Common use of Authorization to Lender Clause in Contracts

Authorization to Lender. If, while any Subordinated Debt is outstanding, any Insolvency Event shall occur and be continuing with respect to another Obligor or its property which is not otherwise permitted under the Loan Agreements: (i) Lender is hereby irrevocably authorized and empowered (in the name of each Obligor or otherwise), but shall have no obligation, to demand, s▇▇ 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) each Obligor shall promptly take such action as Lender reasonably may 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 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 Event shall occur and be continuing with respect to another any other Obligor or its property which is not otherwise permitted under the Loan Agreementsproperty: (i) Lender hereby is hereby irrevocably authorized and empowered (in the name of each Obligor or otherwise), but shall have no obligation, to demand, s▇▇▇ 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 LenderLender and the Bank Product Providers; and (ii) each Obligor shall promptly take such action as Lender reasonably may 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 such powers of attorney, 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 there is an occurrence and continuation of an Event shall occur and be continuing of Default with respect to another any other Obligor which is a Loan Party or its property which is not otherwise permitted under the Loan Agreementsproperty: (i) Lender is hereby irrevocably authorized and empowered (in the name of each Obligor or otherwise), but shall have no obligation, to demand, s▇▇ sue 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) each Obligor shall promptly take such action as Lender reasonably may 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 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 Event shall occur and be continuing with respect to another Obligor Proceeding is commenced by or against the Borrower or its property which is not otherwise permitted under the Loan Agreements: property: (i) the Lender is hereby irrevocably authorized and empowered (in the name of each Obligor the Guaranteed Parties or in the name of any Guarantor or otherwise), but shall have no obligation, to demand, s▇▇▇ 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 Lenderthe Guaranteed Parties; and and (ii) each Obligor Guarantor shall promptly take such action as the Lender may reasonably may 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 Lender the 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.