Common use of Financing Statements, Direct Payments Clause in Contracts

Financing Statements, Direct Payments. Each Credit Party hereby authorizes the Administrative Agent to file UCC-1 financing statements (or foreign equivalent) and any amendments thereto or continuations thereof, any Copyright Security Agreement, any Copyright Security Agreement Supplement, any Trademark Security Agreement and any other appropriate security documents or instruments and to give any notices necessary or desirable as determined by the Administrative Agent to perfect the Lien of the Administrative Agent (for the benefit of the Secured Parties) in the Credit Party Collateral, in all cases without the signature of such Credit Party, or to execute such items as attorney-in-fact for such Credit Party; provided, that the Administrative Agent shall provide to the Borrower copies of any such documents or instruments executed by the Administrative Agent. Each Credit Party authorizes the Administrative Agent to use the description “all assets” or a similar description in any such UCC-1 financing statement. Each Credit Party further authorizes the Administrative Agent, at the time that any Event of Default shall have occurred and be continuing, to notify any account debtors that all sums payable to such Credit Party relating to the Credit Party Collateral shall be paid directly to the Administrative Agent.

Financing Statements, Direct Payments. Each Credit Party hereby authorizes the Administrative Agent to file UCC-1 financing statements (or foreign equivalent) and any amendments thereto or continuations thereof, any Copyright Security Agreement, any Copyright Security Agreement Supplement, any Trademark Security Agreement and any other appropriate security documents or instruments and to give any notices reasonably necessary or desirable as determined by the Administrative Agent to perfect the Lien of the Administrative Agent (for the benefit of the Secured Parties) Parties in the Credit Party Collateral, in all cases without the signature of such any Credit Party, Party or to execute such items as attorney-in-fact attorney‑in‑fact for such any Credit Party; provided, that the Administrative Agent shall provide to the Borrower copies of any such documents or instruments executed by to the Administrative AgentBorrower. Each Credit Party authorizes the Administrative Agent to use the description “all assets” or a similar description in any such UCC-1 financing statement. Each Credit Party further authorizes the Administrative Agent, at the time that any Event of Default shall have occurred and be continuing, to notify any account debtors debtor that all sums payable to such Credit Party relating to the Credit Party Collateral shall be paid directly to the Administrative Agent.

Financing Statements, Direct Payments. Each Credit Party hereby authorizes the Administrative Agent to file UCC-1 UCC financing statements (or foreign equivalent) and any amendments thereto or continuations thereof, any Copyright Security Agreement, any Copyright Security Agreement Supplement, any Trademark Security Agreement and any other appropriate security documents or instruments and to give any notices necessary or desirable as determined by the Administrative Agent to perfect the Lien of the Administrative Agent (for the benefit of the Secured Parties) in the Credit Party Collateral, in all cases without the signature of such any Credit Party, or to execute such items as attorney-in-fact for such any Credit Party; provided. In the event the Administrative Agent exercises such power of attorney, that the Administrative Agent shall provide to the Borrower copies of any such documents or instruments executed by the Administrative Agent. Each Credit Party authorizes the Administrative Agent to use the description “all assets” or a similar description in any such UCC-1 UCC financing statement. Each Credit Party further authorizes the Administrative Agent, at the time that any Event of Default shall have occurred and be continuing, to notify any account debtors debtor that all sums payable to such Credit Party relating to the Credit Party Collateral shall be paid directly to the Administrative Agent.