Common use of Administrative Agent Appointed Attorney-in-Fact Clause in Contracts

Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuation of an Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to ask for, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral, (b) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) above, and (c) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 2 contracts

Samples: Security Agreement (Madison Square Garden Entertainment Corp.), Security Agreement (Madison Square Garden Entertainment Corp.)

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Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuation of an Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to ask for, demand, collect, xxx sue for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral, (b) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) above, and (c) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Security Agreement (MSGE Spinco, Inc.)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor Pledgor hereby irrevocably appoints the Administrative Agent as such GrantorPledgor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease fact, effective upon the payment occurrence and during the continuance of an Event of Default (unless waived by the Lenders in full accordance with the terms of all the Secured Obligations) Credit Agreement), with full authority in the place and stead of such Grantor Pledgor and in the name of such Grantor Pledgor, the Administrative Agent or otherwise, from time to time, upon the occurrence and during the continuation of an Event of Default, time in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that which the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to ask forask, demand, collect, xxx for, recover, compromisecompound, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Pledged Collateral,; (b) to receive, indorse endorse and collect any drafts or other instruments, documents and chattel paper, paper in connection with clause subsection (a) above, ; and (c) to file any claims or take any action or institute any proceedings that which the Administrative Agent may deem necessary or desirable for the collection of any of the Pledged Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Lenders and the Administrative Agent with respect to any of the Pledged Collateral.

Appears in 1 contract

Samples: Credit Agreement (Mens Wearhouse Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Upon the occurrence and during the continuation of an Event of Default, each Grantor hereby irrevocably appoints the Administrative Collateral Agent (and any officer or agent of the Collateral Agent with full power of substitution and revocation) as such Grantor’s 's attorney-in-fact solely (coupled with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) an interest), with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuation of an Event of Default, time in the Administrative Collateral Agent’s reasonable 's discretion, to take any action and to execute any instrument that which the Administrative Collateral Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to ask forask, demand, collect, xxx sue for, recover, compromisecompound, receive recxxxe and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral,; (b) to receive, indorse endorse, and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) above, and; Exhibit 4.01(c) 6 (c) to file any claims or take any action or institute any proceedings that which the Administrative Collateral Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Collateral Agent with respect to any of the Collateral; and (d) to discharge any lien or encumbrance on or against the Collateral or bond the same.

Appears in 1 contract

Samples: Security Agreement (Volt Information Sciences Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor of the Grantors hereby irrevocably appoints the Administrative Agent such Grantor’s 's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor the Borrower and in the name of such Grantor the Borrower or otherwise, from time to time, upon the occurrence and during the continuation continuance of an Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to Section 11, (b) to ask for, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the its Collateral, (bc) to receive, indorse endorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) or (b) above, and (cd) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the its Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Assigned Agreement or the rights of the Administrative Agent with respect to any of the its Collateral.

Appears in 1 contract

Samples: Security Agreement (Audio Book Club Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s 's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuation continuance of an Event of DefaultDefault or Default of the nature set forth in Section 8.1.1 or 8.1.9 of the Credit Agreement, in the Administrative Agent’s reasonable 's discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to Section 12, (b) to ask for, demand, collect, xxx sue for, recover, compromise, receive and give acquittance and receipts xxxeipts for moneys due and to become due under or in respect of any of the Collateral, (bc) to receive, indorse endorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) or (b) above, and (cd) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Assigned Agreement or the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (Marvel Enterprises Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s 's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and time during the continuation of an a Default under Section 6.01(a) or (f) of the Credit Agreement or any Event of Default, Default in the Administrative Agent’s reasonable 's discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation:: 222 (a) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to Section 12, (b) to ask for, demand, collect, xxx forsue xxx, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral, (bc) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) or (b) above, and (cd) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Assigned Agreement or the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Tanner Chemicals Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s 's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon time in the Administrative Agent's discretion from and after the occurrence and during the continuation continuance of an Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) if such Grantor has failed to do so, to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to Section 11, (b) to ask for, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral, (bc) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) or (b) above, and (cd) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Assigned Agreement or the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Security Agreement (Del Monte Foods Co)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment attorney in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, time upon the occurrence and during the continuation continuance of an Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable request to accomplish the purposes of this Agreement, including, without limitation: (a) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to Section 7, (b) to ask for, demand, collect, xxx sxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral, (bc) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) or (b) above, and (cd) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Security Agreement (Jones Apparel Group Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Subject to the terms of the Intercreditor Agreement or any Other Intercreditor Agreement, each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuation continuance of an Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to obtain and adjust insurance required to be paid to the Administrative Agent, (b) to ask for, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral, (bc) to receive, indorse and collect any drafts or other instruments, documents and chattel paperChattel Paper, in connection with clause (a) or (b) above, and (cd) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Subject Agreement or the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Syniverse Holdings Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor The Pledgor hereby irrevocably appoints the Administrative Agent such Grantoras the Pledgor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor the Pledgor and in the name of such Grantor the Pledgor or otherwise, from time to timetime in the Administrative Agent’s discretion, upon after the occurrence and during the continuation continuance of an a Default of the nature referred to in Section 9.1(i) of the Credit Agreement or any other Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the which such Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Pledge Agreement, including, including without limitation: (a) to ask forask, demand, collect, xxx forsux xor, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral,; (b) to receive, indorse endorse, and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) above, ); and (c) to file any claims or take any action or institute any proceedings that the which such Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the such Administrative Agent with respect to any of the Collateral. The Pledgor hereby acknowledges, consents and agrees that the power of attorney granted pursuant to this Section is irrevocable and coupled with an interest.

Appears in 1 contract

Samples: Pledge Agreement (Titan Corp)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints appoints, as security for the Obligations, the Administrative Agent as such Grantor’s 's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon time in the Administrative Agent's discretion during the occurrence and during the continuation continuance of an Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to ask for, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral,; (b) to receive, indorse and collect any drafts or other instruments, instruments and documents and chattel paper, in connection with clause (a) above, andthe Collateral; (c) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Agent with respect to any of the Collateral; and (d) to execute and file any UCC financing or continuation statements, or amendments thereto, and such other instruments or notices, as may be necessary, in order to perfect and preserve the pledge, assignment and security interest granted hereby; provided that the Administrative Agent's exercise of any such power shall be subject to Section 2.05(d).

Appears in 1 contract

Samples: Credit Agreement (Fortress Transportation & Infrastructure Investors LLC)

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Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints the Administrative Agent such Grantor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuation of an Event of Default, time in the Administrative Agent’s reasonable discretion, following the occurrence and continuation of a Default of the nature set forth in Section 9.1(i) of the Credit Agreement or an Event of Default, to take any action and to execute any instrument that which the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Security Agreement, including, without limitation: (a) to ask forask, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral,; (b) to receive, indorse endorse, and collect any drafts or other instrumentsInstruments, documents Documents and chattel paperChattel Paper, in connection with clause (a) above, and; (c) to file any claims or take any action or institute any proceedings that which the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Agent with respect to any of the Collateral; and (d) to perform the affirmative obligations of such Grantor hereunder (including all obligations of such Grantor pursuant to Section 4.1.

Appears in 1 contract

Samples: Security Agreement

Administrative Agent Appointed Attorney-in-Fact. Each Grantor Pledgor hereby irrevocably appoints the Administrative Agent as such GrantorPledgor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor Pledgor and in the name of such Grantor Pledgor or otherwise, from time to timetime in the Administrative Agent’s discretion, upon after the occurrence and during the continuation continuance of an a Default of the nature referred to in Section 9.1(i) of the Credit Agreement or any other Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the which such Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Pledge Agreement, including, including without limitation: (a) to ask forask, demand, collect, xxx sxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral,; (b) to receive, indorse endorse, and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) above, ); and (c) to file any claims or take any action or institute any proceedings that the which such Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the such Administrative Agent with respect to any of the Collateral. Each Pledgor hereby acknowledges, consents and agrees that the power of attorney granted pursuant to this Section is irrevocable and coupled with an interest.

Appears in 1 contract

Samples: Pledge Agreement (Titan Corp)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor of the Grantors hereby irrevocably appoints the Administrative Agent such Grantor’s 's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuation continuance of an Event of Default, in the Administrative Agent’s reasonable discretion, Default and upon notice to such Grantor to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to ask for, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Intellectual Property Collateral,; (b) to receive, indorse endorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) above, ; and (c) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Agent with respect to any of the Intellectual Property Collateral.

Appears in 1 contract

Samples: Credit Agreement (Audio Book Club Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints for the term that this Agreement is in effect the Administrative Agent such Grantor’s 's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, time in the Administrative Agent's discretion upon the occurrence and during the continuation continuance of an Event of Default, in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to Section 12, (b) to ask for, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral, (bc) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, paper in connection with clause (a) or (b) above, and (cd) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Assigned Agreement or the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Mediq Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor The Pledgor hereby irrevocably appoints the Administrative Agent such Grantor’s the Pledgor's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor the Pledgor and in the name of such Grantor the Pledgor or otherwise, from time to time, upon the occurrence and during the continuation of an Event of Default, time in the Administrative Agent’s reasonable 's discretion, to take any action and to execute any instrument that which the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Pledge Agreement, including, without limitationincluding after the occurrence and continuance of a Default of the nature referred to in Section 8.1.9 of the Credit Agreement or an Event of Default: (a) to ask forask, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral,; (b) to receive, indorse endorse, and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) above, ; and (c) to file any claims or take any action or institute any proceedings that which the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Agent with respect to any of the Collateral. The Pledgor hereby acknowledges, consents and agrees that the power of attorney granted pursuant to this Section is irrevocable and coupled with an interest.

Appears in 1 contract

Samples: Credit Agreement (Dri I Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor Pledgor hereby irrevocably appoints the Administrative Agent as such GrantorPledgor’s attorney-in-fact solely with respect to the Collateral (such appointment to cease attorney in fact, effective upon the payment occurrence and during the continuance of an Event of Default (unless waived by the requisite Lenders in full accordance with the terms of all the Secured Obligations) Credit Agreement), with full authority in the place and stead of such Grantor Pledgor and in the name of such Grantor Pledgor, the Administrative Agent or otherwise, from time to time, upon the occurrence and during the continuation of an Event of Default, time in the Administrative Agent’s reasonable discretion, to take any action and to execute any instrument that which the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (a) to ask forask, demand, collect, xxx for, recover, compromisecompound, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Pledged Collateral,; (b) to receive, indorse endorse and collect any drafts or other instruments, documents and chattel paper, paper in connection with clause subsection (a) above, ; and (c) to file any claims or take any action or institute any proceedings that which the Administrative Agent may deem necessary or desirable (or which the Majority Lenders may direct) for the collection of any of the Pledged Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Lenders and the Administrative Agent with respect to any of the Pledged Collateral.

Appears in 1 contract

Samples: Credit Agreement (Mens Wearhouse Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Grantor The Pledgor hereby irrevocably appoints the Administrative Agent such Grantor’s the Pledgor's attorney-in-fact solely with respect to the Collateral (such appointment to cease upon the payment in full of all the Secured Obligations) fact, with full authority in the place and stead of such Grantor the Pledgor and in the name of such Grantor the Pledgor or otherwise, from time to time, upon the occurrence and during the continuation of an Event of Default, time in the Administrative Agent’s reasonable 's discretion, to take any action and to execute any instrument that which the Administrative Agent may deem reasonably necessary or advisable to accomplish the purposes of this Pledge Agreement, including, without limitationincluding after the occurrence and during the continuance of a Default of the nature referred to in Section 8.1.9 of the Credit Agreement or an Event of Default: (a) to ask forask, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral,; (b) to receive, indorse endorse, and collect any drafts or other instruments, documents and chattel paper, in connection with clause (a) above, ; and (c) to file any claims or take any action or institute any proceedings that which the Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Pledged Agreement or the rights of the Administrative Agent with respect to any of the Collateral. The Pledgor hereby acknowledges, consents and agrees that the power of attorney granted pursuant to this Section is irrevocable and coupled with an interest.

Appears in 1 contract

Samples: Holdings Pledge Agreement (Dri I Inc)

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