Common use of Authorization of Lender Clause in Contracts

Authorization of Lender. By execution of this Note, Dealer authorizes LENDER and any of its officers, employees or agents to take any and all action to secure and perfect its interest in the Collateral including but not limited to taking possession of the Collateral and executing and filing, on behalf of Dealer and without Dealer’s signature, original financing statements, amendments, continuation statements, and any other documents LENDER deems necessary or desirable to protect its interests. Dealer authorizes LENDER to supply any omitted information and correct errors in any document executed by or on behalf of Dealer, and to contact any. bank or other depository institution to obtain account information concerning Dealer. Dealer authorizes LENDER to obtain credit information from a credit bureau, and any financial institutions or trade creditor that Dealer has provided as well as other credit investigation that LENDER in LENDER’s sole discretion deems necessary. Dealer also authorizes LENDER to contact any third parties to disclose information, including information contained in this Note, for the purposes of, including, but not limited to assessing Dealer’s credit worthiness, collection of any outstanding debt, obtaining intercreditor agreements, and perfecting LENDER’s security interest. Dealer also authorizes LENDER to disclose the above described information to any of its successors, affiliates, subsidiaries, and parent companies. Further, Dealer authorizes LENDER to review Dealer’s account periodically, which could include obtaining additional credit reports. Dealer authorizes LENDER to disclose Dealer’s credit information into any credit database. In addition, Dealer shall execute the Power of Attorney incorporated herein by reference as Exhibit B.

Appears in 1 contract

Sources: Demand Promissory Note and Security Agreement (Acamar Partners Acquisition Corp.)

Authorization of Lender. By execution of this Note, Dealer authorizes LENDER LENDER, and any of its officers, employees or agents to take any and all action to secure and perfect its it's interest in the Collateral including but not limited to taking possession of the Collateral and executing and filing, on behalf of Dealer and without Dealer’s 's signature, original financing statements, amendments, continuation statements, and any other documents LENDER deems necessary or desirable to protect its interests. Dealer authorizes LENDER to supply any omitted information and correct errors in any document executed by or on behalf of Dealer, and to contact any. any bank or other depository institution to obtain account information concerning Dealer. Dealer authorizes LENDER to obtain credit information from a credit bureau, and any financial institutions or trade creditor that Dealer has provided as well as other credit investigation that LENDER in LENDER’s 's sole discretion deems necessarynecessary for purpose of, among other things, but not limited to assessing my credit worthiness, collection of any outstanding debt, and obtaining intercreditor agreements and perfecting LENDER's security interest (hereinafter collectively referred to as "Credit Screening"). Dealer also authorizes LENDER to contact any third parties to disclose information, including information contained in this Note, for the purposes of, including, but not limited to assessing Dealer’s credit worthiness, collection of any outstanding debt, obtaining intercreditor agreements, and perfecting LENDER’s security interestCredit Screening. Dealer also authorizes LENDER to disclose the above described information to any of its successors, affiliates, subsidiaries, and parent companies. Further, Dealer authorizes LENDER to review Dealer’s 's account periodically, which could include obtaining additional credit reports. reports for the purpose of Credit Screening Dealer authorizes LENDER to disclose Dealer’s my credit information into any credit database. In addition, Dealer shall execute the Power of Attorney incorporated herein by reference as Exhibit B.

Appears in 1 contract

Sources: Receivables Purchase Agreement (Adesa Inc)

Authorization of Lender. By execution of this Note, Dealer authorizes LENDER LENDER, and any of its officers, employees or agents to take any and all action to secure and perfect its it’s interest in the Collateral including but not limited to taking possession of the Collateral and executing and filing, on behalf of Dealer and without Dealer’s signature, original financing statements, amendments, continuation statements, and any other documents LENDER deems necessary or desirable to protect its interests. Dealer authorizes LENDER to supply any omitted information and correct errors in any document executed by or on behalf of Dealer, and to contact any. any bank or other depository institution to obtain account information concerning Dealer. Dealer authorizes LENDER to obtain credit information from a credit bureau, and any financial institutions or trade creditor that Dealer has provided as well as other credit investigation that LENDER in LENDER’s sole discretion deems necessarynecessary for purpose of, among other things, but not limited to assessing my credit worthiness, collection of any outstanding debt, and obtaining intercreditor agreements and perfecting LENDER’s security interest (hereinafter collectively referred to as “Credit Screening”). Dealer also authorizes LENDER to contact any third parties to disclose information, including information contained in this Note, for the purposes of, including, but not limited to assessing Dealer’s credit worthiness, collection of any outstanding debt, obtaining intercreditor agreements, and perfecting LENDER’s security interestCredit Screening. Dealer also authorizes LENDER to disclose the above described information to any of its successors, affiliates, subsidiaries, and parent companies. Further, Dealer authorizes LENDER to review Dealer’s account periodically, which could include obtaining additional credit reports. reports for the purpose of Credit Screening Dealer authorizes LENDER to disclose Dealer’s my credit information into any credit database. In addition, Dealer shall execute the Power of Attorney incorporated herein by reference as Exhibit B.

Appears in 1 contract

Sources: Receivables Purchase Agreement (Adesa Inc)