Common use of Without Express Authority Clause in Contracts

Without Express Authority. The Custodian may, in its discretion and without express authority from the Purchaser: (a) endorse for collection, in the name of the Purchaser, checks, drafts and other negotiable instruments; and (b) in general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the Additional Collateral of the Purchaser except as otherwise provided by proper instructions.

Without Express Authority. The Custodian may, in its discretion and without express authority from the Purchaser: (a) endorse for collection, in the name of the Purchaser, checks, drafts and other negotiable instruments; and (b) in general, Purchaser attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the Additional Collateral of the Purchaser except as otherwise provided by proper instructions.