Common use of 2Power of Attorney Clause in Contracts

2Power of Attorney. Effective only upon the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful attorney to: (a) send requests for verification of Accounts or notify account debtors of Bank’s security interest in the Accounts; (b) endorse Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession; (c) sign Borrower’s name on any invoice or xxxx of lading relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any Collateral; (e) make, settle, and adjust all claims under and decisions with respect to Borrower’s policies of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and upon terms which Bank determines to be reasonable; and (g) file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral; provided Bank may exercise such power of attorney to sign the name of Borrower on any of the documents described in clause (g) above, regardless of whether an Event of Default has occurred. The appointment of Bank as Borrower’s attorney in fact, and each and every one of Bank’s rights and powers, being coupled with an interest, is irrevocable until all of the Obligations (other than inchoate indemnity obligations) have been fully repaid and performed and Bank’s obligation to provide advances hereunder is terminated.

2Power of Attorney. Effective only upon the occurrence and during the continuance of an Event of Default, each Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrowersuch Xxxxxxxx’s true and lawful attorney to: (ato:(a) send requests for verification of Accounts or notify account debtors of Bank’s security interest in the Accounts; (b) endorse Borrower’s name on notify all account debtors with respect to the Accounts or any checks or other forms debtors of payment or security that may come into Bank’s possessiona Borrower to pay Bank directly; (c) sign a Borrower’s name on any invoice or xxxx bill of lading relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any Collateral; (e) make, settle, and adjust all claims under and decisions with respect to a Borrower’s policies of insurance; (e) demand, collect, receive, sue, and give releases to any account debtor or other debtor of a Borrower for the monies due or which may become due upon or with respect to the Accounts and to compromise, prosecute, or defend any action, claim, case or proceeding relating to the Accounts; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and upon terms which Bank determines to be reasonable; and (g) sell, assign, transfer, pledge, compromise, discharge or otherwise dispose of any Collateral; (h) receive and open all mail addressed to a Borrower for the purpose of collecting the Accounts; (i) endorse a Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession; (j) execute on behalf of a Borrower any and all instruments, documents, financing statements and the like to perfect Bank’s interests in the Accounts and file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral; and (k) do all acts and things necessary or expedient, in furtherance of any such purposes; provided however Bank may exercise such power of attorney with respect to sign the name of Borrower on any of the documents actions described in clause (gj) above, regardless of whether an Event of Default has occurred. The appointment of Bank as Borrowera Xxxxxxxx’s attorney in fact, and each and every one of Bank’s rights and powers, being coupled with an interest, is irrevocable until all of the Obligations (other than inchoate indemnity obligations) have been fully repaid and performed and Bank’s obligation to provide advances Credit Extensions hereunder is terminated.

2Power of Attorney. Effective only upon the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful attorney to: (a) send requests for verification of Accounts or notify account debtors of Bank’s security interest in the Accounts; (b) endorse Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession; (c) sign BorrowerXxxxxxxx’s name on any invoice or xxxx bill of lading relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any Collateral; (e) make, settle, and adjust all claims under and decisions with respect to BorrowerXxxxxxxx’s policies of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and upon terms which Bank determines to be reasonable; and (g) file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral; provided Bank may exercise such power of attorney to sign the name of Borrower on any of the documents described in clause (g) above, regardless of whether an Event of Default has occurred. The appointment of Bank as BorrowerXxxxxxxx’s attorney in fact, and each and every one of Bank’s rights and powers, being coupled with an interest, is irrevocable until all of the Obligations (other than inchoate indemnity obligations) have been fully repaid and performed and Bank’s obligation to provide advances hereunder is terminated.

2Power of Attorney. Effective only Borrower hereby irrevocably appoints Bank as its true and lawful attorney-in-fact, (a) exercisable upon the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful attorney to: (a) send requests for verification of Accounts or notify account debtors of Bank’s security interest in the Accounts; (bi) endorse Borrower’s name on any checks checks, payment instruments, or other forms of payment or security that may come into Bank’s possessionsecurity; (cii) sign Borrower’s name on any invoice or xxxx bill of lading relating for any Account or drafts against Account Debtors; (iii) demand, collect, sue, and give releases ​ ​ to any AccountAccount Debtor for monies due, drafts against account debtors, schedules settle and assignments of Accounts, verifications of Accountsadjust disputes and claims about the Accounts directly with Account Debtors, and notices to account debtorscompromise, prosecute, or defend any action, claim, case, or proceeding about any Collateral (including filing a claim or voting a claim in any bankruptcy case in Bank’s or Xxxxxxxx’s name, as Bank chooses); (d) dispose of any Collateral; (eiv) make, settle, and adjust all claims under and decisions with respect to BorrowerXxxxxxxx’s policies of insuranceinsurance policies; (fv) pay, contest or settle and adjust disputes and claims respecting any Lien, charge, encumbrance, security interest, or other claim in or to the accounts directly with account debtorsCollateral, for amounts and upon terms which Bank determines or any judgment based thereon, or otherwise take any action to be reasonableterminate or discharge the same; and (gvi) file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of transfer the Collateral; provided Bank may exercise such power of attorney to sign Collateral into the name of Borrower on any of Bank or a third party as the documents described in clause Code permits; and (gb) above, regardless of whether an Event of Default has occurred, to sign Xxxxxxxx’s name on any documents necessary to perfect or continue the perfection of Bank’s security interest in the Collateral. The Bank’s foregoing appointment of Bank as BorrowerXxxxxxxx’s attorney in fact, and each and every one all of Bank’s rights and powers, being coupled with an interest, is are irrevocable until such time as all of the Obligations (other than inchoate indemnity obligations) have been fully repaid and performed and Bank’s satisfied in full, Bank is under no further obligation to provide advances hereunder is make Credit Extensions and the Loan Documents have been terminated. Bank shall not incur any liability in connection with or arising from the exercise of such power of attorney and shall have no obligation to exercise any of the foregoing rights and remedies.