Common use of Appointment as Attorney Clause in Contracts

Appointment as Attorney. The Borrower hereby irrevocably appoints the Creditor and any director, agent or employee of the Creditor jointly and each of them severally as attorney of the Borrower to do all things as the Creditor may consider to be necessary or desirable in order to fully protect its legitimate interests under this Agreement (to the maximum extent permitted by law) including, without limitation, to make, settle, query, compromise or finalise an insurance claim in relation to the Collateral.. The Borrower ratifies and confirms (and agrees to ratify and confirm) any actions which may be taken by such attorney. To the maximum extent permitted by law, the Borrower indemnifies the Creditor against any claims, demands, charges, monies or losses it may suffer by reason of or in consequence of exercising it rights pursuant to this clause 20 (other than due to the fraud or gross negligence of the Creditor or its director, agent or employee).

Appointment as Attorney. The Borrower Purchaser hereby irrevocably appoints the Creditor and any director, agent or employee of the Creditor jointly and each of them severally as attorney of the Borrower Purchaser to do all things as the Creditor may consider to be necessary or desirable in order to fully protect its legitimate interests under this Agreement (to the maximum extent permitted by law) including, without limitation, to make, settle, query, compromise or finalise an insurance claim in relation to the CollateralVehicle.. The Borrower Purchaser ratifies and confirms (and agrees to ratify and confirm) any actions which may be taken by such attorney. To the maximum extent permitted by law, the Borrower Purchaser indemnifies the Creditor against any claims, demands, charges, monies or losses it may suffer by reason of or in consequence of exercising it rights pursuant to this clause 20 18 (other than due to the fraud or gross negligence of the Creditor or its director, agent or employee).