Common use of Authorization for Lender to Take Certain Action Clause in Contracts

Authorization for Lender to Take Certain Action. (a) Each Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact (i) to execute on behalf of such Grantor as debtor and to file financing statements necessary or desirable in the Lender’s sole discretion to perfect and to maintain the perfection and priority of the Lender’s security interest in the Collateral, (ii) to endorse and collect any cash proceeds of the Collateral, (iii) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender’s security interest in the Collateral, (iv) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (v) to apply the proceeds of any Collateral received by the Lender to the Secured Obligations as provided in Section 2.09 of the Credit Agreement, (vi) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are Permitted Encumbrances),

Authorization for Lender to Take Certain Action. (a) Each Grantor Pledgor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender Lender, and appoints the Lender as its attorney-in-fact attorney in fact, coupled with an interest, (ia) to execute on behalf of such Grantor Pledgor as debtor and to file financing statements necessary or desirable in the Lender’s sole discretion to perfect and to maintain the perfection and priority of the Lender’s security interest Security Interest in the Collateral, (iib) to endorse indorse and collect any cash proceeds Proceeds of the Collateral, (iiic) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender’s security interest Security Interest in the Collateral, (ivd) to contact contract and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral Securities as may be necessary or advisable to give the Lender Control control over such Pledged Collateral, (ve) to apply the proceeds Proceeds of any Collateral received by the Lender to the Secured Obligations as provided in Section 2.09 of the Credit Agreement, 7 and (vif) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except Collateral, and the Pledgors agree to jointly and severally reimburse Lender on demand for such Liens any payment made or any expense incurred by Lender in connection therewith, provided that are Permitted Encumbrances),this authorization shall not relieve Pledgors of any of their respective obligations under this Agreement or under the Loan Agreement.

Authorization for Lender to Take Certain Action. (a) Each The Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-attorney in fact (i) to execute on behalf of such the Grantor as debtor and to file financing statements necessary or desirable in the Lender’s sole discretion to perfect and to maintain the perfection and priority of the Lender’s security interest in the Collateral, (ii) to endorse and collect any cash proceeds of the Collateral, (iii) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems reasonably necessary or desirable to perfect and to maintain the perfection and priority of the Lender’s security interest in the Collateral, (iv) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (v) to apply the proceeds of any Collateral received by the Lender to the Secured Obligations as provided in Section 2.09 of the Credit Agreement, Article VII and (viv) to discharge past due delinquent taxes, assessments, charges, fees or Liens liens on the Collateral (except for such Liens liens as are specifically permitted hereunder), and the Grantor agrees to reimburse the Lender on demand for any reasonable payment made or any reasonable expense incurred by the Lender in connection therewith; provided that are Permitted Encumbrances),this authorization shall not relieve the Grantor of any of its obligations under this Security Agreement or under the Credit Agreement. The Lender agrees not to exercise the powers of attorney granted pursuant to the foregoing clauses (ii) and (iv) unless an Event of Default has occurred and is continuing.