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

Authorization for Secured Party to Take Certain Action. The Grantor irrevocably authorizes the Collateral Agent at any time and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Collateral and which are Securities or with financial intermediaries holding other Investment Property as may be necessary or advisable solely to give the Collateral Agent Control over such Securities or other Investment Property, (ii) following the occurrence and during the continuance of an Event of Default, to enforce payment of the Instruments, Accounts and General Intangibles (other than Equity General Intangibles) which are Collateral in the name of the Collateral Agent or the Grantor, (iii) following the occurrence and during the continuance of an Event of Default, to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations and (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under any other Loan Document), and the Grantor agrees to reimburse the Collateral Agent on demand for any reasonable payment made or any reasonable expense incurred by the Collateral Agent in connection therewith, provided that this authorization shall not relieve the Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Authorization for Secured Party to Take Certain Action. The Grantor If the security interest granted pursuant to Section 2.1 has become effective pursuant to Section 2.2, the Grantors irrevocably authorizes authorize the Collateral Agent at any time thereafter and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to contact execute on behalf of themselves as debtor and enter into one or more agreements with the issuers of uncertificated securities which are Collateral and which are Securities or with financial intermediaries holding other Investment Property as may be to file financing statements necessary or advisable solely desirable in the Agent's sole discretion to give perfect and to maintain the Collateral Agent Control over such Securities or other Investment Propertyperfection and priority of the Agent's security interest in the Collateral, (ii) following to indorse and collect any cash proceeds of the occurrence 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 in such offices as the Agent in its sole discretion deems necessary or desirable to perfect and during to maintain the continuance perfection and priority of an Event of Defaultthe Agent's security interest in the Collateral, (iv) to enforce payment of the Instruments, Accounts and General Intangibles (other than Equity General Intangibles) which are Collateral Receivables in the name of the Collateral Agent or the GrantorGrantors, (iiiv) following the occurrence and during the continuance of an Event of Default, to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations as provided in Article VII and (ivvi) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under any other Loan Documenthereunder), and the Grantor agrees Grantors agree to reimburse the Collateral Agent on demand for any reasonable payment made or any reasonable expense incurred by the Collateral Agent in connection therewith, provided that this authorization shall not relieve the Grantor Grantors of any of its their obligations under this Security Agreement or under the Credit Agreement.

Authorization for Secured Party to Take Certain Action. The Each Grantor irrevocably authorizes the Collateral Agent at any time and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to contact indorse and enter into one or more agreements with collect any cash proceeds of the issuers of uncertificated securities which are Collateral and which are Securities or with financial intermediaries holding other Investment Property as may be necessary or advisable solely to give the Collateral Agent Control over such Securities or other Investment PropertyCollateral, (ii) following to file a carbon, photographic or other reproduction of this Security Agreement or any financing statements with respect to the occurrence Collateral (which financing statements may describe the Collateral in substantially the same manner as described herein) as a financing statement and during 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 continuance Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of an Event of Defaultthe Agent’s security interest in the Collateral, (iii) to enforce payment of the Instruments, Accounts and General Intangibles (other than Equity General Intangibles) which are Collateral Receivables in the name of the Collateral Agent or the such Grantor, (iiiiv) following the occurrence and during the continuance of an Event of Default, to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations as provided in the Credit Agreement and (ivv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under any other Loan Document), and the each Grantor agrees to reimburse the Collateral Agent on demand for any reasonable payment made or any reasonable expense incurred by the Collateral Agent in connection therewith, provided that this authorization shall not relieve the any Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Authorization for Secured Party to Take Certain Action. The Each Grantor irrevocably authorizes the Collateral Agent at any time and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Collateral owned by such Grantor and which are Securities or with financial intermediaries holding other Investment Property as may be necessary or advisable solely to give the Collateral Agent Control over such Securities or other Investment Property, (ii) following the occurrence and during the continuance of an Event of Default, to enforce payment of the Instruments, Instruments and Accounts and General Intangibles (other than Equity General Intangibles) which are Collateral in the name of the Collateral Agent or the such Grantor, (iii) following the occurrence and during the continuance of an Event of Default, to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations and (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under any other Loan Document), and the each Grantor agrees to reimburse the Collateral Agent on demand for any reasonable payment made or any reasonable expense incurred by the Collateral Agent in connection therewith, provided that this authorization shall not relieve the any Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Authorization for Secured Party to Take Certain Action. The Each Grantor irrevocably authorizes the Collateral Agent at any time and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to contact indorse and enter into one or more agreements with collect any cash proceeds of the issuers of uncertificated securities which are Collateral and which are Securities or with financial intermediaries holding other Investment Property as may be necessary or advisable solely to give the Collateral Agent Control over such Securities or other Investment PropertyCollateral, (ii) following to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the occurrence Collateral as a financing statement and during 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 continuance Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of an Event of Defaultthe Agent's security interest in the Collateral, (iii) to enforce payment of the Instruments, Accounts and General Intangibles (other than Equity General Intangibles) which are Collateral Receivables in the name of the Collateral Agent or the such Grantor, (iiiiv) following the occurrence and during the continuance of an Event of Default, to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations as provided in the Credit Agreement and (ivv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under any other Loan Document), and the each Grantor agrees to reimburse the Collateral Agent on demand for any reasonable payment made or any reasonable expense incurred by the Collateral Agent in connection therewith, provided that this authorization shall not relieve the any Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Authorization for Secured Party to Take Certain Action. The Grantor Pledgor irrevocably authorizes the Collateral Agent at any time and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to contact execute on behalf of the Pledgor as debtor and enter into one or more agreements with the issuers of uncertificated securities which are Collateral and which are Securities or with financial intermediaries holding other Investment Property as may be to file financing statements necessary or advisable solely desirable in the Agent’s sole discretion to give perfect and to maintain the Collateral Agent Control over such Securities or other Investment Propertyperfection and priority of the Agent’s security interest in the Collateral, (ii) following to indorse and collect any cash proceeds of the occurrence 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 during 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 continuance Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of an Event the Agent’s security interest in the Collateral, (iv) subject to the terms of DefaultSection 4.1.5, to enforce payment of the Instruments, Accounts and General Intangibles (other than Equity General Intangibles) which are Collateral Receivables in the name of the Collateral Agent or the GrantorPledgor, (iiiv) following at the occurrence and during the continuance of an Event of Defaulttimes specified in Section 7.4, to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations as provided in Section 7.4 and (ivvi) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under any other Loan Documenthereunder), and the Grantor Pledgor agrees to reimburse the Collateral Agent on demand for any reasonable payment made or any reasonable expense reasonably incurred by the Collateral Agent in connection therewith, provided that this authorization shall not relieve the Grantor Pledgor of any of its obligations under this Security Agreement or under the Credit Agreement.

Authorization for Secured Party to Take Certain Action. The Each Grantor irrevocably authorizes the Collateral Agent at any time and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Collateral owned by such Grantor and which are Securities or with financial intermediaries holding other Investment Property as may be necessary or advisable solely to give the Collateral Agent Control over such Securities or other Investment Property, (ii) following the occurrence and during the continuance of an Event of Default, to enforce payment of the Instruments, Instruments and Accounts and General Intangibles (other than Equity General Intangibles) which are Collateral in the name of the Collateral Agent or the such Grantor, (iii) following the occurrence and during the continuance of an Event of Default, to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations and (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under any other Loan Document), and the each Grantor agrees to reimburse the Collateral Agent on demand for any reasonable payment made or any reasonable expense incurred by the Collateral Agent in connection therewith, provided that this authorization shall not relieve the any Grantor of any of its obligations under this Security Agreement or under the Credit AgreementAgreements.

Authorization for Secured Party to Take Certain Action. The Subject to the ABL Intercreditor Agreement, each Grantor irrevocably authorizes the Collateral Agent at any time and from time to time in the sole discretion of the Collateral Agent and appoints the Collateral Agent as its attorney in fact (i) to contact indorse and enter into one or more agreements with collect any cash proceeds of the issuers of uncertificated securities which are Collateral and which are Securities or with financial intermediaries holding other Investment Property as may be necessary or advisable solely to give the Collateral Agent Control over such Securities or other Investment PropertyCollateral, (ii) following to file a carbon, photographic or other reproduction of this Security Agreement or any financing statements with respect to the occurrence Collateral (which financing statements may describe the Collateral in substantially the same manner as described herein) as a financing statement and during 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 continuance Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of an Event of Defaultthe Agent's security interest in the Collateral, (iii) to enforce payment of the Instruments, Accounts and General Intangibles (other than Equity General Intangibles) which are Collateral Receivables in the name of the Collateral Agent or the such Grantor, (iiiiv) following the occurrence and during the continuance of an Event of Default, to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations as provided in the Credit Agreement and (ivv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under any other Loan Document), and the each Grantor agrees to reimburse the Collateral Agent on demand for any reasonable payment made or any reasonable expense incurred by the Collateral Agent in connection therewith, provided that this authorization shall not relieve the any Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.