BANK’S RIGHTS AS TO COLLATERAL; POWER OF ATTORNEY. At any time or times, at the expense of the Obligors, the Bank may in its discretion, before or after the occurrence of an Event of Default as defined in Section 5.01 hereof, in its own name or in the name of its nominee or of any Obligor, do any or all things and take any and all actions that are pertinent to the protection of the Bank’s interest hereunder and are lawful under applicable law, including, but not limited to, the following: (A) Terminate any consent given hereunder; (B) Notify obligors on any Collateral to make payments or render performance thereon directly to the Bank; (C) Endorse any Collateral in any Obligor’s name; (D) Enter into any extension, compromise, settlement, or other agreement relating to or affecting any Collateral; (E) Take any action any Obligor is required to take or which is otherwise reasonably necessary to file a financing statement, take possession of Collateral, obtain control of Collateral or otherwise perfect a security interest in any or all of the Collateral. (F) Take any action any Obligor is permitted to take in connection with the Collateral, to the same extent as if the Bank were the originator of the Collateral; (G) Take control of any funds or other proceeds generated by the Collateral and use the same to reduce Liabilities as they become due; and (H) Cause the Collateral to be transferred to its name or the name of its nominee. Each Obligor hereby appoints the Bank as its true and lawful attorney, for and on behalf of the Obligor and in its name, place and stead, to prepare, execute and record endorsements and assignments to the Bank of all or any item of Collateral, giving or granting to the Bank, as such attorney, full power and authority to do or perform every lawful act necessary or proper in connection therewith as fully as the Obligor might or could do. Each Obligor hereby ratifies and confirms all that the Bank shall lawfully do or cause to be done by virtue of this special power of attorney. This special power of attorney is granted for a period commencing on the date hereof and continuing until the discharge of all Liabilities and all obligations of the Obligors hereunder regardless of any default by any Obligor, is coupled with an interest, and is irrevocable for the period granted.
Appears in 1 contract
Samples: Advances and Security Agreement (Cooperative Bankshares Inc)
BANK’S RIGHTS AS TO COLLATERAL; POWER OF ATTORNEY. At any time or -------------------------------------------------- times, at the expense of the ObligorsMember, the Bank may in its discretion, before or after the occurrence of an Event of Default as defined in Section 5.01 4.01 hereof, in its own name or in the name of its nominee or of any Obligorthe Member, do any or all things and take any and all actions that are pertinent to the protection of the Bank’s 's interest hereunder and are lawful under applicable lawthe laws of the State of Georgia, including, but not limited to, the following:
(A) Terminate any consent given hereunder;
(B) Notify obligors on any Collateral to make payments or render performance thereon directly to the Bank;
(C) Endorse any Collateral in any Obligor’s the Member's name;
(D) Enter into any extension, compromise, settlement, or other agreement relating to or affecting any Collateral;
(E) Take any action any Obligor the Member is required to take or which is otherwise reasonably necessary to file (1) sign and record a financing statement, take possession of Collateral, obtain control of Collateral statement or otherwise perfect a security interest in any or all of the Collateral.
Collateral or (F2) Take any action any Obligor is permitted to take in connection with the Collateralobtain, to the same extent as if the Bank were the originator of preserve, protect, enforce or collect the Collateral;
(GF) Take control of any funds or other proceeds generated by the Collateral and use the same to reduce Liabilities indebtedness as they become it becomes due; and
(HG) Cause the Collateral to be transferred to its name or the name of its nominee. Each Obligor The Member hereby appoints the Bank as its true and lawful attorney, for and on behalf of the Obligor Member and in its name, place and stead, to prepare, execute and record endorsements and assignments to the Bank of all or any item of Collateral, giving or granting to the Bank, as such attorney, full power and authority to do or perform every lawful act necessary or proper in connection therewith as fully as the Obligor Member might or could do. Each Obligor The Member hereby ratifies and confirms all that the Bank shall lawfully do or cause to be done by virtue of this special power of attorney. This special power of attorney is granted for a period commencing on the date hereof and continuing until the discharge of all Liabilities indebtedness and all obligations of the Obligors Member hereunder regardless of any default by any Obligorthe Member, is coupled with an interest, and is irrevocable for the period granted.
Appears in 1 contract
Samples: Agreement for Advances and Security Agreement (Amsouth Bancorporation)
BANK’S RIGHTS AS TO COLLATERAL; POWER OF ATTORNEY. At any time or times, at the expense of the Obligors, the Bank may in its discretion, before or after the occurrence of an Event of Default as defined in Section 5.01 hereof, in its own name or in the name of its nominee or of any Obligor, do any or all things and take any and all actions that are pertinent to the protection of the Bank’s interest hereunder and are lawful under applicable law, including, but not limited to, the following:
(A) Terminate any consent given hereunder;
(B) Notify obligors on any Collateral to make payments or render tender performance thereon directly to the Bank;
(C) Endorse any Collateral in any Obligor’s name;
(D) Enter into any extension, compromise, settlement, or other agreement relating to or affecting any Collateral;
(E) Take any action any Obligor is required to take or which is otherwise reasonably necessary to file a financing statement, take possession of Collateral, obtain control of Collateral or otherwise perfect a security interest in any or all of the Collateral.
(F) Take any action any Obligor is permitted to take in connection with the Collateral, to the same extent as if the Bank were the originator of the Collateral;
(G) Take control of any funds or other proceeds generated by the Collateral and use the same to reduce Liabilities as they become due; and
(H) Cause the Collateral to be transferred to its name or the name of its nominee. Each Obligor hereby appoints the Bank as its true and lawful attorney, for and on behalf of the Obligor and in its name, place and stead, to prepare, execute and record endorsements and assignments to the Bank of all or any item of Collateral, giving or granting to the Bank, as such attorney, full power and authority to do or perform every lawful act necessary or proper in connection therewith as fully as the Obligor might or could do. Each Obligor hereby ratifies and confirms all that the Bank shall lawfully do or cause to be done by virtue of this special power of attorney. This special power of attorney is granted for a period commencing on the date hereof and continuing until the discharge of all Liabilities and all obligations of the Obligors hereunder regardless of any default by any Obligor, is coupled with an interest, and is irrevocable for the period granted.
Appears in 1 contract
BANK’S RIGHTS AS TO COLLATERAL; POWER OF ATTORNEY. At any time or times, at the expense of the ObligorsMember, the Bank may in its discretion, before or after the occurrence of an Event of Default as defined in Section 5.01 4.01 hereof, in its own name or in the name of its nominee or of any Obligorthe Member, do any or all things and take any and all actions that are pertinent to the protection of the Bank’s 's interest hereunder and are lawful under applicable lawthe laws of the State of Georgia, including, but not limited to, the following:
(A) Terminate any consent given hereunder;
(B) Notify obligors on any Collateral to make payments or render performance thereon directly to the Bank;
(C) Endorse any Collateral in any Obligor’s the Member's name;
(D) Enter into any extension, compromise, settlement, or other agreement relating to or affecting any Collateral;
(E) Take any action any Obligor the Member is required to take or which is otherwise reasonably necessary to file (1) sign and record a financing statement, take possession of Collateral, obtain control of Collateral statement or otherwise perfect a security interest in any or all of the Collateral.
Collateral or (F2) Take any action any Obligor is permitted to take in connection with the Collateralobtain, to the same extent as if the Bank were the originator of preserve, protect, enforce or collect the Collateral;
(GF) Take control of any funds or other proceeds generated by the Collateral and use the same to reduce Liabilities Indebtedness as they become it becomes due; and
(HG) Cause the Collateral to be transferred to its name or the name of its nominee. Each Obligor The Member hereby appoints the Bank as its true and lawful attorney, for and on behalf of the Obligor Member and in its name, place and stead, to prepare, execute and record endorsements and assignments to the Bank of all or any item of Collateral, giving or granting to the Bank, as such attorney, full power and authority to do or perform every lawful act necessary or proper in connection therewith as fully as the Obligor Member might or could do. Each Obligor The Member hereby ratifies and confirms all that the Bank shall lawfully do or cause to be done by virtue of this special power of attorney. This special power of attorney is granted for a period commencing on the date hereof and continuing until the discharge of all Liabilities Indebtedness and all obligations of the Obligors Member hereunder regardless of any default by any Obligorthe Member, is coupled with an interest, and is irrevocable for the period granted.
Appears in 1 contract
Samples: Agreement for Advances and Security Agreement With Blanket Floating Lien (Gold Banc Corp Inc)
BANK’S RIGHTS AS TO COLLATERAL; POWER OF ATTORNEY. At any time or times, and at the expense of the ObligorsInstitution, the Bank may in its discretion, before or after the occurrence of an any Event of Default as defined in Section 5.01 hereofDefault, in its own name or in the name of its nominee or of any Obligorthe Institution, do any or all things and take any and all actions that are pertinent to the protection of the Bank’s 's interest hereunder and and, if such actions are subject to the laws of a state, are lawful under applicable lawthe laws of the State of Kansas, including, but not limited to, including the following:
(A) Terminate any consent given hereunder;
(B) Notify obligors on any Collateral to make payments or render performance thereon directly to the Bank;
(C) Endorse any Collateral that is in any Obligor’s the Institution's name or that has been endorsed by others to the Institution's name;
(D) Enter into any extension, compromise, settlement, settlement or other agreement relating to or affecting any Collateral;
(E) Take any action any Obligor the Institution is required to take or which that is otherwise reasonably necessary to file to: (1) sign and record a financing statement, take possession of Collateral, obtain control of Collateral statement or otherwise perfect a security interest in any or all of the Collateral.
; or (F2) Take any action any Obligor is permitted to take in connection with the Collateralobtain, to the same extent as if the Bank were the originator of preserve, protect, enforce or collect the Collateral;
(GF) Take control of any funds or other proceeds generated by or arising from the Collateral and use the same to reduce Liabilities Indebtedness as they become it becomes due; and
(HG) Cause the Collateral to be transferred to its the Bank's name or the name of its nominee. Each Obligor nominee The Institution hereby appoints the Bank as its true and lawful attorney, for and on behalf of the Obligor Institution and in In its name, place and stead, to prepare, execute and record endorsements and assignments to the Bank of all or any item of Collateral (including the identification and listing, by exhibit prepared by the Bank or otherwise, of mortgage loans constituting such Collateral, ,) giving or granting to the Bank, as such attorney, full power and authority to do or perform every lawful act necessary or proper in connection therewith as fully as the Obligor Institution could or might or could do. Each Obligor The Institution hereby ratifies and confirms all that the Bank shall lawfully do or cause to be done by virtue of this special power of attorney. This special power of attorney is granted for a period commencing on the date hereof and continuing until the discharge of all Liabilities Indebtedness and all obligations of the Obligors Institution hereunder regardless of any default by any Obligorthe Institution, is coupled with an interest, interest and is irrevocable for the period granted.. As the Institution's true and lawful attorney-in-fact, the Bank shall have no responsibility to take any steps necessary to preserve rights against prior parties or the duty to send notices, perform services or take any action in connection with the management of the
Appears in 1 contract