Authority to Perform for Borrower. To the fullest extent permitted by law Borrower, GRS and GMO appoint each and every agent of Banks as attorney-in-fact for each of them to endorse the name of Borrower, GRS or GMO on any notes, acceptances, checks, drafts, money orders or other instruments for the payment of money or any security interest that may come into Banks' possession. This power, because it is coupled with an interest, is irrevocable while any Obligation remains unpaid. All acts of Banks or their appointee are hereby ratified and approved, and Banks or their appointee shall not be liable for any acts of commission or omission, nor for any error of judgment or mistake of fact or law, except for the willful misconduct of Banks."
Authority to Perform for Borrower. Borrower presently appoints any officer of Lender as Borrower’s attorney-in-fact (coupled with an interest and irrevocable while any Obligations remain unpaid) to do any of the following upon default by Borrower hereunder (notwithstanding any notice requirements or grace/cure periods under this or other agreements between Borrower and Lender): (i) to file, endorse or place the name of Borrower on any invoice or document of title relating to accounts, drafts against customers, notes, acceptances, assignments of government contracts, instruments, financing statements, checks, drafts, money orders, insurance claims or payments or other documents evidencing payment or a security interest relating to the Collateral; (ii) to receive, open and dispose of all mail addressed to Borrower and to notify the post office authorities to change the address for delivery of mail addressed to Borrower to an address designated by Lender; (iii) to do all such other acts and things necessary to carry out Borrower’s duties under this Agreement and the other Loan Documents; and (iv) to perfect, protect and/or realize upon Lender’s interest in the Collateral. If the Collateral includes funds or property in depository accounts, Borrower authorizes each of its depository institutions to remit to Lender, without liability to Borrower, all of Borrower’s funds on deposit with such institution upon written direction by Lender after default by Borrower hereunder. All acts by Lender are hereby ratified and approved, and Lender shall not be liable for any acts of commission or omission, or for any errors of judgment or mistakes of fact or law.
Authority to Perform for Borrower. Each Borrower presently appoints any officer of Bank as such Borrower’s attorney-in-fact (coupled with an interest and irrevocable while any Obligations remain unpaid) to do any of the following during the existence of a default by a Borrower hereunder: (i) to file, endorse or place the name of such Borrower on any invoice or document of title relating to accounts, drafts against customers, notes, acceptances, assignments of government contracts, instruments, financing statements, checks, drafts, money orders, insurance claims or payments or other documents evidencing payment or a security interest relating to the Collateral; (ii) to do all such other acts and things necessary to carry out such Borrower’s duties under this Agreement and the other Loan Documents; and (iii) to perfect, protect and/or realize upon Bank’s interest in the Collateral. If the Collateral includes funds or property in depository accounts, each Borrower authorize each of its depository institutions to remit to Bank, without liability to Borrowers, all of such Borrower’s funds on deposit with such institution upon written direction by Bank after default by any Borrower hereunder. All acts by Bank are hereby ratified and approved, and Bank shall not be liable for any acts of commission or omission, or for any errors of judgment or mistakes of fact or law.
Authority to Perform for Borrower. To the fullest extent permitted by law Borrower appoints each and every agent of Bank as Borrower's attorney-in-fact to endorse the name of Borrower on any notes, acceptances, checks, drafts, money orders or other instruments for the payment of money or any security interest that may come into Bank's possession and to sign Borrower's name on any invoice or bill xx lading relating to any of the Receivables, on drafts against Customers, and notices to Customers. This power, because it is coupled with an interest, is irrevocable while any Obligation remains unpaid. Bank is hereby authorized and empowered to accept the return of goods represented by any of the Receivables, without notice to or the consent of the Borrower, without discharging or in any way affecting Borrower's liability hereunder. All acts of Bank or its appointee are hereby ratified and approved, and Bank or its appointee shall not be liable for any acts of commission or omission, nor for any error of judgment or mistake of fact or law, except for the willful misconduct of Bank.
