Common use of Authority to Administer Collateral Clause in Contracts

Authority to Administer Collateral. Each Debtor irrevocably appoints the Agent its true and lawful attorney with full power of substitution, in the name of such Debtor, any Lender Party or otherwise, for the sole use and benefit of the Lender Parties, but at Debtors’ expense, to the extent permitted by law to exercise, at any time and from time to time while an Event of Default 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 extent necessary to pay the Liabilities in full): (a) to demand, xxx for, collect, receive and give acquittance for any and all monies due or to become due upon or by virtue thereof; (b) to settle, compromise, compound, prosecute or defend any action or proceeding with respect thereto; (c) to sell, lease, license or otherwise dispose of the same or the Proceeds thereof, as fully and effectually as if the Agent were the absolute owner thereof, and (d) to extend the time of payment of any or all thereof and to make any allowance or other adjustment with reference thereto; provided that, except in the case of Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Agent will give the relevant Debtor at least ten (10) days’ prior written notice of the time and place of any public sale thereof or the time after which any private sale or other intended disposition thereof will be made.

Authority to Administer Collateral. Each Debtor irrevocably appoints the Administrative Agent its true and lawful attorney with full power of substitution, in the name of such Debtor, any Lender Party or otherwise, for the sole use and benefit of the Lender PartiesLenders, but at Debtors’ ' expense, to the extent permitted by law to exercise, at any time and from time to time while an Event of a Default shall have occurred and be continuing, all or any of the following powers with respect to all or any of such Debtors’ Debtor's Collateral (to the extent necessary to pay the Liabilities in full): (ai) to demand, xxx for, collect, receive and give acquittance for any and all monies due or to become due upon or by virtue thereof; (bii) to settle, compromise, compound, prosecute or defend any action or proceeding with respect thereto; (ciii) to sell, lease, license or otherwise dispose of the same or the Proceeds thereof, as fully and effectually as if the Administrative Agent were the absolute owner thereof, and (div) to extend the time of payment of any or all thereof and to make any allowance or other adjustment with reference thereto; provided that, except in the case of Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Administrative Agent will give the relevant Debtor at least ten (10) days’ ' prior written notice of the time and place of any public sale thereof or the time after which any private sale or other intended disposition thereof will be made.

Authority to Administer Collateral. Each Debtor irrevocably appoints the Agent its true and lawful attorney with full power of substitution, in the name of such Debtor, any Lender Party or otherwise, for the sole use and benefit of the Lender Parties, but at Debtors’ ' expense, to the extent permitted by law to exercise, at any time and from time to time while an Event of a Default 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 extent necessary to pay the Liabilities in full): (a) to demand, xxx for, collect, receive and give acquittance for any and all monies due or to become due upon or by virtue thereof; (b) to settle, compromise, compound, prosecute or defend any action or proceeding with respect thereto; (c) to sell, lease, license or otherwise dispose of the same or the Proceeds thereof, as fully and effectually as if the Agent were the absolute owner thereof, and (d) to extend the time of payment of any or all thereof and to make any allowance or other adjustment with reference thereto; provided provided, that, except in the case of Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Agent will give the relevant Debtor at least ten (10) days’ ' prior written notice of the time and place of any public sale thereof or the time after which any private sale or other intended disposition thereof will be made.

Authority to Administer Collateral. Each Debtor irrevocably appoints the Agent Collateral Trustee its true and lawful attorney with full power of substitution, in the name of such Debtor, any Lender Party or otherwise, for the sole use and benefit of the Lender Secured Parties, but at Debtors’ ' expense, to the extent permitted by law law, to exercise, at any time and from time to time while an Event of Default shall have occurred and be continuing, subject to the provisions set forth in the Intercreditor Agreement, all or any of the following powers with respect to all or any of such Debtors’ Collateral (to the extent necessary to pay the Liabilities in full):Debtor's Collateral: (a) to demand, xxx for, collect, receive and give acquittance for any and all monies due or to become due upon or by virtue thereof; (b) to settle, compromise, compound, prosecute or defend any action or proceeding with respect thereto; (c) to sell, lease, license or otherwise dispose of the same or the Proceeds thereof, as fully and effectually as if the Agent Collateral Trustee were the absolute owner thereof, and (d) to extend the time of payment of any or all thereof and to make any allowance or other adjustment with reference thereto; provided that, except in the case of Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Agent Collateral Trustee will give the relevant Debtor at least ten (10) days’ ' prior written notice of the time and place of any public sale thereof or the time after which any private sale or other intended disposition thereof will be made, and such Debtor hereby agrees that such notice shall be deemed reasonable.

Authority to Administer Collateral. Each Debtor Subject to the provisions of the Subordination Agreement, the Company irrevocably appoints the Agent Subordinated Creditor its true and lawful attorney with full power of substitution, in the name of such Debtor, any Lender Party the Company or otherwise, for the sole use and benefit of the Lender PartiesSubordinated Creditor, but at Debtors’ Company' expense, to the extent permitted by law to exercise, at any time and from time to time while an Event of a Default shall have occurred and be continuing, all or any of the following powers with respect to all or any of such Debtors’ the Company's Collateral (to the extent necessary to pay the Liabilities in full): (a) to demand, xxx for, collect, receive and give acquittance for any and all monies due or to become due upon or by virtue thereof; (b) to settle, compromise, compound, prosecute or defend any action or proceeding with respect thereto; (c) to sell, lease, license or otherwise dispose of the same or the Proceeds thereof, as fully and effectually as if the Agent Subordinated Creditor were the absolute owner thereof, and (d) to extend the time of payment of any or all thereof and to make any allowance or other adjustment with reference thereto; provided that, except in the case of Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Agent Subordinated Creditor will give the relevant Debtor Company at least ten (10) days’ ' prior written notice of the time and place of any public sale thereof or the time after which any private sale or other intended disposition thereof will be made.

Authority to Administer Collateral. Each Debtor Grantor irrevocably appoints the Agent its true and lawful attorney with full power of substitution, in the name of such DebtorGrantor, any Lender Party Purchaser or otherwise, for the sole use and benefit of the Lender PartiesPurchaser, but at Debtors’ Grantor's expense, to the extent permitted by law to exercise, at any time and from time to time while an Event of Default shall have occurred and be continuing, all or any of the following powers with respect to all or any of such Debtors’ Grantor's Collateral (to the extent necessary to pay the Liabilities in full): (a) to demand, xxx for, collect, receive and give acquittance for any and all monies due or to become due upon or by virtue thereof; (b) to settle, compromise, compound, prosecute or defend any action or proceeding with respect thereto; (c) to sell, lease, license or otherwise dispose of the same or the Proceeds thereof, as fully and effectually as if the Agent were the absolute owner thereof, and (d) to extend the time of payment of any or all thereof and to make any allowance or other adjustment with reference thereto; provided that, except in the case of Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Agent will give the relevant Debtor Grantor at least ten (10) days’ ' prior written notice of the time and place of any public sale thereof or the time after which any private sale or other intended disposition thereof will be made.