Common use of AUTHORIZATION TO LENDER Clause in Contracts

AUTHORIZATION TO LENDER. If, while any Subordinated Debt is outstanding, any Insolvency Proceeding is commenced by or against the Borrower or its property: (i) the Lender is hereby irrevocably authorized and empowered (in the name of the Guaranteed Parties or in the name of any Guarantor or otherwise), but shall have no obligation, to demand, xxx for, collect and receive every payment or distribution in respect of the Subordinated Debt and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting the Subordinated Debt) as it may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of the Guaranteed Parties; and (ii) each Guarantor shall promptly take such action as the Lender may reasonably request (A) to collect the Subordinated Debt for the account of the Guaranteed Parties and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to the Lender, such powers of attorney, assignments and other instruments as it may request to enable it to enforce any and all claims with respect to the Subordinated Debt, and (C) to collect and receive any and all Subordinated Debt Payments.

AUTHORIZATION TO LENDER. If, while any Subordinated Debt is outstanding, any Insolvency Proceeding is commenced by or against the Borrower Event shall occur and be continuing with respect to another Obligor or its property: property which is not otherwise permitted under the Loan Agreements: (i) the Lender is hereby irrevocably authorized and empowered (in the name of the Guaranteed Parties or in the name of any Guarantor each Obligor or otherwise), but shall have no obligation, to demand, xxx sxx for, collect collect, and receive every payment or distribution in respect of the Subordinated Debt and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting the Subordinated Debt) as it may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of the Guaranteed PartiesLender; and and (ii) each Guarantor Obligor shall promptly take such action as the Lender reasonably may reasonably request (A) to collect the Subordinated Debt for the account of the Guaranteed Parties Lender and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to the Lender, Lender such powers of attorney, assignments assignments, and other instruments as it may reasonably request to enable it to enforce any and all claims with respect to the Subordinated Debt, and (C) to collect and receive any and all Subordinated Debt Payments.

AUTHORIZATION TO LENDER. If, while any Subordinated Debt is outstanding, any Insolvency Proceeding is commenced by or against the Borrower or its property: (i) the Lender is hereby irrevocably authorized and empowered (in the name of the Guaranteed Parties Lender or in the name of any Guarantor or otherwise), but shall have no obligation, to demand, xxx for, collect and receive every payment or distribution in respect of the Subordinated Debt and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting the Subordinated Debt) as it may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of the Guaranteed PartiesLender; and (ii) each Guarantor shall promptly take such action as the Lender may reasonably request (A) to collect the Subordinated Debt for the account of the Guaranteed Parties Lender and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to the Lender, such powers of attorney, assignments and other instruments as it may request to enable it to enforce any and all claims with respect to the Subordinated Debt, and (C) to collect and receive any and all Subordinated Debt Payments.

AUTHORIZATION TO LENDER. If, while any Subordinated Debt is outstanding, any Insolvency Proceeding is commenced by or against the Borrower or its property: (i) the Lender is hereby irrevocably authorized and empowered (in the its name of the Guaranteed Parties or in the name of any Guarantor or otherwise), but shall have no obligation, to demand, xxx for, collect and receive every payment or distribution in respect of the Subordinated Debt and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting the Subordinated Debt) as it may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of the Guaranteed PartiesLender; and (ii) each Guarantor shall promptly take such action as the Lender may reasonably request (A) to collect the Subordinated Debt for the account of the Guaranteed Parties Lender and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to the Lender, such powers of attorney, assignments and other instruments as it may request to enable it to enforce any and all claims with respect to the Subordinated Debt, and (C) to collect and receive any and all Subordinated Debt Payments.

AUTHORIZATION TO LENDER. If, while any Subordinated Debt is outstanding, any Insolvency Proceeding is commenced commenced, by or against the Borrower or its property: (i) the Lender is hereby irrevocably authorized and empowered (in the name of the Guaranteed Parties Lender or in the name of any Guarantor or otherwise), but shall have no obligation, to demand, xxx for, collect and receive every payment or distribution in respect of the Subordinated Debt and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting the Subordinated Debt) as it may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of the Guaranteed PartiesLender; and (ii) each Guarantor shall promptly take such action as the Lender may reasonably request (A) to collect the Subordinated Debt for the account of the Guaranteed Parties Lender and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to the Lender, such powers of attorney, assignments and other instruments as it may request to enable it to enforce any and all claims with respect to the Subordinated Debt, and (C) to collect and receive any and all Subordinated Debt Payments.

AUTHORIZATION TO LENDER. If, while any Subordinated Debt is outstanding, any Insolvency Proceeding is commenced by or against the Borrower Event shall occur and be continuing with respect to any other Obligor or its property: : (i) the Lender hereby is hereby irrevocably authorized and empowered (in the name of the Guaranteed Parties or in the name of any Guarantor each Obligor or otherwise), but shall have no obligation, to demand, xxx for, collect collect, and receive every payment or distribution in respect of the Subordinated Debt and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting the Subordinated Debt) as it may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of Lender and the Guaranteed PartiesBank Product Providers; and and (ii) each Guarantor Obligor shall promptly take such action as the Lender reasonably may reasonably request (A) to collect the Subordinated Debt for the account of Lender and the Guaranteed Parties Bank Product Providers and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to the Lender, Lender such powers of attorney, assignments assignments, and other instruments as it may request to enable it to enforce any and all claims with respect to the Subordinated Debt, and (C) to collect and receive any and all Subordinated Debt Payments.

AUTHORIZATION TO LENDER. If, while any Subordinated Debt is outstanding, there is an occurrence and continuation of an Event of Default with respect to any Insolvency Proceeding other Obligor which is commenced by or against the Borrower a Loan Party or its property: : (i) the Lender is hereby irrevocably authorized and empowered (in the name of the Guaranteed Parties or in the name of any Guarantor each Obligor or otherwise), but shall have no obligation, to demand, xxx sue for, collect collect, and receive every payment or distribution in respect of the Subordinated Debt and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting the Subordinated Debt) as it may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of the Guaranteed PartiesLender; and and (ii) each Guarantor Obligor shall promptly take such action as the Lender reasonably may reasonably request (A) to collect the Subordinated Debt for the account of the Guaranteed Parties Lender and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to the Lender, Lender such powers of attorney, assignments assignments, and other instruments as it may request to enable it to enforce any and all claims with respect to the Subordinated Debt, and (C) to collect and receive any and all Subordinated Debt Payments.