Warehouse Receipts Non-Negotiable. Each Grantor agrees that if any warehouse receipt or receipt in the nature of a warehouse receipt is issued in respect of any portion of the Collateral, such warehouse receipt or receipt in the nature thereof shall not be negotiable unless such warehouse receipt or receipt in the nature thereof is issued and duly negotiated to the Grantor or the Agent or to order, blank endorsed, and in the possession of the Grantor or the Agent.
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Sources: Security Agreement (Empire Resources Inc /New/), Security Agreement (Empire Resources Inc /New/)
Warehouse Receipts Non-Negotiable. Each Grantor agrees that if any warehouse receipt or receipt in the nature of a warehouse receipt is issued in respect of any portion of the Collateral, such warehouse receipt or receipt in the nature thereof shall not be negotiable unless such warehouse receipt or receipt in the nature thereof is issued and duly negotiated delivered to the Grantor or the Agent or to order, blank endorsed, and in the possession of the Grantor or the Agent.
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