premises of a Customs Broker in the United States or premises of Borrower as described in the definition of Eligible Inventory, constitutes Eligible Inventory then (a) Borrower shall cause all bills of lading and other documents of title relating to goods being purchased by Borrower which are outside the United States and in transit to the premises of Borrower or the premises of a Customs Broker in the United States to name Borrower as consignee, unless and until Agent may direct otherwise; (b) at such time and from time to time as Agent may direct, Borrower shall cause Agent or such financial institution or other person as Agent may specify to be named as consignee; (c) without limiting any other rights of Agent hereunder, Agent shall have the right to endorse and negotiate on behalf of, and as attorney-in-fact for, Borrower any ▇▇▇▇ of lading or other document of title with respect to such
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Bills of Lading and Other Documents of Title. With respect to Inventory in transit to premises of Obligors in the United States of America, after the occurrence and during the continuance of a Cash Dominion Event, (a) Obligors shall cause all bills of lading and other documents of title relating to goods being purchased by it which are outside the United States and in transit to such premises in the United States of America to name Obligors as consignee, unless and until Agent directs otherwise; (b) at such time and from time to time as Agent may direct, Obligors shall cause Agent or such other financial institution or other person as Agent may specify to be named as consignee; (c) without limiting any other rights of Agent or any Secured Party hereunder, Agent shall have the right to endorse and negotiate on behalf of , and as attorney in fact for, Obligors any b▇▇▇ of lading or other document of title with respect to such goods naming Obligors as consignee to Agent; (d) there shall be no more than three (3) originals of each of such b▇▇▇ of lading or other document of title which unless and upon Agent’s direction, shall be delivered as follows: (i) one (1) original to such customs broker as the applicable Obligor may specify (so long as Agent has received a Collateral Access Agreement duly executed and delivered by such customs broker), and (ii) two
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Bills of Lading and Other Documents of Title. Each Borrower shall cause all bills of lading and other documents of title relating to goods being purchased by such Borrower which are in transit to the premises of Borrower to name such Borrower as consignee, unless and until Lender may direct otherwise. At such time and from time to time as Lender may direct, each Borrower shall cause Lender or such other financial institution or other person as Lender may specify to be named as consignee. Without limiting any other rights of Lender hereunder, Lender shall have the right to endorse and negotiate on behalf of, and as attorney-in-fact for, each Borrower any ▇▇▇▇ of lading or other document of title with respect to such goods naming such Borrower as consignee to Lender. Each Borrower shall cause all bills of lading or other documents of title relating to goods purchased by Borrower which are in transit to the premises of Borrower to be issued in a form so as to constitute negotiable documents as such term is defined in the Uniform Commercial Code.
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Bills of Lading and Other Documents of Title. In the event that any Inventory that would otherwise be Eligible Inventory is located outside the United States of America or Canada and is in transit to premises of a Customs Broker in the United States or Canada or premises of a Borrower in the United States of America or Canada as described in the definition of Eligible Inventory, such Inventory may be accepted by Lenders as Eligible Inventory if (a) each
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Bills of Lading and Other Documents of Title. (a) On and after the date hereof, K&M shall cause all bills of lading or other documents of title relating to goods purchased by K&M which are outside the United States of America and in transit to the premises of K&M or the premises of a Freight Forwarder in the United States of America (i) to be issued in a form so as to constitute negotiable documents as such term is defined in the UCC and (ii) other than those relating to goods being purchased pursuant to a Letter of Credit, to be issued either to the order of Agent or such other person as the Agent may from time to time designate for such purpose as consignee or Borrower as consignee, as Agent may specify. (b) There shall be no more than three (3) originals of any bills of lading and other documents of title relating to goods being purchased by K&M which are outside the United States of America and in transit to the premises of K&M or the premises of a Freight Forwarder in the United States of America. As to any such bills of lading or other documents of title, unless and until Agent shall direct otherwise, (i) two (2) originals of each of such ▇▇▇▇ of lading or other document of title shall be delivered to such Freight Forwarder as K&M may specify and that is party to a Collateral Access Agreement and (ii) one (1) original of each such ▇▇▇▇ of lading or other document of title shall be delivered to Agent. To the extent that the terms of this Section have not been satisfied as to any Inventory, such Inventory shall not constitute Eligible Inventory, except as Agent may otherwise agree.
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Related to Bills of Lading and Other Documents of Title

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