Common use of Collateral Agent Authorization Clause in Contracts

Collateral Agent Authorization. Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (A) in the name of each Subsidiary Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (B) to require each Subsidiary Guarantor (1) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest).

Collateral Agent Authorization. Upon After the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (A) in the name of each Subsidiary Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (B) to require each Subsidiary Guarantor (1) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest).

Collateral Agent Authorization. Upon Subject to the Intercreditor Agreement and after the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (Ai) in the name of each Subsidiary GuarantorGrantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Secured Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor Grantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Secured Obligations (including any and all Post-Petition Interest).

Collateral Agent Authorization. Upon After the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (Ai) in the name of each Subsidiary Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest).

Collateral Agent Authorization. Upon After the occurrence and during the continuance of any an Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (Ai) in the name of each Subsidiary Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Administrative Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest).

Collateral Agent Authorization. Upon Subject to the Intercreditor Agreements and after the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (Ai) in the name of each Subsidiary GuarantorGrantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Secured Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor Grantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Secured Obligations (including any and all Post-Petition Interest).

Collateral Agent Authorization. Upon After the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretiondiscretion (acknowledging the terms of the Intercreditor Agreement), (Ai) in the name of each Subsidiary Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest)) in each case in accordance with the terms of the Intercreditor Agreement.

Collateral Agent Authorization. Upon Subject to the Intercreditor Agreements and after the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (Ai) in the name of each Subsidiary GuarantorGrantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Secured Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor Grantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Secured Obligations (including any and all Post-Post- Petition Interest).