Common use of Authority to Perform for Debtor Clause in Contracts

Authority to Perform for Debtor. Upon the occurrence of an event of default or if Debtor fails to perform any of Debtor’s duties set forth in this Agreement or in any evidence of or document relating to the Obligations, Lender is authorized, in Debtor’s name or otherwise, to take any such action including without limitation signing Debtor’s name or paying any amount so required, and the cost shall be one of the Obligations secured by this Agreement and shall be payable by Debtor upon demand with interest from the date of payment by Lender at the highest rate stated in any evidence of any Obligation but not in excess of the maximum rate permitted by law.

Appears in 2 contracts

Samples: General Business Security Agreement (Novelos Therapeutics, Inc.), General Business Security Agreement (Telkonet Inc)

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Authority to Perform for Debtor. Upon the occurrence of an event of default or if Debtor fails to perform any of Debtor’s duties set forth in this Agreement agreement or in any evidence of or document relating to the Obligations, Lender is authorized, in Debtor’s name or otherwise, to take any such action action, including without limitation signing Debtor’s 's name or paying any amount so required, and the cost shall be one of the Obligations secured by this Agreement agreement and shall be payable by Debtor upon demand with interest from the date of payment by Lender at the highest rate rates stated in any evidence of any Obligation but not in excess of the maximum rate permitted by law.

Appears in 1 contract

Samples: Security Agreement

Authority to Perform for Debtor. Upon the occurrence of an event of default or if Debtor fails to perform any of Debtor’s 's duties set forth in this Agreement or in any evidence of or document relating to the Obligations, Lender is authorized, in the Debtor’s 's name or otherwise, to take any such action including without limitation signing Debtor’s 's name or paying any amount so required, and the cost shall be one of the Obligations secured by this Agreement and shall be payable by the Debtor upon demand with interest from the date of payment by Lender at the highest rate stated in any evidence of any Obligation but not in excess of the maximum rate permitted by law.

Appears in 1 contract

Samples: Unit Purchase Agreement (Argyle Security, Inc.)

Authority to Perform for Debtor. Upon the occurrence of an event of default or if Debtor fails to perform any of Debtor’s duties set forth in this Agreement or in any evidence of or document relating to the Obligations, Lender is authorized, in Debtor’s name or otherwise, to take any such action including including, without limitation limitation, signing Debtor’s name or paying any amount so required, and the cost shall be one of the Obligations secured by this Agreement and shall be payable by Debtor upon demand with interest from the date of payment by Lender at the highest rate stated in any evidence of any Obligation but not in excess of the maximum rate permitted by law.

Appears in 1 contract

Samples: General Business Security Agreement (Advanced Biotherapy Inc)

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Authority to Perform for Debtor. Upon the occurrence of an event of default or if Debtor fails to perform any of Debtor’s 's duties set forth in this Agreement or in any evidence of or document relating to the Obligations, Lender is authorized, in Debtor’s 's name or otherwise, to take any such action including without limitation signing Debtor’s 's name or paying any amount so required, required and the cost shall be one of the Obligations secured by this Agreement and shall be payable by Debtor upon demand with interest from the date of payment by Lender at the highest rate stated in any evidence of any Obligation but not in excess of the maximum rate permitted by law.

Appears in 1 contract

Samples: Loan Agreement (DSG International LTD)

Authority to Perform for Debtor. Upon the occurrence of an event of default or if Debtor fails to perform any of Debtor’s 's duties set forth in this Agreement or in any evidence of or document relating to the Obligations, Lender is authorized, in Debtor’s 's name or otherwise, to take any such action including without limitation signing Debtor’s 's name or paying any amount so required, and the cost shall be one of the Obligations secured by this Agreement and shall be payable by Debtor upon demand with interest from the date of payment by Lender at the highest rate stated in any evidence of any Obligation but not in excess of the maximum rate permitted by law.

Appears in 1 contract

Samples: Lease (Ophidian Pharmaceuticals Inc)

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