Notification and Acknowledgment Agreement

Notification and Acknowledgment Agreement. Shall mean a Customs Broker or Freight Forwarder Notification and Acknowledgment Agreement in the form attached hereto as Exhibit A, or otherwise in form and substance satisfactory to Lender, from a Customs Broker, Freight Forwarder or other Person to whom Inventory may be consigned or who has custody, control or possession of any such Inventory (or other Collateral, including bills of lading or other documents of title), pursuant to which such Customs Broker or Freight Forwarder or other... Person, among other things, (A) acknowledges the first priority security interest of Lender in such Inventory and other Collateral, (B) agrees to waive any and all claims such Customs Broker or Freight Forwarder or other Person may, at any time, have against such Inventory and other Collateral, and (C) in the case of any consignee or other person who at any time has custody, control or possession of any Inventory or other Collateral, acknowledges that it holds and will hold possession of the Collateral for the benefit of Lender and agrees to follow all instructions of Lender with respect thereto. View More