Common use of Designation and Authorization Clause in Contracts

Designation and Authorization. To effectuate the terms and provisions hereof, Borrower hereby designates and appoints the Agent and each of its designees or agents as attorney-in-fact of Borrower, irrevocably and with power of substitution, with authority, after the occurrence of a Default, to: receive, open and dispose of all mail addressed to Borrower and notify the Post Office authorities to change the address for delivery of mail addressed to Borrower to such address as the Agent may designate; endorse the name of Borrower on any notes, acceptances, checks, drafts, money orders, instruments or other evidences of Collateral that may come into the Agent's possession; sign the name of Borrower on any invoices, documents, drafts against and notices to account debtors or obligors of Borrower, assignments and requests for verification of accounts; execute proofs of claim and loss; execute endorsements, assignments of other instruments of conveyance or transfer; adjust and compromise any claims under insurance policies or otherwise; execute releases; and do all other acts and things necessary or advisable in the sole discretion of the Agent to carry out and enforce this Security Agreement or the Obligations. All acts done under the foregoing authorization are hereby ratified and approved and neither the Agent nor any designee or agent thereof shall be liable for any acts of commission or omission, for any error of judgment or for any mistake of fact or law. This power of attorney being coupled with an interest is irrevocable while any Obligations shall remain unpaid.

Designation and Authorization. To effectuate the terms and provisions hereof, Borrower Guarantor hereby designates and appoints the Agent and each of its designees or agents as attorney-in-fact of BorrowerGuarantor, irrevocably and with power of substitution, with authority, after the occurrence of a Default, to: receive, open and dispose of all mail addressed to Borrower Guarantor and notify the Post Office authorities to change the address for delivery of mail addressed to Borrower Guarantor to such address as the Agent may designate; endorse the name of Borrower Guarantor on any notes, acceptances, checks, drafts, money orders, instruments or other evidences of Collateral that may come into the Agent's possession; sign the name of Borrower Guarantor on any invoices, documents, drafts against and notices to account debtors or obligors of BorrowerGuarantor, assignments and requests for verification of accounts; execute proofs of claim and loss; execute endorsements, assignments of other instruments of conveyance or transfer; adjust and compromise any claims under insurance policies or otherwise; execute releases; and do all other acts and things necessary or advisable in the sole discretion of the Agent to carry out and enforce this Security Agreement or the Obligations. All acts done under the foregoing authorization are hereby ratified and approved and neither the Agent nor any designee or agent thereof shall be liable for any acts of commission or omission, for any error of judgment or for any mistake of fact or law. This power of attorney being coupled with an interest is irrevocable while any Obligations shall remain unpaid.

Designation and Authorization. To effectuate the terms and provisions hereof, Borrower Guarantor hereby designates and appoints the Agent Bank and each of its designees or agents as attorney-in-fact of BorrowerGuarantor, irrevocably and with power of substitution, with authority, after the occurrence of a Default, to: receive, open and dispose of all mail addressed to Borrower Guarantor and notify the Post Office authorities to change the address for delivery of mail addressed to Borrower Guarantor to such address as the Agent Bank may designate; endorse the name of Borrower Guarantor on any notes, acceptances, checks, drafts, money orders, instruments or other evidences of Collateral that may come into the AgentBank's possession; sign the name of Borrower Guarantor on any invoices, documents, drafts against and notices to account debtors or obligors of BorrowerGuarantor, assignments and requests for verification of accounts; execute proofs of claim and loss; execute endorsements, assignments of other instruments of conveyance or transfer; adjust and compromise any claims under insurance policies or otherwise; execute releases; and do all other acts and things necessary or advisable in the sole discretion of the Agent Bank to carry out and enforce this Security Agreement or the Obligations. All acts done under the foregoing authorization are hereby ratified and approved and neither the Agent Bank nor any designee or agent thereof shall be liable for any acts of commission or omission, for any error of judgment or for any mistake of fact or law. This power of attorney being coupled with an interest is irrevocable while any Obligations shall remain unpaid.

Designation and Authorization. To effectuate the terms and provisions hereof, Borrower Debtor hereby designates and appoints the Agent Secured Party and each of its designees or agents as attorney-in-fact of BorrowerDebtor, irrevocably and with power of substitution, with authority, after the occurrence of a Default, to: receive, open and dispose of all mail addressed to Borrower Debtor and notify the Post Office authorities to change the address for delivery of mail addressed to Borrower Debtor to such address as the Agent Secured Party may designate; endorse the name of Borrower Debtor on any notes, acceptances, checks, drafts, money orders, instruments or other evidences of Collateral that may come into the AgentSecured Party's possession; sign the name of Borrower Debtor on any invoices, documents, drafts against and notices to account debtors or obligors of BorrowerDebtor, assignments and requests for verification of accounts; execute proofs of claim and loss; execute endorsements, assignments of other instruments of conveyance or transfer; adjust and compromise any claims under insurance policies or otherwise; execute releases; and do all other acts and things necessary or advisable in the sole discretion of the Agent Secured Party to carry out and enforce this Security Agreement or the Obligations. All acts done under the foregoing authorization are hereby ratified and approved and neither the Agent Secured Party nor any designee or agent thereof shall be liable for any acts of commission or omission, for any error of judgment or for any mistake of fact or law. This power of attorney being coupled with an interest is irrevocable while any Obligations shall remain unpaid.

Designation and Authorization. To effectuate the terms and provisions hereof, Borrower Debtor hereby designates and appoints the Agent Secured Party and each of its designees or agents as attorney-in-fact of BorrowerDebtor, irrevocably and with power of substitution, with authority, after the occurrence of a Default, to: receive, open and dispose of all mail addressed to Borrower Debtor and notify the Post Office authorities to change the address for delivery of mail addressed to Borrower Debtor to such address as the Agent Secured Party may designate; endorse the name of Borrower Debtor on any notes, acceptances, checks, drafts, money orders, instruments or other evidences of Collateral that may come into the AgentSecured Party's possession; sign the name of Borrower Debtor on any invoices, documents, drafts against and notices to account debtors or obligors of BorrowerDebtor, assignments and requests for verification of accounts; execute proofs of claim and loss; execute endorsements, assignments of other instruments of conveyance or transfer; adjust and compromise any claims under insurance policies or otherwise; execute releases; and do all other acts and things necessary or advisable in the sole discretion of the Agent Secured Party to carry out and enforce this Security Agreement or the Obligations. All acts done under the foregoing authorization are hereby ratified and approved and neither the Agent Secured Party nor any designee or agent thereof shall be liable for any acts of commission or omission, for any error of judgment or for any mistake of fact or law, except for gross negligence or willful misconduct. This power of attorney being coupled with an interest is irrevocable while any Obligations shall remain unpaid.

Designation and Authorization. To effectuate the terms and provisions hereof, Borrower hereby designates and appoints the Agent Bank and each of its designees or agents as attorney-in-fact of Borrower, irrevocably and with power of substitution, with authority, after the occurrence of a Default, to: receive, open and dispose of all mail addressed to Borrower and notify the Post Office authorities to change the address for delivery of mail addressed to Borrower to such address as the Agent Bank may designate; endorse the name of Borrower on any notes, acceptances, checks, drafts, money orders, instruments or other evidences of Collateral that may come into the AgentBank's possession; sign the name of Borrower on any invoices, documents, drafts against and notices to account debtors or obligors of Borrower, assignments and requests for verification of accounts; execute proofs of claim and loss; execute endorsements, assignments of other instruments of conveyance or transfer; adjust and compromise any claims under insurance policies or otherwise; execute releases; and do all other acts and things necessary or advisable in the sole discretion of the Agent Bank to carry out and enforce this Security Agreement or the Obligations. All acts done under the foregoing authorization are hereby ratified and approved and neither the Agent Bank nor any designee or agent thereof shall be liable for any acts of commission or omission, for any error of judgment or for any mistake of fact or law. This power ower of attorney being coupled with an interest is irrevocable while any Obligations shall remain unpaid.