Common use of Certain Rights After Event of Default Clause in Contracts

Certain Rights After Event of Default. Each Credit Party hereby irrevocably constitutes and appoints the Collateral Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full power and authority in the name of such Credit Party or otherwise, from time to time in the Collateral Agent’s discretion, so long as any event of default under any Loan Document has occurred and is continuing, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to carry out the terms of this Agreement or any Security Document and to accomplish the purposes hereof and thereof and, without limiting the generality of the foregoing, such Credit Party hereby gives the Collateral Agent the power and right on behalf of such Credit Party, without notice to or further assent by such Credit Party, to do the following: (a) to ask for, demand, xxx for, collect, receive and give acquittance for any and all moneys due or to become due upon, or in connection with, the Collateral; (b) to receive, take, endorse, assign and deliver any and all checks, notes, drafts, acceptances, documents and other negotiable and nonnegotiable instruments taken or received by the Collateral Agent as, or in connection with, the Collateral; (c) to commence, prosecute, defend, settle, compromise or adjust any claim, suit, action or proceeding with respect to, or in connection with, the Collateral; (d) to sell, transfer, assign or otherwise deal in or with the Collateral or any part thereof as fully and effectively as if the Collateral Agent were the absolute owner thereof; and (e) to do, at its option and at the expense and for the account of such Credit Party, at any time or from time to time, all acts and things which the Collateral Agent deems necessary to protect or preserve the Collateral and to realize upon the Collateral.

Certain Rights After Event of Default. Each Credit Party NWB hereby irrevocably constitutes and appoints the Collateral Agent each Secured Creditor and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full power and authority in the name of such Credit Party NWB or otherwise, from time to time in the Collateral Agentsuch Secured Creditor’s discretion, so long as any event of default under any Loan Document has occurred and is continuing, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to carry out the terms of this Agreement or any Security Loan Document and to accomplish the purposes hereof and thereof and, without limiting the generality of the foregoing, such Credit Party NWB hereby gives the Collateral Agent such Secured Creditor the power and right on behalf of such Credit PartyNWB, without notice to or further assent by such Credit PartyNWB, to do the following: (a) to ask for, demand, xxx sxx for, collect, receive and give acquittance for any and all moneys due or to become due upon, or in connection with, the Collateral; (b) to receive, take, endorse, assign and deliver any and all checks, notes, drafts, acceptances, documents and other negotiable and nonnegotiable instruments taken or received by the Collateral Agent Secured Creditor as, or in connection with, the Collateral; (c) to commence, prosecute, defend, settle, compromise or adjust any claim, suit, action or proceeding with respect to, or in connection with, the Collateral; (d) to sell, transfer, assign or otherwise deal in or with the Collateral or any part thereof as fully and effectively as if the Collateral Agent such Secured Creditor were the absolute owner thereof; and (e) to do, at its option and at the expense and for the account of such Credit Party, at any time or from time to time, all acts and things which the Collateral Agent such Secured Creditor deems necessary to protect or preserve the Collateral and to realize upon the Collateral.

Certain Rights After Event of Default. Each Credit Party Grantor hereby irrevocably constitutes and appoints the Collateral Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full power and authority in the name of such Credit Party Grantor or otherwise, from time to time in the Collateral Agent’s 's discretion, so long as any event Event of default under any Loan Document Default has occurred and is continuing, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to carry out the terms of this Agreement or any other Security Document and to accomplish the purposes hereof and thereof and, without limiting the generality of the foregoing, such Credit Party Grantor hereby gives the Collateral Agent the power and right on behalf of such Credit PartyGrantor, without notice to or further assent by such Credit PartyGrantor, to do the following: (a) to ask for, demand, xxx for, collect, receive and give acquittance for any and all moneys due or to become due upon, or in connection with, the Joint Stock Collateral; (b) to receive, take, endorse, assign and deliver any and all checks, notes, drafts, acceptances, documents and other negotiable and nonnegotiable non-negotiable instruments taken or received by the Collateral Agent as, or in connection with, the Joint Stock Collateral; (c) to commence, prosecute, defend, settle, compromise or adjust any claim, suit, action or proceeding with respect to, or in connection with, the Joint Stock Collateral; (d) to sell, transfer, assign or otherwise deal in or with the Joint Stock Collateral or any part thereof as fully and effectively as if the Collateral Agent were the absolute owner thereof; and (e) to do, at its option and at the expense and for the account of such Credit PartyGrantor, at any time or from time to time, all acts and things which the Collateral Agent deems necessary to protect or preserve the Joint Stock Collateral and to realize upon the Joint Stock Collateral.