Common use of Authority to Administer Collateral Clause in Contracts

Authority to Administer Collateral. The Borrower irrevocably appoints the Administrative Agent its true and lawful attorney, with full power of substitution, in the name of the Borrower or otherwise, for the sole use and benefit of the Secured Parties, but at the Borrower’s expense, to the extent permitted by law to exercise, at any time and from time to time following the occurrence and continuance of an Event of Default, all or any of the following powers with respect to all or any of the Collateral:

Appears in 6 contracts

Samples: Security Agreement (FS Global Credit Opportunities Fund-A), Security Agreement (American Capital, LTD), Security Agreement (FS Investment Corp II)

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Authority to Administer Collateral. The Borrower Each Debtor irrevocably appoints the Administrative Agent its true and lawful attorney, attorney with full power of substitution, in the name of the Borrower such Debtor, any Lender Party or otherwise, for the sole use and benefit of the Secured Lender Parties, but at the Borrower’s Debtors’ expense, to the extent permitted by law to exercise, at any time and from time to time following the occurrence and continuance of while an Event of DefaultDefault shall have occurred and be continuing, all or any of the following powers with respect to all or any of such Debtors’ Collateral (to the Collateral:extent necessary to pay the Liabilities in full):

Appears in 2 contracts

Samples: Security Agreement (Interface Security Systems, L.L.C.), Security Agreement (Interface Security Systems Holdings Inc)

Authority to Administer Collateral. The Borrower irrevocably appoints the Administrative Agent Lender its true and lawful attorney, with full power of substitution, in the name of the Borrower or otherwise, for the sole use and benefit of the Secured PartiesLender, but at the Borrower’s expense, to the extent permitted by law to exercise, at any time and from time to time following the occurrence and continuance of an Event of Default, all or any of the following powers with respect to all or any of the Collateral:

Appears in 1 contract

Samples: Security Agreement (FS Investment CORP)

Authority to Administer Collateral. The Borrower irrevocably appoints the Administrative Collateral Agent its true and lawful attorney, with full power of substitution, in the name of the Borrower Borrower, the Collateral Agent, any Secured Party or otherwise, for the sole use and benefit of the Secured Parties, but at the Borrower’s 's expense, to the extent permitted by law to exercise, at any time and from time to time following the occurrence and continuance of while an Event of DefaultDefault shall have occurred and be continuing, all or any of the following powers with respect to all or any of the Collateral:

Appears in 1 contract

Samples: Pledge Agreement (Unova Inc)

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Authority to Administer Collateral. The Borrower Each Debtor irrevocably appoints the Administrative Agent its true and lawful attorney, attorney with full power of substitution, in the name of the Borrower such Debtor, any Lender or otherwise, for the sole use and benefit of the Secured PartiesLenders, but at the Borrower’s Debtors' expense, to the extent permitted by law to exercise, at any time and from time to time following the occurrence while a Default shall have occurred and continuance of an Event of Defaultbe continuing, all or any of the following powers with respect to all or any of such Debtor's Collateral (to the Collateral:extent necessary to pay the Liabilities in full):

Appears in 1 contract

Samples: Security Agreement (CCC Information Services Group Inc)

Authority to Administer Collateral. The Borrower Each Debtor irrevocably appoints the Administrative Agent its true and lawful attorney, attorney with full power of substitution, in the name of the Borrower such Debtor, any Lender Party or otherwise, for the sole use and benefit of the Secured Lender Parties, but at the Borrower’s Debtors' expense, to the extent permitted by law to exercise, at any time and from time to time following the occurrence while a Default shall have occurred and continuance of an Event of Defaultbe continuing, all or any of the following powers with respect to all or any of such Debtors' Collateral (to the Collateral:extent necessary to pay the Liabilities in full):

Appears in 1 contract

Samples: Security Agreement (Fargo Electronics Inc)

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