Common use of Possession of Inventory, Control; etc Clause in Contracts

Possession of Inventory, Control; etc. Such Grantor (a) has exclusive possession and control, subject to Permitted Liens, of the Equipment and Inventory except as permitted under the Credit Agreement, and (b) is the sole entitlement holder of its Accounts and no other Person (other than the Administrative Agent pursuant to (i) this Security Agreement with respect to any Accounts maintained with the Administrative Agent or (ii) a Control Agreement with respect to any Accounts maintained with a bank other than the Administrative Agent) has “control” or “possession” of any of its Accounts or any other securities or property credited thereto except as permitted pursuant to this Security Agreement.

Possession of Inventory, Control; etc. Such Grantor (a) has exclusive possession and control, subject to Permitted Liens, control of the Equipment and Inventory except as permitted under the Credit AgreementInventory, and (b) is the sole entitlement holder of its Deposit Accounts, Securities Accounts and other bank accounts and no other Person (other than the Administrative Agent pursuant to (i) this Security Agreement or any other Person with respect to any Accounts maintained with the Administrative Agent or (ii) a Control Agreement with respect to any Accounts maintained with a bank other than the Administrative AgentPermitted Liens) has “control” or “possession” of of, or any other interest in, any of its Accounts (other than those set forth on Item 7.1.9 of the Disclosure Schedule to the First Lien Credit Agreement) or any other securities or property credited thereto except as permitted pursuant to this Security Agreement.