Common use of Authorization of Issuers Clause in Contracts

Authorization of Issuers. Subject to the Subordination Agreement, each Grantor hereby expressly irrevocably authorizes and instructs, without any further instructions from such Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by it from the Collateral Agent in writing that states that an Event of Default is continuing and is otherwise in accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor in so complying and (ii) unless otherwise expressly permitted hereby or by the Note Agreement, pay any dividend or make any other payment with respect to the Pledged Collateral directly to the Collateral Agent.

Appears in 1 contract

Sources: Guaranty and Security Agreement (Princeton Review Inc)

Authorization of Issuers. Subject to the Subordination Agreement, each Each Grantor hereby expressly and irrevocably authorizes and instructs, without any further instructions from such Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to, subject to the Intercreditor Agreement, (i) comply with any instruction received by it from the Collateral Agent in writing that states that an Event of Default is continuing and is otherwise in accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor in so complying and (ii) unless otherwise expressly permitted hereby or by the Note AgreementCredit Document, each issuer of any Pledged Collateral to pay any dividend or make any other payment with respect to the Pledged Collateral directly to the Collateral Agent.

Appears in 1 contract

Sources: Security Agreement (CVR Partners, Lp)

Authorization of Issuers. Subject to From and after the Subordination AgreementFunding Date, each Grantor hereby expressly and irrevocably authorizes and instructs, without any further instructions from such Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by it from the Collateral Agent in writing that states that an Event of Default is continuing and is otherwise in accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor in so complying and (ii) unless otherwise expressly permitted hereby or by the Note Credit Agreement, pay any dividend or make any other payment with respect to the Pledged Collateral directly to the Collateral Agent.

Appears in 1 contract

Sources: Guaranty and Security Agreement (Rimini Street, Inc.)

Authorization of Issuers. Subject to At any time during the Subordination Agreementcontinuance of an Event of Default, each Grantor hereby expressly irrevocably authorizes and instructs, without any further instructions from such Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by it from the Collateral Agent in writing that states that an Event of Default is continuing and is otherwise in accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor in so complying and (ii) unless otherwise expressly permitted hereby or by the Note Agreementhereby, pay any dividend or make any other payment with respect to the Pledged Collateral directly to the Collateral Agent.

Appears in 1 contract

Sources: Security Agreement (Unrivaled Brands, Inc.)

Authorization of Issuers. Subject to the Subordination terms of the Closing Date Intercreditor Agreement, each Grantor hereby expressly irrevocably authorizes and instructs, without any further instructions from such Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by it from the Second Lien Collateral Agent in writing that states that an Event of Default is continuing and is otherwise in accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor in so complying and (ii) unless otherwise expressly permitted hereby or by the Note Credit Agreement, pay any dividend or make any other payment with respect to the Pledged Collateral directly to the Second Lien Collateral Agent.

Appears in 1 contract

Sources: Guaranty and Security Agreement (CSAV Holding Corp.)

Authorization of Issuers. Subject to the Subordination Agreement, each Each Grantor hereby expressly and irrevocably authorizes and instructs, without any further instructions from such Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) subject to the notice requirements of Section 6.3(a), comply with any instruction received by it from the Collateral Administrative Agent in writing that states that an Event of Default is continuing and is otherwise in accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities liabilities to such Grantor in so complying and (ii) unless otherwise expressly permitted hereby or by the Note Credit Agreement, pay any dividend or make any other payment with respect to the Pledged Collateral directly to the Collateral Administrative Agent.

Appears in 1 contract

Sources: Security and Pledge Agreement (Cambium Networks Corp)

Authorization of Issuers. Subject to the Subordination Agreementlimitations set forth in this Agreement or in any other Loan Document, each Grantor hereby expressly irrevocably authorizes and instructs, without any further instructions from such Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by it from the Collateral Agent Lender in writing that states that an Event of Default is continuing and is otherwise in accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor in so complying and (ii) unless otherwise expressly permitted hereby or by the Note AgreementNote, pay any dividend or make any other payment with respect to the Pledged Collateral directly to the Collateral AgentLender.

Appears in 1 contract

Sources: Guaranty and Security Agreement (Signal Genetics LLC)

Authorization of Issuers. Subject to the Subordination Agreement, each Each Grantor hereby expressly irrevocably authorizes and instructs, without any further instructions from such Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by it from the Collateral Administrative Agent in writing that states that an Event of Default is continuing and is otherwise in accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor in so complying and (ii) upon receipt of such instruction, unless otherwise expressly permitted hereby or by the Note Agreementhereby, pay any dividend or make any other payment with respect to the Pledged Collateral directly to the Collateral Administrative Agent.

Appears in 1 contract

Sources: Guaranty and Security Agreement (Medical Staffing Network Holdings Inc)