Common use of Authorization of Issuers Clause in Contracts

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

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