Authorization Responsibility Clause Samples

Authorization Responsibility. (a) Pledgor hereby irrevocably authorizes Secured Party at any time and from time to time to file in any jurisdiction in which the UCC has been adopted any initial financing statements and amendments thereto that (a) describe the Pledged Collateral and (b) contain any other information required by part 5 of Article 9 of the UCC for the sufficiency or filing office acceptance of any initial financing statement or amendment, including the type of organization of Pledgor and any organization identification number issued to Pledgor. Pledgor agrees to furnish any such information to Secured Party promptly upon request. Pledgor also ratifies its authorization for Secured Party to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. The authorization conferred on Secured Party under this Section 2.05 is solely to protect Secured Party's interest in the Pledged Collateral and shall not impose any duty on Secured Party to act. (b) Clause 14.8 of the STID is hereby incorporated herein by this reference with the same effect as though set forth in its entirety herein.