POWERS OF LENDER. Each Grantor appoints Lender 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 Lender's officers and employees, or any of them, whether or not an Event of Default has occurred: (a) to perform any obligation of Grantor hereunder in Grantor's name or otherwise; (b) to give notice to Account Debtors or others of Lender's rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements; (c) to release Persons 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 financing statements and amendments, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's interest in the Collateral; (g) to receive, open and read mail addressed to Grantor; (h) to take cash, instruments for the payment of money and other property to which Lender is entitled; (i) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name; (j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral; (k) 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 Lender, at Lender's sole option, toward repayment of the Obligations or replacement of the Collateral; (l) to exercise all rights, powers and remedies which Grantor would have, but for this Agreement, with respect to all Collateral; (m) to enter onto Grantor's premises to inspect the Collateral during normal business hours; (n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations; (o) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and (p) to do all acts and things and execute all documents in the name of Grantor or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfection, priority or enforcement of Lender's rights.
Appears in 1 contract
Sources: Security Agreement (Industrial Services of America Inc /Fl)
POWERS OF LENDER. Each Grantor Debtor appoints the Lender its true 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 Lender's officers and employees, or any of them, whether or not an Event of Default has occurred:
: (a) to perform any obligation of Grantor Debtor hereunder in GrantorDebtor's name or otherwise;
; (b) to give notice to Account Debtors account debtors or others of the Lender's rights in the CollateralCollateral and Proceeds, to enforce or forebear from enforcing the same and to make extension or and modification agreements;
agreements with respect thereto; (c) to release Persons persons 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 financing statements and amendmentsstatements, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release the Lender's interest in the Collateral;
Collateral and Proceeds; (g) to receive, open and read mail addressed to Grantor;
Debtor; (h) to take cash, instruments for the payment of money and other property to which the Lender is entitled;
; (i) to verify facts concerning the Collateral and Proceeds by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
; (j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
Proceeds; (k) 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 Lender, at Lender's sole option, the Lender toward repayment of the Secured Obligations or or, where appropriate and if approved by the Secured Creditors, replacement of the Collateral;
; (l) to exercise all rights, powers and remedies which Grantor Debtor would have, but for this Agreement, with respect to all Collateral;
Collateral and Proceeds subject hereto; (m) to enter onto GrantorDebtor's premises to inspect in inspecting the Collateral during normal business hours;
Collateral; (n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Secured Obligations;
; (o) to preserve or release the interest evidenced by chattel paper to which the Lender is entitled hereunder and to endorse and deliver any evidence of title to such interestincidental thereto; and
and (p) to do all acts and things and execute all documents in the name of Grantor Debtor or otherwise, deemed by the Lender as necessary, proper and convenient in connection with the preservation, perfection, priority perfection or enforcement of Lender's rightsits rights hereunder; provided however, that the Lender shall not take any of the above actions to the extent inconsistent with the rights of Fidelity Funding Business Credit, Ltd. pursuant to the USA Obligations. The Lender shall exercise its rights as attorney in fact under this Agreement only upon the occurrence and continuation of an Event of Default (as that term is defined in the Note).
Appears in 1 contract
Sources: Security Agreement (Pacifichealth Laboratories Inc)
POWERS OF LENDER. Each Grantor appoints Lender 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 Lender's officers and employees, or any of them, whether or not an Event of Default has occurred:
(a) to perform any obligation of each Grantor hereunder in such Grantor's name or otherwise;
(b) to give notice to Account Debtors or others of Lender's rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements;
(c) to release Persons 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 financing statements and amendments, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's interest in the Collateral;
(g) to receive, open and read mail addressed to any Grantor;
(h) to take cash, instruments for the payment of money and other property to which Lender is entitled;
(i) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
(j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
(k) 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 Lender, at Lender's sole option, toward repayment of the Obligations or replacement of the Collateral;
(l) to exercise all rights, powers and remedies which any Grantor would have, but for this Agreement, with respect to all Collateral;
(m) to enter onto any Grantor's premises to inspect the Collateral during normal business hoursCollateral;
(n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
(o) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and
(p) to do all acts and things and execute all documents in the name of any Grantor or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfection, priority or enforcement of Lender's ’s rights.
Appears in 1 contract
POWERS OF LENDER. Each Grantor Debtor appoints Lender its true 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 Lender's officers and employees, or any of them, whether : (a) upon or not following the occurrence of an Event of Default has occurred:
(a) Default, to perform any obligation of Grantor Debtor hereunder in GrantorDebtor's name or otherwise;
; (b) upon or following the occurrence of an Event of Default, to give notice to Account Debtors or others of Lender's rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements;
agreements with respect thereto; (c) to release Persons liable on Collateral and to give receipts and compromise disputes;
(d) to release upon or substitute security;
(e) following the occurrence of an Event of Default, to resort to security in any order;
; (fd) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial financing statements and amendmentsstatements, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's interest in the Collateral;
; (ge) upon or following the occurrence of an Event of Default, to receive, open and read mail addressed to Grantor;
(h) to take cash, instruments for the payment of money and other property to which Lender is entitled;
(i) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
(j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
(k) to reasonably prepare, adjust, execute, deliver and receive payment under insurance claims, and to reasonably 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 Lender, at Lender's sole option, toward repayment of the Obligations Secured Obligations; (f) upon or replacement following the occurrence of the Collateral;
(l) an Event of Default, to exercise all rights, powers and remedies which Grantor Debtor would have, but for this Agreement, with respect to all Collateral;
; and (m) to enter onto Grantor's premises to inspect the Collateral during normal business hours;
(n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
(o) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and
(pg) to do all acts and things and execute all documents in the name of Grantor Debtor or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfectionperfection or, priority upon or following the occurrence of an Event of Default, enforcement of its rights hereunder. 8. PAYMENT OF PREMIUMS, TAXES, CHARGES, LIENS AND ASSESSMENTS. Debtor agrees to pay, prior to delinquency, all insurance premiums, taxes, charges, liens and assessments against the Collateral (except those which Debtor is contesting in good faith, which shall be paid promptly after resolution of the dispute), and upon the failure of Debtor to do so, Lender's rights, at its option, may pay any of them and shall be the sole judge of the legality or validity thereof and the amount necessary to discharge the same. Any such payments made by Lender shall be obligations of Debtor, due and payable immediately upon demand, together with interest at a rate determined in accordance with the provisions hereof, and shall be secured by the Collateral, subject to all terms and conditions of this Agreement.
Appears in 1 contract
Sources: Security Agreement (Bbooth, Inc.)
POWERS OF LENDER. Each Grantor Debtor appoints Lender its true 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 Lender's officers and employees, or any of them, whether : (a) upon or not following the occurrence of an Event of Default has occurred:
(a) Default, to perform any obligation of Grantor Debtor hereunder in GrantorDebtor's name or otherwise;
; (b) upon or following the occurrence of an Event of Default, to give notice to Account Debtors or others of Lender's rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements;
agreements with respect thereto; (c) to release Persons liable on Collateral and to give receipts and compromise disputes;
(d) to release upon or substitute security;
(e) following the occurrence of an Event of Default, to resort to security in any order;
; (fd) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial financing statements and amendmentsstatements, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's interest in the Collateral;
; (ge) upon or following the occurrence of an Event of Default, to receive, open and read mail addressed to Grantor;
(h) to take cash, instruments for the payment of money and other property to which Lender is entitled;
(i) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
(j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
(k) to reasonably prepare, adjust, execute, deliver and receive payment under insurance claims, and to reasonably 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 Lender, at Lender's sole option, toward repayment of the Obligations Secured Obligations; (f) upon or replacement following the occurrence of the Collateral;
(l) an Event of Default, to exercise all rights, powers and remedies which Grantor Debtor would have, but for this Agreement, with respect to all Collateral;
; and (m) to enter onto Grantor's premises to inspect the Collateral during normal business hours;
(n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
(o) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and
(pg) to do all acts and things and execute all documents in the name of Grantor Debtor or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfectionperfection or, priority upon or following the occurrence of an Event of Default, enforcement of Lender's rightsits rights hereunder.
Appears in 1 contract
Sources: Security Agreement (Bbooth, Inc.)
POWERS OF LENDER. (a) Each Grantor appoints Lender its attorney in fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement Agreement, payment in full of all Obligations and termination of all commitments of Lender under the Credit Agreement, and may be exercised from time to time by Lender's ’s officers and employees, or any of them, whether or not an Event of Default has occurred:
: (ai) to perform any obligation of Grantor hereunder in Grantor's ’s name or otherwise;
; (bii) to give notice to Account Debtors or others of Lender's ’s rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements;
; (c) to release Persons liable on Collateral and to give receipts and compromise disputes;
(diii) to release or substitute security;
; (e) to resort to security in any order;
(fiv) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial financing statements and amendments, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's ’s interest in the Collateral;
; (g) to receive, open and read mail addressed to Grantor;
(hv) to take cash, instruments for the payment of money and other property to which Lender is entitled;
; (ivi) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
; (j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
(kvii) 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 Lender, at Lender's ’s sole option, toward repayment of the Obligations or replacement or restoration of the Collateral;
; (l) to exercise all rights, powers and remedies which Grantor would have, but for this Agreement, with respect to all Collateral;
(mviii) to enter onto Grantor's ’s premises to inspect the Collateral during normal business hours;
Collateral; (nix) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
; (ox) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and
and (pxi) to do all acts and things and execute all documents in the name of Grantor or otherwise, deemed by Lender as reasonably necessary, proper and convenient in connection with the preservation, perfection, priority or enforcement of Lender's ’s rights.
(b) Each Grantor appoints Lender its attorney in fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement, payment in full of all Obligations and termination of all commitments of Lender under the Credit Agreement, and may be exercised from time to time by Lender’s officers and employees, or any of them, after the occurrence and during the continuation of an Event of Default: (i) to enforce or forebear from enforcing the rights of Lender with respect to any Account Debtor and to make extension or modification agreements with any Account Debtor; (ii) to resort to security in any order; (iii) to receive, open and read mail addressed to Grantor; (iv) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral; (v) to release Persons liable on Collateral and to give receipts and compromise disputes between Grantor and such Persons; and (vi) to exercise all rights, powers and remedies which Grantor would have, but for this Agreement, with respect to all Collateral.
Appears in 1 contract
POWERS OF LENDER. Each (a) Grantor appoints Lender its attorney in fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement Agreement, payment in full of all Obligations and termination of all commitments of Lender under the Credit Agreement, and may be exercised from time to time by Lender's ’s officers and employees, or any of them, whether or not an Event of Default has occurred:
: (ai) to perform any obligation of Grantor hereunder in Grantor's ’s name or otherwise;
; (bii) to give notice to Account Debtors or others of Lender's ’s rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements;
; (c) to release Persons liable on Collateral and to give receipts and compromise disputes;
(diii) to release or substitute security;
; (e) to resort to security in any order;
(fiv) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial financing statements and amendments, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's ’s interest in the Collateral;
; (g) to receive, open and read mail addressed to Grantor;
(hv) to take cash, instruments for the payment of money and other property to which Lender is entitled;
; (ivi) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
; (j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
(kvii) 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 Lender, at Lender's ’s sole option, toward repayment of the Obligations or replacement or restoration of the Collateral;
; (l) to exercise all rights, powers and remedies which Grantor would have, but for this Agreement, with respect to all Collateral;
(mviii) to enter onto Grantor's ’s premises to inspect the Collateral during normal business hours;
Collateral; (nix) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
; (ox) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and
and (pxi) to do all acts and things and execute all documents in the name of Grantor or otherwise, deemed by Lender as reasonably necessary, proper and convenient in connection with the preservation, perfection, priority or enforcement of Lender's ’s rights.
(b) Grantor appoints Lender its attorney in fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement, payment in full of all Obligations and termination of all commitments of Lender under the Credit Agreement, and may be exercised from time to time by Lender’s officers and employees, or any of them, after the occurrence and during the continuation of an Event of Default: (i) to enforce or forebear from enforcing the rights of Lender with respect to any Account Debtor and to make extension or modification agreements with any Account Debtor; (ii) to resort to security in any order; (iii) to receive, open and read mail addressed to Grantor; (iv) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral; (v) to release Persons liable on Collateral and to give receipts and compromise disputes between Grantor and such Persons; and (vi) to exercise all rights, powers and remedies which Grantor would have, but for this Agreement, with respect to all Collateral.
Appears in 1 contract
POWERS OF LENDER. Each Grantor Borrower appoints Lender its true attorney in fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement Agreement, and may be exercised from time to time by Lender's officers ’s officers, employees, and employeesagents, or any of them, whether or not an Event of Default has occurred:
: (a) to perform any obligation of Grantor Borrower hereunder in Grantor's Borrower’s name or otherwise;
; (b) to give notice to Account Debtors account debtors or others of Lender's ’s rights in the CollateralCollateral and Proceeds, and if a Default has occurred, to enforce or forebear from enforcing the same and to make extension or modification agreements;
agreements with respect thereto; (c) if a Default has occurred, to release Persons persons liable on Collateral or Proceeds and to give receipts and acquittances and compromise disputes;
disputes in connection therewith; (d) if a Default has occurred, to release or substitute security;
; (e) if a Default has occurred, to resort to security in any order;
; (f) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial financing statements and amendmentsstatements, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's ’s interest in the Collateral;
Collateral and Proceeds; (g) if a Default has occurred, to receive, open and read mail addressed to Grantor;
Borrower; (h) if a Default has occurred, to take cash, instruments for the payment of money and other property to which Lender is entitled;
; (i) to verify facts concerning the Collateral and Proceeds by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
; (j) if a Default has occurred, to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
Proceeds; (k) if a Default has occurred, 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 Lender, at Lender's ’s sole option, toward repayment of the Secured Obligations or or, where appropriate, replacement of the Collateral;
; (l) if a Default has occurred, to exercise all rights, powers and remedies which Grantor Borrower would have, but for this Agreement, with respect to all Collateral;
Collateral and Proceeds subject hereto; (m) to enter onto Grantor's premises to inspect the Collateral during normal business hours;
(n) if a Default has occurred, to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Secured Obligations;
; (on) if a Default has occurred, to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence evidences of title to such interestincidental thereto; and
and (po) to do all acts and things and execute all documents in the name of Grantor Borrower or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfection, priority perfection or enforcement of Lender's rightsits rights hereunder.
Appears in 1 contract
POWERS OF LENDER. Each Grantor appoints Lender 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 Lender's ’s officers and employees, or any of them, whether or not an Event of Default has occurred:
(a) upon the occurrence and during the continuance of an Event of Default, to perform any obligation of Grantor hereunder in Grantor's ’s name or otherwise;
(b) upon the occurrence and during the continuance of an Event of Default, to give notice to Account Debtors or others of Lender's ’s rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements;
(c) upon the occurrence and during the continuance of an Event of Default, to release Persons 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 financing statements and amendments, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's ’s interest in the Collateral;
(g) upon the occurrence and during the continuance of an Event of Default, to receive, open and read mail addressed to Grantor;
(h) to take cash, instruments for the payment of money and other property to which Lender is entitled;
(i) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
(j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
(k) 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 Lender, at Lender's ’s sole option, toward repayment of the Obligations or replacement of the Collateral;
(l) upon the occurrence and during the continuance of an Event of Default, to exercise all rights, powers and remedies which Grantor would have, but for this Agreement, with respect to all Collateral;
(m) to enter onto Grantor's ’s premises to inspect the Collateral during normal business hoursat any reasonable time and upon prior written notice (which notice shall not be necessary if a Default or Event of Default exists or Lender reasonably believes that a Default or Event of Default exists);
(n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
(o) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and
(p) to do all acts and things and execute all documents in the name of Grantor or otherwise, deemed by Lender as reasonably necessary, proper and convenient in connection with the preservation, perfection, priority or enforcement of Lender's ’s rights.
Appears in 1 contract
POWERS OF LENDER. Each Grantor Debtor appoints Lender its true 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 Lender's officers and employees, or any of them, whether or not : (a) during the continuance of an Event of Default has occurred:
(a) Default, to perform any obligation of Grantor Debtor hereunder in GrantorDebtor's name or otherwise;
; (b) to give notice to Account Debtors account debtors or others of Lender's rights in the CollateralCollateral and Proceeds, and, during the continuance of an Event of Default, to enforce or forebear from enforcing the same and to make extension or and modification agreements;
agreements with respect thereto; (c) during the continuance of an Event of Default, to release Persons persons 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) during the continuance of an Event of Default, to resort to security in any order;
; (f) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial financing statements and amendmentsstatements, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's interest in the Collateral;
Collateral and Proceeds, including, during the continuance of an Event of Default, the filing and prosecuting of registration and transfer applications with appropriate federal or local agencies or authorities with respect to trademarks, copyrights, and patentable inventions and processes; (g) during the continuance of an Event of Default, to receive, open and read mail addressed to Grantor;
Debtor; (h) during the continuance of an Event of Default, to take cash, instruments for the payment of money and other property to which Lender is entitled;
; (i) during the continuance of an Event of Default, to verify facts concerning the Collateral and Proceeds by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
; (j) during the continuance of an Event of Default, to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
Proceeds; (k) during the continuance of an Event of Default, 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 Lender, at Lender's sole option, toward repayment of the Obligations or Indebtedness or, where appropriate, replacement of the Collateral;
; (l) during the continuance of an Event of Default, to exercise all rights, powers and remedies which Grantor Debtor would have, but for this Agreement, with respect to all Collateral;
Collateral and Proceeds subject hereto; (m) to enter onto GrantorDebtor's premises to inspect in inspecting the Collateral during normal business hours;
Collateral; (n) during the continuance of an Event of Default, to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
Indebtedness; (o) during the continuance of an Event of Default, to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interestincidental thereto; and
and (p) during the continuance of an Event of Default, to do all acts and things and execute all documents in the name of Grantor Debtor or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfection, priority perfection or enforcement of Lender's rightsits rights hereunder.
Appears in 1 contract
POWERS OF LENDER. Each Grantor Houston Dynamic appoints Lender its true 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 Lender's officers and employees, or any of them, whether or not an Event of Default has occurred:
Houston Dynamic is in default: (a) to perform any obligation of Grantor Houston Dynamic hereunder in GrantorHouston Dynamic's name or otherwise;
; (b) to give notice to Account Debtors account debtors or others of Lender's 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 persons 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 financing statements and amendmentsstatements, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's interest in the Collateral;
Collateral and Proceeds; (g) to receive, open and read mail addressed to Grantor;
Houston Dynamic; (h) to take cash, instruments for the payment of money and other property to which Lender is entitled;
(i) to verify facts concerning the Collateral and Proceeds by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
; (ji) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
Proceeds; (kj) 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 Lender, at Lender's sole option, toward repayment of the Obligations or Indebtedness or, where appropriate, replacement of the Collateral;
; (lk) to exercise all rights, powers and remedies which Grantor Houston Dynamic would have, but for this Agreement, with respect to all Collateral;
Collateral and Proceeds subject hereto; (ml) to enter onto GrantorHouston Dynamic's premises to inspect in inspecting the Collateral during normal business hours;
Collateral; and (n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
(o) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and
(pm) to do all acts and things and execute all documents in the name of Grantor Houston Dynamic or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfection, priority perfection or enforcement of Lender's rightsits rights hereunder.
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POWERS OF LENDER. Each Grantor appoints Lender its true 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 Lender's ▇▇▇▇▇▇’s officers and employees, or any of them, whether or not an Event of Default has occurred:
such Grantor is in default: (a) to perform any obligation of such Grantor hereunder in that Grantor's ’s name or otherwise;
; (b) to give notice to Account Debtors account Grantors or others of Lender's ’s rights in the CollateralCollateral and Proceeds, to enforce or forebear from enforcing the same and to make extension or and modification agreements;
agreements with respect thereto; (c) to release Persons persons liable on Collateral or Proceeds and to give receipts and acquittances and compromise disputes;
disputes in connection therewith; (d) to release or substitute security;
security securing obligations owing to such Grantor; (e) to resort in any order to security in any order;
securing obligations owing to the relevant Grantor; (f) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, initial financing statements and amendmentsstatements, continuation statements, termination statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Lender's ’s interest in the Collateral;
Collateral and Proceeds; (g) to receive, open and read mail addressed to such Grantor;
; (h) to take cash, instruments for the payment of money and other property to which Lender is entitled;
; (i) to verify facts concerning the Collateral and Proceeds by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
; (j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
Proceeds; (k) 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 Lender, at Lender's ’s sole option, toward repayment of the Obligations or Indebtedness secured hereby or, where appropriate, replacement of the Collateral;
; (l) to exercise all rights, powers and remedies which such Grantor would have, but for this Agreement, with respect to all Collateral;
Collateral and Proceeds subject hereto; (m) to enter onto such Grantor's ’s premises to inspect in inspecting the Collateral during normal business hours;
Collateral; (n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
Indebtedness secured hereby; (o) to preserve or release the interest evidenced by chattel paper to which Lender ▇▇▇▇▇▇ is entitled hereunder and to endorse and deliver any evidence of title to such interestincidental thereto; and
and (p) to do all acts and things and execute all documents in the name of the relevant Grantor or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfection, priority perfection or enforcement of its rights hereunder. 10 PAYMENT OF PREMIUMS, TAXES, CHARGES, LIENS AND ASSESSMENTS. Grantor agrees to pay, prior to delinquency, all insurance premiums, taxes, charges, liens and assessments against the Collateral and Proceeds, and upon the failure of any Grantor to do so, Lender at its option may pay any of them and shall be the sole judge of the legality or validity thereof and the amount necessary to discharge the same. Any such payments made by Lender shall be obligations of such Grantor to Lender's rights, due and payable immediately upon demand, and at ▇▇▇▇▇▇’s option and subject to any restrictions under applicable law pertaining to usury, together with interest at a rate determined in accordance with the provisions of this Agreement, and shall be secured by the Collateral and Proceeds, subject to all terms and conditions of this Agreement.
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Sources: Security Agreement (Englobal Corp)
POWERS OF LENDER. Each Grantor appoints Lender 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 Lender's officers and employees, or any of them, upon the occurrence and during the continuance of an Event of Default (or, with respect to (c), (d), (f), (g), (h), (i), (j), (k), (m), (o) and (p), whether or not an Event of Default has occurred:
(a) to perform any obligation of Grantor hereunder in Grantor's name or otherwise;
(b) to give notice to Account Debtors or others of Lender's rights in the Collateral, to enforce or forebear from enforcing the same and to make extension or modification agreements;
(c) to release Persons 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 financing statements and amendments, continuation statements, termination statements, statements of assignment, applications for registration or like papers as Lender deems necessary or desirable to perfect, preserve or release Lender's interest in the Collateral;
(g) to receive, open and read mail addressed to Grantor;
(h) to take cash, instruments for the payment of money and other property to which Lender is entitled;
(i) to verify facts concerning the Collateral by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name;
(j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or relating to Collateral;
(k) 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 Lender, at Lender's sole option, toward repayment of the Obligations or replacement of the Collateral;
(l) to exercise all rights, powers and remedies which Grantor would have, but for this Agreement, with respect to all Collateral;
(m) to enter onto Grantor's premises to inspect the Collateral during normal business hoursin accordance with the terms of the Credit Agreement;
(n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever locatedlocated (other than the Controlled Account described in the Credit Agreement, with respect to which Lender may make withdrawals at any time and apply funds to the Obligations), into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Obligations;
(o) to preserve or release the interest evidenced by chattel paper to which Lender is entitled hereunder and to endorse and deliver any evidence of title to such interest; and
(p) to do all acts and things and execute all documents in the name of Grantor or otherwise, deemed by Lender as necessary, proper and convenient in connection with the preservation, perfection, priority or enforcement of Lender's rights’s rights in the Collateral.
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