Common use of Further Approvals Clause in Contracts

Further Approvals. In connection with the exercise by the Agent on behalf of the Secured Parties of its rights hereunder, it may be necessary to obtain the prior consent or approval of Governmental Authorities and other persons to a transfer or assignment of Collateral. The Pledgor hereby agrees, during the continuance of an Event of Default, to execute, deliver and file, and hereby appoints (to the extent permitted under applicable law) the Agent on behalf of the Secured Parties as its attorney, during the continuance of an Event of Default, to execute, deliver and file on the Pledgor's behalf and in the Pledgor's name, all applications, certificates, filings, instruments and other documents (including any application for an assignment or transfer of control or ownership) that may be necessary or appropriate, in the opinion of Agent's counsel, to obtain such consents, waivers or approvals. The Pledgor further agrees to use commercially reasonable efforts to obtain the foregoing consents, waivers and approvals, including receipt of EXHIBIT M consents, waivers and approvals under applicable agreements, prior to a Default or Event of Default. The Pledgor acknowledges that there is no adequate remedy at law for failure by it to comply with the provisions of this Section 4.12 and that such failure would not be adequately compensable in damages, and therefore agrees that this Section 4.12, may be specifically enforced.

Further Approvals. In connection with the exercise by the Agent on behalf of the Secured Parties of its rights hereunder, it may be necessary to obtain the prior consent or approval of Governmental Authorities and other persons to a transfer or assignment of Collateral. The Each Pledgor hereby agrees, during the continuance of an Event of Default, to execute, deliver and file, and hereby appoints (to the extent permitted under applicable law) the Agent on behalf of the Secured Parties as its attorney, during the continuance of an Event of Default, to execute, deliver and file on the each Pledgor's behalf and in the each Pledgor's name, all applications, certificates, filings, instruments and other documents (including any application for an assignment or transfer of control or ownership) that may be necessary or appropriate, in the opinion of Agent's counsel, to obtain such consents, waivers or approvals. The Each Pledgor further agrees to use commercially reasonable efforts to obtain the foregoing consents, waivers and approvals, including receipt of EXHIBIT M consents, waivers and approvals under applicable agreements, prior to a Default or Event of Default. The Each Pledgor acknowledges that there is no adequate remedy at law for failure by it to comply with the provisions of this Section 4.12 4.16 and that such failure would not be adequately compensable in damages, and therefore agrees that this Section 4.12, 4.16 may be specifically enforced.