Common use of Delivery of Documents and Instruments Clause in Contracts

Delivery of Documents and Instruments. Immediately upon Borrower's receipt of any portion of the Collateral evidenced by an agreement, instrument or document including, without limitation, any Chattel Paper, Borrower shall deliver the original thereof to Agent together with an appropriate endorsement or other specific evidence of assignment thereof to Agent (in form and substance acceptable to Agent). If an endorsement or assignment of any such items shall not be made for any reason, Agent is hereby irrevocably authorized, as Borrower's attorney and agent-in-fact, to endorse or assign the same on Borrower's behalf.

Delivery of Documents and Instruments. Immediately upon Borrower's receipt of any portion of the Collateral evidenced by an agreement, instrument Instrument or document Document including, without limitation, any Chattel Paper, Borrower shall deliver the original thereof to Agent Lender together with an appropriate endorsement or other specific evidence of assignment thereof to Agent Lender (in form and substance acceptable to AgentLender). If an endorsement or assignment of any such items shall not be made for any reason, Agent Lender is hereby irrevocably authorized, as Borrower's attorney and agent-in-fact, to endorse or assign the same on Borrower's behalf.