Common use of General Appointment Clause in Contracts

General Appointment. Client hereby appoints MetWest as Client's agent and attorney-in-fact with power and authority to (i) lend Client's Securities that are deposited in a Custodial Account to Borrowers, (ii) to arrange for Client to receive Collateral in respect of Loans and (iii) to manage Cash Collateral by making Investments pursuant to the terms of this Agreement. The appointment of MetWest is on a fully discretionary basis except that (i) Loans shall be made only to Borrowers whom Client has approved pursuant to Section 4.2 and shall not in the aggregate exceed the maximum lending capacity to such Borrower as described on the List of Borrowers and Counterparties and (ii) Investments shall be Permissible Investments. MetWest shall make no Loan to any Affiliate of MetWest or enter into any Investment pursuant to a transaction in which an Affiliate of MetWest acts as principal. Client further authorizes and appoints MetWest as Client's agent and attorney-in-fact with full power and authority (i) to establish on Client's behalf such trading accounts in Client's name as may be necessary to effect Loans and Investments of Cash Collateral, (ii) to execute and deliver such contracts and other documents on behalf of Client, as MetWest in its sole discretion deems necessary or advisable to establish such trading accounts or to effect Loans or Investments and (iii) to act, in MetWest's sole discretion in Client's name to enforce any remedies available to Client under any such contracts or documents.