Bank Appointed Attorney-in-Fact. The Bank is hereby irrevocably appointed attorney- in-fact for the Creditor with full power to act in stead of the Creditor to sign financing statements reflecting the assignment of Subordinated Debt and collateral and guarantees therefor and to act in all matters concerning the Subordinated Debt including the right to make, present, file and vote proofs of claim against any Borrower on account of all or part of the Subordinated Debt and receive and collect any dividends thereon, foreclose under any mortgage or security agreements or otherwise take possession of and sell collateral and collect against any guarantees and apply proceeds of such dividends, sale or collection to reduction of Subordinated Debt and to compromise or settle any claim related thereto.
Appears in 4 contracts
Samples: Security Agreement (COMMITTED CAPITAL ACQUISITION Corp), Subordination Agreement (COMMITTED CAPITAL ACQUISITION Corp), Subordination Agreement (COMMITTED CAPITAL ACQUISITION Corp)
