Example ContractsClausesattorney costsVariants
Remove:

Power of Attorney. Each Borrower hereby appoints Agent, and its agents and designees, the true and lawful agents and attorneys-in-fact of such Borrower, with full power of substitution, # to # during the continuance of an Event of Default, upon prior written notice to Borrowers, receive, open and dispose of all mail addressed to such Borrower relating to the Collateral, # during the continuance of an Event of Default, upon prior written notice to Borrowers, notify and direct the United States Post Office authorities by notice given in the name of such Borrower and signed on its behalf, to change the address for delivery of all mail addressed to such Borrower relating to the Collateral to an address to be designated by Agent, and to cause such mail to be delivered to such designated address where Agent may open all such mail and remove therefrom any notes, checks, acceptances, drafts, money orders or other instruments in payment of the Collateral in which Agent has a security interest hereunder and any documents relative thereto, with full power to endorse the name of such Borrower upon any such notes, checks, acceptances, drafts, money order or other form of payment or on Collateral or security of any kind and to effect the deposit and collection thereof, and Agent shall have the further right and power to endorse the name of such Borrower on any documents otherwise relating to such Collateral, # during the continuance of an Event of Default, upon prior or contemporaneous written notice to Borrowers, send notices to such Contract Debtors or account debtors, and # during the continuance of an Event of Default, do any and all other things necessary or proper to carry out the intent of this Agreement; and # at all times, to do any and all other things necessary or proper to perfect and protect the Liens and rights of Agent and Lenders created under this Agreement. Each Borrower agrees that neither Agent or any Lender nor any of its agents, designees or attorneys-in-fact will be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law, except for those arising from the gross negligence or willful misconduct of the Agent or any Lender or any of their agents, designees or attorneys-in-fact.

Section # Power of Attorney. EachThe Borrower hereby irrevocably appoints Agent, andthe Administrative Agent its agents and designees, the true and lawful agents and attorneys-in-fact of such Borrower, withattorney (with full power of substitution, # to #substitution) in its name, place and stead and at its expense, upon the occurrence and during the continuance of an Event of Default, upon prior written noticeDefault and deemed occurrence or declaration of the Maturity Date pursuant to Borrowers, receive, open[Section 10.01(b)], in connection with the enforcement of the rights and dispose ofremedies provided for in this Article, including # to give any necessary receipts or acquittance for amounts collected or received hereunder, # to make all mail addressed to such Borrower relating to the Collateral, # during the continuance of an Event of Default, upon prior written notice to Borrowers, notify and direct the United States Post Office authorities by notice given in the name of such Borrower and signed on its behalf, to change the address for delivery of all mail addressed to such Borrower relating to the Collateral to an address to be designated by Agent, and to cause such mail to be delivered to such designated address where Agent may open all such mail and remove therefrom any notes, checks, acceptances, drafts, money orders or other instruments in paymentnecessary transfers of the Collateral in which Agent has a security interestconnection with any sale or other disposition made pursuant hereto, # to execute and deliver for value all necessary or appropriate bills of sale, assignments and other instruments in connection with any such sale or other disposition, the Borrower thereby ratifying and confirming all that such attorney (or any substitute) shall lawfully do hereunder and pursuant hereto and # to sign any agreements, orders or other documents relative thereto,in connection with full poweror pursuant to endorseany Basic Document. Nevertheless, if so requested by the nameAdministrative Agent, directly or through a purchaser of suchany of the Collateral, the Borrower uponshall ratify and confirm any such notes, checks, acceptances, drafts, money ordersale or other form of payment or on Collateral or security of any kinddisposition by executing and delivering to effect the deposit and collection thereof, and Agent shall have the further right and power to endorse the name of such Borrower on any documents otherwise relating to such Collateral, # during the continuance of an Event of Default, upon prior or contemporaneous written notice to Borrowers, send notices to such Contract Debtors or account debtors, and # during the continuance of an Event of Default, do any and all other things necessary or proper to carry out the intent of this Agreement; and # at all times, to do any and all other things necessary or proper to perfect and protect the Liens and rights of Agent and Lenders created under this Agreement. Each Borrower agrees that neitherAdministrative Agent or such purchaser all proper bills of sale, assignments, releases and other instruments as may be designated in any Lender nor any of its agents, designees or attorneys-in-fact will be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law, except for those arising from the gross negligence or willful misconduct of the Agent or any Lender or any of their agents, designees or attorneys-in-fact.such request.

Power8.7Power of Attorney. Each Borrower hereby irrevocably constitutes and appoints Agent, and its agents and designees, theAgent (and all Persons designated by Agent) as such Borrower’s true and lawful agents and attorneys-attorney (and agent-in-fact of such Borrower, with full power of substitution, # to # duringfact) for the continuance ofpurposes provided in this Section. Agent, or Agent’s designee, may, during an Event of Default, upon prior writtenwithout notice to Borrowers, receive, open and disposein either its or a Borrower’s name, but at the cost and expense of all mail addressed to such Borrower relating to the Collateral, # during the continuance of an Event of Default, upon prior written notice to Borrowers, notify and direct the United States Post Office authorities by notice given in the name of such Borrower and signed on its behalf, to change the address for delivery of all mail addressed to such Borrower relating to the Collateral to an address to be designated by Agent, and to cause such mail to be delivered to such designated address where Agent may open all such mail and remove therefrom any notes, checks, acceptances, drafts, money orders or other instruments in payment of the Collateral in which Agent has a security interest hereunder and any documents relative thereto, with full power to endorse the name of such Borrower upon any such notes, checks, acceptances, drafts, money order or other form of payment or on Collateral or security of any kind and to effect the deposit and collection thereof, and Agent shall have the further right and power to endorse the name of such Borrower on any documents otherwise relating to such Collateral, # during the continuance of an Event of Default, upon prior or contemporaneous written notice to Borrowers, send notices to such Contract Debtors or account debtors, and # during the continuance of an Event of Default, do any and all other things necessary or proper to carry out the intent of this Agreement; and # at all times, to do any and all other things necessary or proper to perfect and protect the Liens and rights of Agent and Lenders created under this Agreement. Each Borrower agrees that neither Agent or any Lender nor any of its agents, designees or attorneys-in-fact will be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law, except for those arising from the gross negligence or willful misconduct of the Agent or any Lender or any of their agents, designees or attorneys-in-fact.Borrowers:

Power of Attorney. Each Borrower hereby irrevocably appoints Agent,Bank as its lawful attorney-in-fact, exercisable upon the occurrence and its agents and designees, the true and lawful agents and attorneys-in-fact of such Borrower, with full power of substitution, # to # during the continuance of an Event of Default, upon prior written notice to Borrowers, receive, opento: # endorse Borrower’s name on any checks or other forms of payment or security; # sign Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors; # settle and dispose ofadjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Bank determines reasonable; # make, settle, and adjust all mail addressed to such Borrower relatingclaims under Borrower’s insurance policies; # pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and # duringtransfer the continuanceCollateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to sign Borrower’s name on any documents necessary to perfect or continue the perfection of Bank’s security interest in the Collateral regardless of whether an Event of Default, upon prior written notice to Borrowers, notify and direct the United States Post Office authorities by notice given in the name of such Borrower and signed on its behalf, to change the address for delivery ofDefault has occurred until all mail addressed to such Borrower relating to the Collateral to an address to be designated by Agent, and to cause such mail to be delivered to such designated address where Agent may open all such mail and remove therefrom any notes, checks, acceptances, drafts, money orders or other instruments in payment of the Collateral in which Agent has a security interest hereunderObligations (other than inchoate indemnity obligations, and any documents relative thereto,other obligations which, by their terms, are to survive the termination of this Agreement, and any Obligations under Bank Services Agreements that are cash collateralized in accordance with [Section 4.1] of this Agreement) have been satisfied in full powerand Bank is under no further obligation to endorse the name of such Borrower upon any such notes, checks, acceptances, drafts, money order or other form of payment or on Collateral or security of any kind and to effect the deposit and collection thereof, and Agent shall have the further right and power to endorse the name of such Borrower on any documents otherwise relating to such Collateral, # during the continuance of an Event of Default, upon prior or contemporaneous written notice to Borrowers, send notices to such Contract Debtors or account debtors, and # during the continuance of an Event of Default, do anymake Credit Extensions hereunder. Bank’s foregoing appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, coupled with an interest, are irrevocable until all Obligations (other than inchoate indemnity obligations, and any other things necessary or properobligations which, by their terms, are to carry outsurvive the intenttermination of this Agreement;Agreement, and # at all times,any Obligations under Bank Services Agreements that are cash collateralized in accordance with [Section 4.1] of this Agreement) have been fully repaid and performed and Bank’s obligation to do any and all other things necessary or proper to perfect and protect the Liens and rights of Agent and Lenders created under this Agreement. Each Borrower agrees that neither Agent or any Lender nor any of its agents, designees or attorneys-in-fact will be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law, except for those arising from the gross negligence or willful misconduct of the Agent or any Lender or any of their agents, designees or attorneys-in-fact.provide Credit Extensions terminates.

Power of Attorney. Each Borrower and Guarantor hereby irrevocably designates and appoints Agent,Administrative Agent (and all persons designated by Administrative Agent) as such Borrower’s and its agents and designees, theGuarantor’s true and lawful agentsattorney-in-fact, and attorneys-in-fact ofauthorizes Administrative Agent, in such Borrower, with full power of substitution,Borrower’s, Guarantor’s or Administrative Agent’s name, to: # to # during the continuance ofat any time on and after an Event of Default,Default exists or has occurred and is continuing # demand payment on Receivables or other Collateral, # enforce payment of Receivables by legal proceedings or otherwise, # exercise all of such Borrower’s or Guarantor’s rights and remedies to collect any Receivable or other Collateral, # sell or assign any Receivable upon prior written noticesuch terms, for such amount and at such time or times as the Administrative Agent deems advisable, # settle, adjust, compromise, extend or renew an Account, # discharge and release any Receivable, # prepare, file and sign such Borrower’s or Guarantor’s name on any proof of claim in bankruptcy or other similar document against an Account Debtor or other obligor in respect of any Receivables or other Collateral, # notify the post office authorities to Borrowers, receive,change the address for delivery of remittances from Account Debtors or other obligors in respect of Receivables or other proceeds of Collateral to an address designated by Administrative Agent, and open and dispose of all mail addressed to such Borrower or Guarantor and handle and store all mail relating to the Collateral, # during the continuance of an Event of Default, upon prior written notice to Borrowers, notify and direct the United States Post Office authorities by notice given in the name of such Borrower and signed on its behalf, to change the address for delivery of all mail addressed to such Borrower relating to the Collateral to an address to be designated by Agent, and to cause such mail to be delivered to such designated address where Agent may open all such mail and remove therefrom any notes, checks, acceptances, drafts, money orders or other instruments in payment of the Collateral in which Agent has a security interest hereunder and any documents relative thereto, with full power to endorse the name of such Borrower upon any such notes, checks, acceptances, drafts, money order or other form of payment or on Collateral or security of any kind and to effect the deposit and collection thereof, and Agent shall have the further right and power to endorse the name of such Borrower on any documents otherwise relating to such Collateral, # during the continuance of an Event of Default, upon prior or contemporaneous written notice to Borrowers, send notices to such Contract Debtors or account debtors,Collateral; and # duringdo all acts and things which are necessary, in Administrative Agent’s determination, to fulfill such Borrower’s or Guarantor’s obligations under this Agreement and the continuance of an Event of Default, do any and all other things necessary or proper to carry out the intent of this Agreement;Financing Agreements and # at all times,times that Administrative Agent has exercised its right to doinstruct the depository banks at which Blocked Accounts are maintained to transfer funds to the Administrative Agent Payment Account as provided in [Section 6.3] hereto (or at any and all other things necessary or propertime that any item of payment referred to perfect and protect the Liens and rights of Agent and Lenders created under this Agreement. Each Borrower agrees that neitherbelow may be received by Administrative Agent or any Lender norLender), to # take control in any manner of its agents, designeesany item of payment in respect of Receivables or attorneys-in-fact will be liable for any acts of commissionconstituting Collateral or omission,otherwise received in or for any error of judgmentdeposit in the Blocked Accounts or mistake of fact or law, except for those arising from the gross negligence or willful misconduct of theotherwise received by Administrative Agent or any Lender, # have access to any lockbox or postal box into which remittances from Account Debtors or other obligors in respect of Receivables or other proceeds of Collateral are sent or received, # endorse such Borrower’s or Guarantor’s name upon any items of payment in respect of Receivables or constituting Collateral or otherwise received by Administrative Agent and any Lender and deposit the same in Administrative Agent’s account for application to the Obligations, and # at any time to # endorse such Borrower’s or Guarantor’s name upon any chattel paper, document, instrument, invoice, or similar document or agreement relating to any Receivable or any goods pertaining thereto or any other Collateral, including any warehouse or other receipts, or bills of their agents, designeeslading and other negotiable or attorneys-in-fact.non-negotiable documents, # clear Inventory the purchase of which was financed with Letter of Credit Accommodations through U.S. Customs or foreign export control authorities in such Borrower’s or Guarantor’s name, Administrative Agent’s name or the name of Administrative Agent’s designee, and to sign and deliver to customs officials powers of attorney in such Borrower’s or Guarantor’s name for such purpose, and to complete in such Borrower’s or Guarantor’s or Administrative Agent’s name, any order, sale or transaction, obtain the necessary documents in connection therewith and collect the proceeds thereof, and # sign

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.