Common use of Agent Authorization Clause in Contracts

Agent Authorization. Subject to the Intercreditor Agreement, after the occurrence and during the continuance of any Event of Default, the Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the applicable Guaranteed Obligations (including any and all Post-Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Agent for application to the applicable Guaranteed Obligations (including any and all Post-Petition Interest).

Agent Authorization. Subject to the Intercreditor Agreement, after the occurrence and during the continuance of any Event of Default, the Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the applicable Guaranteed Obligations (including any and all Post-Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Agent for application to the applicable Guaranteed Obligations (including any and all Post-Petition Interest).

Agent Authorization. Subject to the Intercreditor Agreement, after After the occurrence and during the continuance of any Event of DefaultDefault (including the commencement and continuation of any Insolvency Proceeding relating to any other Obligor), the Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each GuarantorHoldings, to collect and enforce, and to submit claims in respect of, the Subordinated Intercompany Obligations and to apply any amounts received thereon to the applicable Guaranteed Obligations (including any and all Post-Post Petition Interest), and (ii) to require each Guarantor Holdings (A) to collect and enforce, and to submit claims in respect of, the Subordinated Intercompany Obligations and (B) to pay any amounts received on such obligations to the Agent for application to the applicable Guaranteed Obligations (including any and all Post-Post Petition Interest).

Agent Authorization. Subject to the Intercreditor Agreement, after After the occurrence and during the continuance of a Default or Unmatured Default (including the commencement and continuation of any Event of Defaultproceeding under any Bankruptcy Law relating to any other the Guaranteed Borrower), the Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each the Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the applicable Guaranteed Obligations (including any and all Post-Post Petition Interest), and (ii) to require each the Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Agent for application to the applicable Guaranteed Obligations (including any and all Post-Post Petition Interest).

Agent Authorization. Subject to the Intercreditor Agreement, after After the occurrence and during the continuance of any Event of Default, but subject to the notice provisions described in Section 10. the Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the applicable Guaranteed Obligations (including any and all Post-Petition Postpetition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Agent for application to the applicable Guaranteed Obligations (including any and all Post-Petition Postpetition Interest).

Agent Authorization. Subject to the Intercreditor Agreement, after the occurrence and during the continuance of any Event of Default, the Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the applicable Guaranteed Obligations (including any and all Post-Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Agent for application to the applicable appl cable Guaranteed Obligations (including any and all Post-Petition Interest).