Bailee Waiver

Last Updated: Jun 6, 2019

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A Bailee waiver grants a collateral agent, or lender in the case of ABL Lending, access to the assets for which the Bailee is responsible. A Bailee waiver functions in a similar fashion to that of a landlord waiver, which grants an ABL lender access to a property, such as a warehouse where a borrower's inventory is stored. A lender may require a Bailee waiver for certain collateral, if that collateral is being added or newly delivered to the Bailee’s supervision after the initial bankruptcy filing.