Common use of Collection of Accounts; Power of Attorney Clause in Contracts

Collection of Accounts; Power of Attorney. Upon and during the continuation of a Matured Default, Borrower agrees, upon U.S. Bank’s demand, to establish a lockbox into which Account Debtors shall make payments to be applied to the Liabilities pursuant to Section 10.14. Upon and during the continuation of a Matured Default, Borrower designates, makes, constitutes and appoints U.S. Bank (and all Persons designated by U.S. Bank) as Borrower’s true and lawful attorney-in-fact, with power, in Borrower’s or U.S. Bank’s name, to: (a) demand payment of Accounts; (b) enforce payment of Accounts by legal proceedings or otherwise; (c) exercise all of Borrower’s rights and remedies with respect to proceedings brought to collect an Account; (d) sell or assign any Account upon such terms, for such amount and at such time or times as U.S. Bank deems advisable; (e) settle, adjust, compromise, extend or renew any Account; (f) discharge and release any Account; (g) take control in any manner of any item of payment or proceeds of any Account; (h) prepare, file and sign Borrower’s name upon any items of payment or proceeds and deposit the same to U.S. Bank’s account on account of the Liabilities; (i) endorse Borrower’s name upon any Chattel Paper, Document, Instrument, invoice, warehouse receipt, xxxx of lading, or similar Document or agreement relating to any Account or any other Collateral; (j) sign Borrower’s name on any verification of Accounts and notices to Account Debtors; (k) prepare, file and sign Borrower’s name on any proof of claim in bankruptcy or similar proceeding against any Account Debtor; and (l) do all acts and things which are necessary, in U.S. Bank’s sole discretion, to sell, transfer or otherwise obtain the proceeds of any Collateral or otherwise to fulfill Borrower’s obligations under this Agreement. The foregoing power of attorney is coupled with an interest and is therefore irrevocable.

Collection of Accounts; Power of Attorney. Upon and during the continuation of a Matured Default, Borrower agrees, upon U.S. Bank’s demand, shall continue to establish maintain a lockbox with LaSalle Bank National Association and a related Deposit Account with U.S. Bank into which Account Debtors shall make payments to be applied (i) while a Sharing Period under the Intercreditor Agreement is not in effect, to the Liabilities pursuant under the Credit Agreement, and (ii) while a Sharing Period under the Intercreditor Agreement is in effect, to Section 10.14the Obligations in accordance with the Intercreditor Agreement. Upon and during the continuation of a Matured Default, Borrower designates, makes, constitutes and appoints U.S. Bank the Agent (and all Persons designated by U.S. Bankthe Agent) as Borrower’s true and lawful attorney-in-fact, with power, in Borrower’s or U.S. Bankthe Agent’s name, to: (a) demand payment of Accounts; (b) enforce payment of Accounts by legal proceedings or otherwise; (c) exercise all of Borrower’s rights and remedies with respect to proceedings brought to collect an Account; (d) sell or assign any Account upon such terms, for such amount and at such time or times as U.S. Bank the Agent deems advisable; (e) settle, adjust, compromise, extend or renew any Account; (f) discharge and release any Account; (g) take control in any manner of any item of payment or proceeds of any Account; (h) prepare, file and sign Borrower’s name upon any items of payment or proceeds and deposit the same to U.S. Bankthe Agent’s account on account of the LiabilitiesObligations; (i) endorse Borrower’s name upon any Chattel Paper, Document, Instrument, invoice, warehouse receipt, xxxx bxxx of lading, or similar Document or agreement relating to any Account or any other Collateral; (j) sign Borrower’s name on any verification of Accounts and notices to Account Debtors; (k) prepare, file and sign Borrower’s name on any proof of claim in bankruptcy or similar proceeding against any Account Debtor; and (l) do all acts and things which are necessary, in U.S. Bankthe Agent’s sole reasonable discretion, to sell, transfer or otherwise obtain the proceeds of any Collateral or otherwise to fulfill Borrower’s obligations under this Security Agreement. The foregoing power of attorney is coupled with an interest and is therefore irrevocable. Borrower shall not permit to exist any other depository account for the deposit of proceeds Collateral of any type whatsoever, except the accounts referred to in this Section 2.6 or such other Deposit Account as may from time to time be approved in advance in writing by the Agent.

Collection of Accounts; Power of Attorney. Upon and during the continuation occurrence of a Matured Default, Borrower agreesDomestic Borrowers, jointly and severally, agree, upon U.S. Bank’s Lender's demand, to establish a lockbox into which Account Debtors shall make payments to be applied to the Liabilities pursuant to Section 10.14payments. Upon and during the continuation of a Matured Default, Borrower designatesDomestic Borrowers, makesjointly and severally, constitutes designate, make, constitute and appoints U.S. Bank appoint Lender (and all Persons designated by U.S. BankLender) as each Domestic Borrower’s 's true and lawful attorney-in-fact, with power, in each such Borrower’s 's or U.S. Bank’s Lender's name, to: (a) demand payment of Accounts; (b) enforce payment of Accounts by legal proceedings or otherwise; (c) exercise all of such Domestic Borrower’s 's rights and remedies with respect to proceedings brought to collect an Account; (d) sell or assign any Account upon such terms, for such amount and at such time or times as U.S. Bank Lender deems advisable; (e) settle, adjust, compromise, extend or renew any Account; (f) discharge and release any Account; (g) take control in any manner of any item of payment or proceeds of any Account; (h) prepare, file and sign such Domestic Borrower’s 's name upon any items of payment or proceeds and deposit the same to U.S. Bank’s Lender's account on account of the Liabilities; (i) endorse such Domestic Borrower’s 's name upon any Chattel Paper, Document, Instrument, invoice, warehouse receipt, xxxx bill of lading, or similar Document or agreement relating to any Account Accoxxx or any other Collateral; (j) sign such Domestic Borrower’s 's name on any verification of Accounts and notices to Account Debtors; (k) prepare, file and sign such Domestic Borrower’s 's name on any proof of claim in bankruptcy or similar proceeding against any Account Debtor; and (l) do all acts and things which are necessary, in U.S. Bank’s Lender's sole discretion, to sell, transfer or otherwise obtain the proceeds of any Collateral or otherwise to fulfill such Domestic Borrower’s 's obligations under this Agreement. The foregoing power of attorney is coupled with an interest and is therefore irrevocable.

Collection of Accounts; Power of Attorney. At the request of the Agent, Borrower shall take all reasonable steps, including without limitation, the placement of such designations on invoices as may be appropriate, to cause all Account Debtors to make all payments to Borrower for Borrower’s prompt deposit in a blocked account at CoBank or such other bank as the Agent shall require, which account shall be subject to a blocked account agreement or control agreement in form and content acceptable to the Agent. Upon and during the continuation occurrence of a Matured Default, Borrower agrees, upon U.S. Bankthe Agent’s demand, to establish a lockbox into which Account Debtors shall make payments to be applied to the Liabilities pursuant to Section 10.14payments. Upon and during the continuation of a Matured Default, Borrower hereby designates, makes, constitutes and appoints U.S. Bank the Agent (and all Persons designated by U.S. Bankthe Agent) as Borrower’s true and lawful attorney-in-fact, with power, in Borrower’s or U.S. Bankthe Agent’s name, during the existence of a Matured Default, to: (a) demand payment of Accounts; (b) enforce payment of Accounts by legal proceedings or otherwise; (c) exercise all of Borrower’s rights and remedies with respect to proceedings brought to collect an Account; (d) sell or assign any Account upon such terms, for such amount and at such time or times as U.S. Bank the Agent deems advisable; (e) settle, adjust, compromise, extend or renew any Account; (f) discharge and release any Account; (g) take control in any manner of any item of payment or proceeds of any Account; (h) prepare, file and sign Borrower’s name upon any items of payment or proceeds and deposit the same to U.S. Bankthe Agent’s account on account of the Liabilities; (i) endorse Borrower’s name upon any Chattel Paper, Document, Instrument, invoice, warehouse receipt, xxxx bxxx of lading, or similar Document or agreement relating to any Account or any other Collateral; (j) sign Borrower’s name on any verification of Accounts and notices to Account Debtors; (k) prepare, file and sign Borrower’s name on any proof of claim in bankruptcy or similar proceeding against any Account Debtor; and (l) do all acts and things which are necessary, in U.S. Bankthe Agent’s sole discretion, to sell, transfer or otherwise obtain the proceeds of any Collateral or otherwise to fulfill Borrower’s obligations under this Agreement. The foregoing power of attorney is coupled with an interest and is therefore irrevocable.