Common use of Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact Clause in Contracts

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event of Default shall have occurred and be continuing, Collateral Agent may (but shall not be obligated to) remedy or cause to be remedied any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreement. Any and all amounts so expended by Collateral Agent shall be paid by the Pledgors in accordance with the provisions of Section 7.03. Neither the provisions of this Section 7.02 nor any action taken by Collateral Agent pursuant to the provisions of this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Default. Each Pledgor hereby appoints Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in Collateral Agent’s discretion to take any action and to execute any instrument consistent with the terms hereof and the other Loan Documents that Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant of authority is an irrevocable power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 5 contracts

Samples: Credit Agreement (Herbalife Ltd.), Security Agreement (Wh Holdings Cayman Islands LTD), Security Agreement (Herbalife Ltd.)

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Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event of Default any Grantor shall have occurred and be continuingfail to perform any covenants contained in this Security Agreement or in the Credit Agreement, the Collateral Agent may (but shall not be obligated to) remedy do the same or cause it to be remedied done or remedy any such breach, and may expend funds for such purpose; provided thatprovided, however, that Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that which such Pledgor Grantor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreementhereby. Any and all amounts so expended by the Collateral Agent shall be paid by the Pledgors Grantors in accordance with the provisions of Section 7.03SECTION 9.3 hereof. Neither the provisions of this Section 7.02 SECTION 9.2 nor any action taken by Collateral Agent pursuant to the provisions of this Section 7.02 SECTION 9.2 shall prevent any such failure by any Pledgor to observe any covenant contained in this Security Agreement nor any breach of warranty from constituting an Event of Default. Each Pledgor Grantor hereby appoints the Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor Grantor and in the name of such PledgorGrantor, or otherwise, from time to time after the occurrence and during the continuance continuation of an Event of Default in the Collateral Agent’s discretion to take any action and to execute any instrument consistent with the terms hereof of the Credit Agreement and the other Loan Security Documents that which the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant of authority is an irrevocable a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereofhereof until the termination of this Security Agreement in accordance with SECTION 9.5. Each Pledgor Grantor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 2 contracts

Samples: Security Agreement (FDO Holdings, Inc.), Security Agreement (FDO Holdings, Inc.)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event of Default shall have occurred and be continuing, the Collateral Agent may (but shall not be obligated to) remedy or cause to be remedied any such breach, and may expend funds for such purpose; provided thatprovided, however, that the Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that which such Pledgor fails to pay or perform as and when required hereby and that which such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreement. Any and all amounts so expended by the Collateral Agent shall be paid by the Pledgors in accordance with the provisions of Section 7.036.03 hereof. Neither the provisions of this Section 7.02 6.02 nor any action taken by Collateral Agent pursuant to the provisions of this Section 7.02 6.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Default. Each Pledgor hereby appoints the Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in the Collateral Agent’s discretion to take any action and to execute any instrument consistent with the terms hereof and the other Loan Documents that which the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. Except where prior notice is expressly required by the terms of this Agreement, the Collateral Agent shall provide prompt notice to the Pledgor following any action taken in the preceding sentence, provided that failure to deliver such notice shall not limit the Collateral Agent’s right to take such action or the validity of any such action. The foregoing grant of authority is an irrevocable a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 2 contracts

Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event of Default shall have occurred and be continuing, Collateral Agent may (but shall not be obligated to) remedy or cause to be remedied any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 6.3 of the Credit Agreement. Any and all amounts so expended by Collateral Agent shall be paid by the Pledgors in accordance with the provisions of Section 7.03. Neither the provisions of this Section 7.02 nor any action taken by Collateral Agent pursuant to the provisions of this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Default. Each Pledgor hereby appoints Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in Collateral Agent’s discretion to take any action and to execute any instrument consistent with the terms hereof and the other Loan Documents that Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant , including, without limitation, any or all of authority is an irrevocable power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.following actions:

Appears in 1 contract

Samples: Credit Agreement (Herbalife Nutrition Ltd.)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If any Pledgor shall fail to do any act or thing that it has covenanted to do hereunder or if any warranty on the part of any such Pledgor contained herein shall be breached and if such failure or breach shall constitute an Event of Default shall have occurred and be continuingDefault, the Collateral Agent or any Secured Party may (but shall not be obligated to) remedy do the same or cause it to be remedied done or remedy any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreement. Any and all amounts so expended by the Collateral Agent or such Secured Party shall be paid by the Pledgors in accordance applicable Pledgor within five Business Days after demand therefor, with interest at the provisions Default Rate during the period from and including the date on which such funds were so expended to the date of repayment. Each Pledgor's obligations under this Section 7.03. Neither 15 shall survive the provisions termination of this Section 7.02 nor any action taken by Collateral Agent pursuant to Agreement and the provisions discharge of each Pledgor's other obligations under this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of DefaultAgreement. Each Pledgor hereby appoints the Collateral Agent its attorney-in-factfact with an interest, with full authority in the place and stead of such the applicable Pledgor and in the name of such the applicable Pledgor, or otherwise, from time to time during in the continuance of an Event of Default in Collateral Agent’s discretion 's discretion, to take any action and to execute any instrument consistent with the terms hereof of this Agreement, the Indenture and the other Loan Documents that Intercreditor Agreement which the Collateral Agent may deem necessary or advisable to accomplish the purposes hereofof this Agreement. The foregoing grant of authority is an irrevocable a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereofof this Agreement. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue and in accordance with the terms hereof.

Appears in 1 contract

Samples: Security Agreement (Rti Capital Corp)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event of Default any Grantor shall have occurred and be continuingfail to perform any covenants contained in this Security Agreement or in the Credit Agreement, the Collateral Agent may (but shall not be obligated to) remedy do the same or cause it to be remedied done or remedy any such breach, and may expend funds for such purpose; provided thatprovided, however, that Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that which such Pledgor Grantor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreementhereby. Any and all amounts so expended by the Collateral Agent shall be paid by the Pledgors Grantors in accordance with the provisions of Section 7.03SECTION 9.3 hereof. Neither the provisions of this Section 7.02 SECTION 9.2 nor any action taken by Collateral Agent pursuant to the provisions of this Section 7.02 SECTION 9.2 shall prevent any such failure by any Pledgor to observe any covenant contained in this Security Agreement nor any breach of warranty from constituting an Event of Default. Each Pledgor Grantor hereby appoints the Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor Grantor and in the name of such PledgorGrantor, or otherwise, from time to time after the occurrence and during the continuance continuation of an Event of Default in the Collateral Agent’s discretion to take any action and to execute any instrument consistent with the terms hereof of the Credit Agreement and the other Loan Security Documents that which the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant of authority is an irrevocable a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereofhereof until the termination of this Agreement in accordance with SECTION 9.5. Each Pledgor Grantor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 1 contract

Samples: Security Agreement (FDO Holdings, Inc.)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event any Pledgor shall fail to do any act or thing that it has covenanted to do hereunder or if any warranty on the part of Default any Pledgor contained herein shall have occurred and be continuingbreached, Collateral Agent may (but shall not be obligated to) remedy do the same or cause it to be remedied done or remedy any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreement. Any and all amounts so expended by Collateral Agent shall be paid by the Pledgors promptly upon demand therefor, with interest at the highest rate then in accordance with effect under the provisions Credit Agreement during the period from and including the date on which such funds were so expended to the date of repayment. Each Pledgor's obligations under this Section 7.03. Neither 17 shall survive the provisions termination of this Section 7.02 nor Agreement and the discharge of such Pledgor's other obligations under this Agreement, the Credit Agreement, any action taken by Collateral Agent pursuant to Interest Rate Agreement and the provisions of this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Defaultother Credit Documents. Each Pledgor hereby appoints Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in Collateral Agent’s 's discretion to take any action and to execute any instrument consistent with the terms hereof of this Agreement and the other Loan Credit Documents that which Collateral Agent may deem necessary or advisable to accomplish the purposes hereofof this Agreement. The foregoing grant of authority is an irrevocable a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereofof this Agreement. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 1 contract

Samples: S. Security Agreement (Morris Material Handling Inc)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event of Default shall have occurred and be continuing, Collateral Agent may (but shall not be obligated to) remedy or cause to be remedied any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 7.01 of the Credit Agreement. Any and all amounts so expended by Collateral Agent shall be paid by the Pledgors in accordance with the provisions of Section 7.03. Neither the provisions of this Section 7.02 nor any action taken by Collateral Agent pursuant to the provisions of this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Default. Each Pledgor hereby appoints Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in Collateral Agent’s discretion to take any action and to execute any instrument consistent with the terms hereof and the other Loan Documents that Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant of authority is an irrevocable power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 1 contract

Samples: Credit Agreement (Herbalife Ltd.)

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Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event of Default shall have occurred and be continuing, Collateral Agent may (but shall not be obligated to) remedy or cause to be remedied any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 7.01 of the Credit Agreement. Any and all amounts so expended by Collateral Agent shall be paid by the Pledgors in accordance with the provisions of Section 7.037.03 . Neither the provisions of this Section 7.02 nor any action taken by Collateral Agent pursuant to the provisions of this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Default. Each Pledgor hereby appoints Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in Collateral Agent’s discretion to take any action and to execute any instrument consistent with the terms hereof and the other Loan Documents that Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant of authority is an irrevocable power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 1 contract

Samples: Credit Agreement (Herbalife Ltd.)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event of Default shall have occurred and be continuing, Collateral Agent may (but shall not be obligated to) remedy or cause to be remedied any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreement. Any and all amounts so expended by Collateral Agent shall be paid by the Pledgors in accordance with the provisions of Section 7.03. Neither the provisions of this Section 7.02 nor any action taken by Collateral Agent pursuant to the provisions of this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Default. Each Pledgor hereby appoints Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in Collateral Agent’s 's discretion to take any action and to execute any instrument consistent with the terms hereof and the other Loan Documents that Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant of authority is an irrevocable power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 1 contract

Samples: Security Agreement (Herbalife International Inc)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event Pledgor shall fail to do any act or thing that it has covenanted to do hereunder or if any warranty on the part of Default Pledgor contained herein shall have occurred and be continuingbreached, Collateral Agent or any Secured Party may (but shall not be obligated to) remedy do the same or cause it to be remedied done or remedy any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreement. Any and all amounts so expended by Collateral Agent or such Secured party shall be paid by Pledgor promptly upon demand therefor, with interest at the Pledgors highest rate then in accordance with effect under the provisions Indenture during the period from the including the date on which such funds were so expended to the date of repayment. Pledgor's obligations under this Section 7.03. Neither 14 shall survive the provisions termination of this Section 7.02 nor any action taken by Collateral Agent pursuant to Agreement and the provisions discharge of Pledgor's other obligations under this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of DefaultAgreement. Each Pledgor hereby appoints Collateral Agent its attorney-in-factfact with an interest, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in Collateral Agent’s 's discretion to take any action and to execute any instrument consistent with the terms hereof and of this Agreement which the other Loan Documents that Collateral Agent may deem necessary or advisable to accomplish the purposes hereofof this Agreement. The foregoing grant of authority is an irrevocable a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereofof this Agreement. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 1 contract

Samples: Security Agreement (Doe Run Resources Corp)

Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact. If an Event Pledgor shall fail to do any act or thing that it has covenanted to do hereunder or if any warranty on the part of Default Pledgor contained herein shall have occurred and be continuingbreached, Collateral Agent or any Secured Party may (but shall not be obligated to) remedy do the same or cause it to be remedied done or remedy any such breach, and may expend funds for such purpose; provided that, Collateral Agent shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation that such Pledgor fails to pay or perform as and when required hereby and that such Pledgor does not contest in accordance with the provision of Section 6.02 of the Credit Agreement. Any and all amounts so expended by Collateral Agent or such Secured Party shall be paid by Pledgor promptly upon demand therefor, with interest at the Pledgors highest rate then in accordance with effect under the provisions Amended and Restated Credit Agreement during the period from and including the date on which such funds were so expended to the date of repayment. Pledgor's obligations under this Section 7.03. Neither 15 shall survive the provisions termination of this Section 7.02 nor Agreement and the discharge of Pledgor's other obligations under this Agreement, the Amended and Restated Credit Agreement, any action taken by Collateral Agent pursuant to Interest Rate Agreement and the provisions of this Section 7.02 shall prevent any such failure by any Pledgor to observe any covenant contained in this Agreement nor any breach of warranty from constituting an Event of Defaultother Credit Documents. Each Pledgor hereby appoints Collateral Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time during the continuance of an Event of Default in Collateral Agent’s 's discretion to take any action and to execute any instrument consistent with the terms hereof of this Agreement and the other Loan Credit Documents that which the Collateral Agent may deem necessary or advisable to accomplish the purposes hereofof this Agreement. The foregoing grant of authority is an irrevocable a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereofof this Agreement. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

Appears in 1 contract

Samples: General Security Agreement (Wells Aluminum Corp)

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