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 Borrower or its property: (i) Lender is hereby irrevocably authorized and empowered (in the name of Lender or in the name of 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 Lender; and (ii) Guarantor shall promptly take such action as Lender may reasonably request (A) to collect the Subordinated Debt for the account of Lender and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to 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, 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 Borrower a Loan Party or its property: : (i) Lender is hereby irrevocably authorized and empowered (in the name of Lender or in the name of 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 Lender; and and (ii) Guarantor each Obligor shall promptly take such action as Lender reasonably may reasonably request (A) to collect the Subordinated Debt for the account of Lender and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to 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, 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 its name of 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 Lender; 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 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 Borrower Event shall occur and be continuing with respect to any other Obligor or its property: : (i) Lender hereby is hereby irrevocably authorized and empowered (in the name of Lender or in the name of 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 LenderLender and the Bank Product Providers; and and (ii) Guarantor each Obligor shall promptly take such action as Lender reasonably may reasonably request (A) to collect the Subordinated Debt for the account of Lender and the Bank Product Providers and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to 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, 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 Lender 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 Lenderthe 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 Lender 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 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) Lender is hereby irrevocably authorized and empowered (in the name of Lender or in the name of 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 Lender; and and (ii) Guarantor each Obligor shall promptly take such action as Lender reasonably may reasonably request (A) to collect the Subordinated Debt for the account of Lender and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to 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.