Control of Inventory Sample Clauses

The Control of Inventory clause establishes which party has authority and responsibility over the management, storage, and handling of inventory items. Typically, this clause outlines procedures for tracking inventory levels, conducting audits, and ensuring proper documentation of inventory movements. By clearly defining control, it helps prevent disputes over ownership, loss, or damage, and ensures accountability for the condition and availability of inventory throughout the contractual relationship.
Control of Inventory. In connection with all Inventory financed by Letters of Credit, the Borrower will, at the Agent's request, instruct all suppliers, carriers, forwarders, warehouses or others receiving or holding cash, checks, Inventory, documents or instruments in which the Agent holds a security interest to deliver them to the Agent and/or subject to the Agent's order, and if they shall come into the Borrower's possession, to deliver them, upon request, to the Agent in their original form. The Borrower shall also, at the Agent's request, designate the Agent as the consignee on all bills of lading and other negotiable and non-negotiable documents.
Control of Inventory. In connection with all Inventory financed by Letters of Credit, the Borrower will, at the Lender's request, instruct all suppliers, carriers, forwarders, warehouses or others receiving or holding cash, checks, Inventory, documents or instruments in which the Lender holds a security interest to deliver them to the Lender and/or subject to the Lender's order, and if they shall come into the Borrower's possession, to deliver them, upon request, to the Lender in their original form. The Borrower shall also, at the Lender's request, designate the Lender as the consignee on all bills of lading and other negotiable and non-negotiable documents.
Control of Inventory. In connection with all Inventory financed by Letters of Credit, each Borrower for whose account such Letter of Credit was issued will, at the Agent's request, instruct all suppliers, carriers, forwarders, customs brokers, warehouses, or others receiving or holding cash, checks, Inventory, documents, or instruments in which the Agent holds a security interest to deliver them to the Agent and/or subject to the Agent's order, and if they shall come into such Borrower's possession, to deliver them, upon request, to the Agent in their original form. Each such Borrower shall also, at the Agent's request, designate the Agent as the consignee on all bills of lading and other negotiable and non-negotiable documents.
Control of Inventory. In connection with all Inventory financed by Letters of Credit, if an Event of Default has occurred and is continuing, the Borrower and the other Loan Parties will, at the Agent's request, instruct all suppliers, carriers, forwarders, warehouses or others receiving or holding cash, checks, Inventory, documents or instruments in which the Agent holds a security interest to deliver them to the Agent and/or subject to the Agent's order, and if they shall come into the Borrower's or the other Loan Parties' possession, to deliver them, upon request, to the Agent in their original form. The Borrower and the other Loan Parties shall, at the Agent's request at any time, designate the Agent as the consignee on all bills of lading and other negotiable and non-negotiable documents.
Control of Inventory. In connection with all Inventory financed by Letters of Credit, each Borrower will, at the Agent's request, instruct all suppliers, carriers, forwarders, warehouses or others receiving or holding cash, checks, Inventory, documents or instruments in which the Agent holds a security interest to deliver them to the Agent and/or subject to the Agent's order, and if they shall come into such Borrower's possession, to deliver them, upon request, to the Agent in their original form. Each Borrower shall also, at the Agent's request, designate the Agent as the consignee on all bills of lading and other negotiable and non-negotiable documents. In the event the Agent is designated as consignee hereunder, at the applicable Borrower's request, the Agent will use best efforts to send promptly to such Borrower a copy of the consigned documents.
Control of Inventory. In connection with all Inventory of a Loan Party financed by Letters of Credit, the Loan Parties will, at the Agent's request, instruct all suppliers, carriers, forwarders, customs brokers, warehouses, or others receiving or holding cash, checks, Inventory, documents, or instruments in which the Agent holds a security interest to deliver them to the Agent and/or subject to the Agent's order, and if they shall come into any Loan Parties' possession, to deliver them, upon request, to the Agent in their original form. Loan Parties shall also, at the Agent's request, designate the Agent as the consignee on all bills of lading and other negotiable and non-negotiable documents.
Control of Inventory. In connection with all Inventory financed by Letters of Credit, the Borrowers will, at the Administrative Agent's request, instruct all suppliers, carriers, forwarders, customs brokers, warehouses, or others receiving or holding cash, checks, Inventory, documents, or instruments in which the Administrative Agent holds a security interest to deliver them to the Administrative Agent and/or subject to the Administrative Agent's order, and if they shall come into any Borrower's possession, to deliver them, upon request, to the Administrative Agent in their original form. The Borrowers shall also, at the Administrative Agent's request, designate the Administrative Agent as the consignee on all bills of lading and other negotiable and non-negotiable documents.
Control of Inventory. In connection with all Inventory financed by Letters of Credit, during the existence of an Event of Default the Borrower will, at the Agent's request, instruct all suppliers, carriers, forwarders, customs brokers, warehouses, or others receiving or holding cash, checks, Inventory, documents, or instruments in which the Agent holds a security interest to deliver them to the Agent and/or subject to the Agent's order, and if they shall come into the Borrower's possession, to deliver them, upon request, to the Agent in their original form. During the existence of an Event of Default the Borrower shall also, at the Agent's request, designate the Agent as the consignee on all bills of lading and other negotiable and non-negotiable documents in which the Agent holds a security interest.
Control of Inventory. In connection with all Inventory financed by Letters of Credit, the Borrower will, following the occurrence and during the continuance of an Event of Default at the Agent's request, instruct all suppliers, carriers, forwarders, warehouses or others receiving or holding cash, checks, Inventory, documents or instruments in which the Agent holds a security interest to deliver them to the Agent and/or subject to the Agent's order, and if they shall come into the Borrower's possession, to deliver them, upon request, to the Agent in their original form.
Control of Inventory. Upon the Agent or any of the Lenders making -------------------- a demand for payment of any Obligations payable upon demand or if an Event of Default exists, in connection with all Inventory financed by Letters of Credit or paid for and in transit,, the applicable Borrower will, at its applicable Lender's request, instruct all suppliers, carriers, forwarders, warehouses or others receiving or holding cash, cheques, Inventory, documents or instruments in which the Agent and/or Lenders hold a Security Interest to deliver them to the Agent and/or subject to the Agent's order, and if they shall come into such Borrower's possession, to deliver them, upon request, to the Agent in their original form. Such Borrower shall also designate the Agent or such Person as the Agent may designate as the consignee on all bills of lading and other negotiable and non-negotiable documents.