Common use of Authorized Actions Clause in Contracts

Authorized Actions. The Agent is hereby irrevocably authorized by the Banks, without any further action by any Bank, to release the Agent's liens in Collateral: (i) if such Collateral is permitted to be sold or otherwise disposed of under Section 5.02(i); (ii) if the Supermajority Banks instruct the Agent to effectuate, permit or consent to a sale or other disposition or foreclosure or other realization of Collateral; or (iii) upon collateralization and payment and satisfaction of all other non-contingent obligations of the Borrower under the Loan Documents.

Authorized Actions. The Agent is hereby irrevocably authorized by the Banks, without any further action by any Bank, to release the Agent's ’s liens in Collateral: (i) if such Collateral is permitted to be sold or otherwise disposed of under Section 5.02(i); (ii) if the Supermajority Banks instruct the Agent to effectuate, permit or consent to a sale or other disposition or foreclosure or other realization of Collateral; or (iii) upon collateralization and payment and satisfaction of all other non-contingent obligations of the Borrower Borrowers under the Loan Documents.

Authorized Actions. The Agent is hereby irrevocably authorized by the Banks, without any further action by any Bank, to release the Agent's liens in Collateral: (i) if such Collateral is permitted to be sold or otherwise disposed of under Section 5.02(i); hereunder, (ii) if the Supermajority Banks instruct the Agent to effectuatebook value of such Collateral is $1,000,000.00 or less, permit or consent to a sale or other disposition or foreclosure or other realization of Collateral; or and (iii) upon collateralization termination of the Commitments and payment and satisfaction of all other non-contingent obligations of the Borrower under the Loan Documents.

Authorized Actions. The Agent is hereby irrevocably authorized by the Banks, without any further action by any Bank, to release the Agent's ’s liens in Collateral: (i) if such Collateral is permitted to be sold or otherwise disposed of under Section 5.02(i); (ii) if the Supermajority Banks instruct the Agent to effectuate, permit or consent to a sale or other disposition or foreclosure or other realization of Collateral; or (iii) upon collateralization and payment and satisfaction of all other non-contingent obligations of the Borrower under the Loan Documents.