Common use of Irrevocable Appointments Clause in Contracts

Irrevocable Appointments. LLC Agreement of Deep Pacific, LLC - 21 The appointment by each Member of the Managing Member as its attorney-in-fact is irrevocable and shall be deemed to be a power coupled with an interest and shall survive the Bankruptcy, disability or incompetence of any person giving such power and the transfer or assignment of all or any part of the Interest of such person; provided, however, that in the event of the transfer by a Member of all or any part of its Interest, the power of attorney of a transferor Member shall survive such transfer only until such time, if any, as the transferee shall have been admitted to the Company as a substituted Member and all required documents and instruments shall have been duly executed, filed and recorded to effect such substitution.

Irrevocable Appointments. LLC Agreement of Deep Pacific, Pacific Longline Company LLC - 21 The appointment by each Member of the Managing Member as its attorney-in-fact is irrevocable and shall be deemed to be a power coupled with an interest and shall survive the Bankruptcy, disability or incompetence of any person giving such power and the transfer or assignment of all or any part of the Interest of such person; provided, however, that in the event of the transfer by a Member of all or any part of its Interest, the power of attorney of a transferor Member shall survive such transfer only until such time, if any, as the transferee shall have been admitted to the Company as a substituted Member and all required documents and instruments shall have been duly executed, filed and recorded to effect such substitution.