AUTHORIZED AGENT AND POWERS OF ATTORNEY Clause Samples

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AUTHORIZED AGENT AND POWERS OF ATTORNEY. The New PC hereby designates the MSO (and its designees) its authorized agent and lawful attorney-in-fact for purposes of depositing payments, paying accounts payables, signing checks, negotiating and signing contracts for services or goods, securing loans or incurring obligations on behalf of the New PC; provided, however, that all contracts or fees set for services on behalf of the New PC will be subject to final approval and acceptance by the New PC. Additionally, the New PC hereby irrevocably appoints the MSO (and its designees) its authorized agent and lawful attorney-in-fact to collect all bills and accounts receivable for professional fees, charges and other amounts and authorizes the MSO through its designees to take possession of all checks, money orders and similar instruments received as payment of receivables to be deposited into the New PC Account. The New PC hereby irrevocably appoints the MSO as the New PC's attorney-in-fact, with full power and authority in the place and stead of the New PC, in the MSO's discretion, to endorse in the name of the New PC any checks, payments, notes, insurance payments and money orders, to withdraw funds for payments of expenses, including Management Fees and other sums payable to the MSO, to open and close the New PC Account and other bank accounts, to take any action and to execute any other instrument which the MSO may deem necessary or advisable to accomplish the purposes hereof. The powers of attorney granted herein are coupled with an interest and are irrevocable. Third parties and entities and persons not a party to this Agreement are entitled to rely on the foregoing attorneys-in-fact and an affidavit of the MSO attesting thereto. The acceptance of this appointment by the MSO shall not obligate it to perform any duty or covenant required to be performed by the New PC under or by virtue of this Agreement. Notwithstanding the foregoing powers of attorney, the New PC shall at any time, on the request of the MSO, sign financing statements, security agreements or other agreements necessary or advisable to accomplish the purpose of this Agreement. Upon the New PC's failure to sign said financing statements, security agreements or other agreements, the MSO is authorized as the agent of the New PC to sign any such instruments. The New PC may review all deposits and expenses upon request.
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Related to AUTHORIZED AGENT AND POWERS OF ATTORNEY

  • Bank Accounts and Powers of Attorney Set forth in Schedule 3.21 is an accurate and complete list showing (a) the name of each bank in which the Company has an account, credit line or safe deposit box and the names of all Persons authorized to draw thereon or to have access thereto, and (b) the names of all Persons, if any, holding powers of attorney from the Company and a summary statement of the terms thereof.

  • Appointment and Powers Subject to the terms and conditions hereof, each of the Secured Parties hereby appoints Norwest Bank Minnesota, National Association as the Collateral Agent with respect to the Series 1993-A Collateral and the related Collateral subsequently specified in a Series Supplement, and Norwest Bank Minnesota, National Association hereby accepts such appointment and agrees to act as Collateral Agent with respect to the Series 1993-A Collateral, and upon execution of any Series Supplement, shall be deemed to accept such appointment, and agree to act as Collateral Agent with respect to such Collateral, in each case, for the Secured Parties, to maintain custody and possession of such Collateral (except as otherwise provided hereunder) and to perform the other duties of the Collateral Agent in accordance with the provisions of this Agreement. Each Secured Party hereby authorizes the Collateral Agent to take such action on its behalf, and to exercise such rights, remedies, powers and privileges hereunder, as the Controlling Party may direct and as are specifically authorized to be exercised by the Collateral Agent by the terms hereof, together with such actions, rights, remedies, powers and privileges as are reasonably incidental thereto. The Collateral Agent shall act upon and in compliance with the written instructions of the Controlling Party delivered pursuant to this Agreement promptly following receipt of such written instructions; provided that the Collateral Agent shall not act in accordance with any instructions (i) which are not authorized by, or in violation of the provisions of, this Agreement, (ii) which are in violation of any applicable law, rule or regulation or (iii) for which the Collateral Agent has not received reasonable indemnity. Receipt of such instructions shall not be a condition to the exercise by the Collateral Agent of its express duties hereunder, except where this Agreement provides that the Collateral Agent is permitted to act only following and in accordance with such instructions.

  • No Powers of Attorney The Company has no powers of attorney or similar authorizations outstanding.

  • Powers of Attorney There are no outstanding powers of attorney executed on behalf of the Company.

  • Bank Accounts; Powers of Attorney Schedule 3.13 sets forth a complete and accurate list as of the date of this Agreement, of: (a) the name of each financial institution in which the Company has any account or safe deposit box; (b) the names in which the accounts or boxes are held; (c) the type of account; (d) the name of each person authorized to draw thereon or have access thereto; and (e) the name of each person, corporation, firm or other entity holding a general or special power of attorney from the Company and a description of the terms of such power.