Common use of Authority to File Notices Clause in Contracts

Authority to File Notices. Borrower irrevocably appoints Bank as its attorney-in-fact, coupled with an interest, with full power of substitution, after the occurrence of and during the continuation of any Event of Default, to file for record, at Borrower's cost and expense and in Borrower's names, any actions, complaints, petitions, requests or notices that Bank considers necessary or desirable to protect the Collateral.

Appears in 2 contracts

Samples: Loan Agreement (DVL Inc /De/), Loan Agreement (DVL Inc /De/)

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Authority to File Notices. Borrower irrevocably appoints Bank as its attorney-in-fact, coupled with an interest, with full power of substitution, after the occurrence of and during the continuation of any Event of Default, to file for record, at Borrower's ’s cost and expense and in Borrower's names’s name, any actionsnotices of completion, complaintsnotices of cessation of labor, petitions, requests or any other notices that Bank considers in its reasonable discretion may consider necessary or desirable to protect the Collateralits security, if Borrower fails to do so. The appointment granted in this Section shall be deemed to be a power coupled with an interest.

Appears in 2 contracts

Samples: Construction Loan Agreement (Summit Hotel OP, LP), Construction Loan Agreement (Summit Hotel Properties LLC)

Authority to File Notices. Borrower irrevocably appoints Bank as its attorney-in-fact, coupled with an interest, with full power of substitution, after the occurrence of and during the continuation of any Event of Default, to file for record, at Borrower's Borrowers' cost and expense and in Borrower's either or both of Borrowers' names, any actions, complaints, petitions, requests or notices that Bank considers necessary or desirable to protect the Collateral.

Appears in 1 contract

Samples: Loan Agreement (DVL Inc /De/)

Authority to File Notices. The Borrower irrevocably appoints the Bank as its attorney-in-fact, coupled with an interest, with full power of substitution, after the occurrence of and during the continuation of any Event of Default, to file for record, at the Borrower's cost and expense and in the Borrower's namesname, any actions, complaints, petitions, requests or notices that the Bank considers necessary or desirable to protect the Collateral.

Appears in 1 contract

Samples: Loan Agreement (Interstate Hotels Corp)

Authority to File Notices. Borrower irrevocably appoints Bank as its attorney-in-fact, coupled with an interest, with full power of substitution, after the occurrence of and during the continuation of any Event of Default, to file for record, at Borrower's cost and expense and in Borrower's namesname, any actionsnotices of completion, complaintsnotices of cessation of labor, petitions, requests or any other notices that Bank considers in its reasonable discretion may consider necessary or desirable to protect the Collateralits security, if Borrower fails to do so within three (3) days after Bank's written request.

Appears in 1 contract

Samples: Construction Loan Agreement (Newmark Homes Corp)

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Authority to File Notices. The Borrower irrevocably appoints the Bank as its attorney-in-fact, coupled with an interest, with full power of substitution, after the occurrence of and during the continuation of any Event of Default, to file for record, at the Borrower's cost and expense and in the Borrower's namesname, any actionsnotices of completion, complaintsnotices of cessation of labor, petitions, requests or any other notices that the Bank considers at its sole discretion may consider necessary or desirable to protect its security, if the CollateralBorrower fails to do so after demand by the Bank.

Appears in 1 contract

Samples: Loan Agreement (Newmark Homes Corp)

Authority to File Notices. Borrower irrevocably appoints Bank as its attorney-in-fact, coupled with an interest, with full power of substitution, after the occurrence of and during the continuation of any Event of Default, to file for record, at Borrower's cost and expense and in Borrower's namesname, any actionsnotices of completion, complaints, petitions, requests or any other notices that Bank considers in its sole discretion may consider necessary or desirable to protect the Collateralits security, if Borrower fails to do so. The appointment granted in this Section 7.7 shall be deemed to be a power coupled with an interest.

Appears in 1 contract

Samples: Master Revolving Line of Credit Construction Loan Agreement (Zenith National Insurance Corp)

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