Common use of Powers of Collateral Agent Clause in Contracts

Powers of Collateral Agent. Following an Event of Default (as defined below), the Grantor appoints the Collateral Agent its attorney-in-fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement and may be exercised from time to time by the Collateral Agent’s officers and employees, or any of them: (a) to perform any obligation of the Grantor hereunder in the Grantor’s name or otherwise; (b) to give notice to account debtors or others of the Collateral Agent’s rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements; (c) to release persons or entities liable on Collateral and to give receipts and compromise disputes; (d) to release or substitute security; (e) to resort to security in any order; (f) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial UCC financing statements and amendments, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release the Collateral Agent’s interest in the Collateral; (g) to take cash, instruments for the payment of money and other property to which the Collateral Agent is entitled; (h) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name; (i) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to the Proceeds; dms.us.52791508.04 (j) to prepare, adjust, execute, deliver and receive payment under insurance claims, and to collect and receive payment of and endorse any instrument in payment of loss or returned premiums or any other insurance refund or return, and to apply such amounts received by the Collateral Agent, at the Collateral Agent’s sole option, toward repayment of the Obligations or replacement of the Collateral; (k) to exercise all rights, powers and remedies which the Grantor would have, but for this Agreement, with respect to all Collateral; (l) to enter onto the Grantor’s premises to inspect the Collateral; (m) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which the Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations; (n) to preserve or release the interest evidenced by chattel paper to which the Collateral Agent is entitled hereunder and to endorse and deliver any evidence of title to such interest; and (o) to do all acts and things and execute all documents in the name of the Grantor or otherwise, deemed by the Collateral Agent as necessary, proper and convenient in connection with the preservation, perfection or enforcement of the Collateral Agent’s rights.

Powers of Collateral Agent. Following an Event of Default (as defined below), the Grantor The Company appoints the Collateral Agent its attorney-in-true attorney in fact to perform any of the following powers, which are coupled with an interest, and are irrevocable until termination of this Agreement and may be exercised from time to time by the Collateral Agent’s officers and employees, or any of them: Agreement: (a) to perform any obligation of the Grantor Company hereunder in the Grantor’s Company's name or otherwise; ; (b) to give notice to account debtors or others of the Collateral Agent’s Agent and Noteholders' rights in the CollateralCollateral and Proceeds, to enforce or forebear from enforcing the same and to make extension or modification agreements; agreements with respect thereto; (c) to release persons or entities liable on Collateral or Proceeds and to give receipts and acquittances and compromise disputes; disputes in connection therewith; (d) to release or substitute security; ; (e) to resort to security in any order; ; (f) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial UCC financing statements and amendmentsstatements, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release the Collateral Agent’s Agent and Noteholders' interest in the Collateral; Collateral and Proceeds; (g) to take cash, instruments for the payment of money and other property to which the Collateral Agent is and Noteholders' are entitled; ; (h) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name; and Proceeds; (i) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to the Proceedsmoney; dms.us.52791508.04 (j) to prepare, adjust, execute, deliver and receive payment under insurance claims, and to collect and receive payment of and endorse any instrument in payment of loss or returned premiums or any other insurance refund or return, and to apply such amounts received by the Collateral Agent, at the Collateral Agent’s sole option, Agent and Noteholders toward repayment of the Secured Obligations or or, where appropriate, replacement of the Collateral; Inventory; (k) to exercise all rights, powers and remedies which the Grantor Company would have, but for this Agreement, with respect to all Collateral; Collateral and Proceeds subject hereto; (l) to enter onto the Grantor’s Company's premises to inspect in inspecting the Collateral; ; and (m) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which the Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations; (n) to preserve or release the interest evidenced by chattel paper to which the Collateral Agent is and Noteholders are entitled hereunder and to endorse and deliver any evidence evidences of title to such interestincidental thereto; and and (on) to do all acts and things and execute all documents in the name of the Grantor Company or otherwise, deemed by the Collateral Agent as necessary, proper and convenient in connection with the preservation, perfection or enforcement of its rights and the Collateral Agent’s rightsrights of the Noteholders hereunder.

Powers of Collateral Agent. Following an Event of Default (as defined below), the Grantor appoints the Collateral Agent its attorney-in-fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement and may be exercised from time to time by the Collateral Agent’s officers and employees, or any of them: (a) to perform any obligation of the Grantor hereunder in the Grantor’s name or otherwise; (b) to give notice to account debtors or others of the Collateral Agent’s rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements; (c) to release persons or entities liable on Collateral and to give receipts and compromise disputes; (d) to release or substitute security; (e) to resort to security in any order; (f) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial UCC financing statements and amendments, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release the Collateral Agent’s interest in the Collateral; (g) to take cash, instruments for the payment of money and other property to which the Collateral Agent is entitled; (h) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name; (i) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to the Proceeds; dms.us.52791508.04; (j) to prepare, adjust, execute, deliver and receive payment under insurance claims, and to collect and receive payment of and endorse any instrument in payment of loss or returned premiums or any other insurance refund or return, and to apply such amounts received by the Collateral Agent, at the Collateral Agent’s sole option, toward repayment of the Obligations or replacement of the Collateral; (k) to exercise all rights, powers and remedies which the Grantor would have, but for this Agreement, with respect to all Collateral; (l) to enter onto the Grantor’s premises to inspect the Collateral; (m) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which the Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations; (n) to preserve or release the interest evidenced by chattel paper to which the Collateral Agent is entitled hereunder and to endorse and deliver any evidence of title to such interest; and (o) to do all acts and things and execute all documents in the name of the Grantor or otherwise, deemed by the Collateral Agent as necessary, proper and convenient in connection with the preservation, perfection or enforcement of the Collateral Agent’s rights.