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

Administrative Agent Appointed Attorney-in-Fact. Each Loan Party hereby irrevocably appoints the Administrative Agent such Loan Party’s attorney-in-fact, with full authority in the place and stead of such Loan Party and in the name of such Loan Party or otherwise, from time to time following the occurrence and during the continuance of an Event of Default, in the Administrative Agent’s discretion, to take any action and to execute any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (i) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to this Agreement, (ii) 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, (iii) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (i) or (ii) above, and (iv) 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 the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 3 contracts

Samples: Senior Secured Debtor in Possession Credit Agreement (Chemtura CORP), Senior Secured Debtor in Possession Credit Agreement (Chemtura CORP), Senior Secured Debtor in Possession Credit Agreement (Chemtura CORP)

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Administrative Agent Appointed Attorney-in-Fact. Each Loan Party Grantor hereby irrevocably appoints the each Administrative Agent such Loan PartyGrantor’s attorney-in-fact, with full authority in the place and stead of such Loan Party Grantor and in the name of such Loan Party Grantor or otherwise, from time to time following time, upon the occurrence and during the continuance of an Event of Default, in the either Administrative Agent’s discretion, to take any action and to execute any instrument that the such Administrative Agent may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (ia) to obtain and adjust insurance required to be paid to the Domestic Administrative Agent pursuant to this Agreement,Section 13; (iib) 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,; (iiic) to receive, indorse and collect any drafts or other instruments, documents and chattel paperChattel Paper, in connection with clause (ia) or (iib) above, ; and (ivd) to file any claims or take any action or institute any proceedings that the either Administrative Agent may deem necessary or desirable for the collection of any of the Collateral or otherwise to enforce the rights of the Administrative Agent Agents with respect to any of the Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Mirion Technologies, Inc.), Credit Agreement (Mirion Technologies, Inc.)

Administrative Agent Appointed Attorney-in-Fact. Each Loan Party hereby Grantor irrevocably appoints the Administrative Agent such Loan PartyGrantor’s attorney-in-fact, with full authority in the place and stead of such Loan Party Grantor and in the name of such Loan Party Grantor or otherwise, from time to time following , upon the occurrence and during the continuance of an Event of Default, in the Administrative Agent’s discretion, to take any action and to execute any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (ia) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to this Section 6.07 of the Credit Agreement, (iib) 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, (iiic) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (ia) or (iib) above, and (ivd) 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 the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Sandridge Energy Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Loan Party hereby irrevocably appoints the Administrative Agent such Loan Party’s attorney-in-factfact after the occurrence and during the continuance of an Event of Default, with full authority in the place and stead of such Loan Party and in the name of such Loan Party or otherwise, from time to time following the occurrence and during the continuance of an Event of Defaulttime, in the Administrative Agent’s discretion, to take any action and to execute any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (i) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to this Agreement, (ii) 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, (iii) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (i) or (ii) above, and (iv) 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 the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Senior Secured Debtor in Possession Credit Agreement (Dana Corp)

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Administrative Agent Appointed Attorney-in-Fact. Each Loan Party hereby Grantor irrevocably appoints the Administrative Agent such Loan PartyGrantor’s attorney-in-fact, with full authority in the place and stead of such Loan Party Grantor and in the name of such Loan Party Grantor or otherwise, from time to time following time, upon the occurrence and during the continuance of an Event of Default, in the Administrative Agent’s discretion, to take any action and to execute any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (ia) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to this Section 6.07 of the Credit Agreement,. (iib) 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, (iiic) to receive, indorse and collect any drafts or other instruments, documents and chattel paperChattel Paper, in connection with clause (ia) or (iib) above, and (ivd) 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 the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (Sandridge Energy Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Loan Party hereby Grantor irrevocably appoints the Administrative Agent such Loan Party’s Grantor's attorney-in-fact, with full authority in the place and stead of such Loan Party Grantor and in the name of such Loan Party Grantor or otherwise, from time to time following , upon the occurrence and during the continuance of an Event of Default, in the Administrative Agent’s 's discretion, to take any action and to execute any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation: (ia) to obtain and adjust insurance required to be paid to the Administrative Agent pursuant to this Section 6.8(a) of the Credit Agreement, (iib) to ask for, demand, collect, xxx sue for, recover, compromise, receive and give acquittance and receipts rxxxipts for moneys due and to become due under or in respect of any of the Collateral, (iiic) to receive, indorse and collect any drafts or other instruments, documents and chattel paper, in connection with clause (ia) or (iib) above, and (ivd) 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 the rights of the Administrative Agent with respect to any of the Collateral.

Appears in 1 contract

Samples: Security Agreement (American Real Estate Partners L P)

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