Common use of Further Approvals Required Clause in Contracts

Further Approvals Required. In connection with the exercise by Administrative Lender of its rights hereunder that effects the disposition of or use of any Collateral, it may be necessary to obtain the prior consent or approval of Tribunals and other Persons to a transfer or assignment of Collateral, including, without limitation, the FCC and any applicable PUC. In connection with the exercise by the Administrative Lender or any other Secured Party of its rights hereunder relating to the disposition of or operation under any license issued by the FCC or any applicable PUC, or any other authorizations, agreements, permits, licenses and franchises constituting property of the Debtor, it may be necessary to obtain the prior consent or approval of the FCC or any applicable PUC, other governmental authority or other Persons to the exercise of rights with respect to the Collateral. The Debtor hereby agrees to execute, deliver and file, and hereby appoints (to the extent permitted under applicable law) the Administrative Lender as its attorney upon the occurrence and during the continuation of an Event of Default, to execute, deliver and file on the Debtor's behalf and in the Debtor's name, all applications, certificates, filings, instruments and other documents (including without limitation any application for an assignment or transfer of control or ownership) that may be necessary or appropriate, in the Administrative Lender's opinion, to obtain such consents or approvals. The Debtor further agrees to use its best efforts to obtain such consents or approvals upon and after the occurrence of a Default or Event of Default that is continuing. The Debtor acknowledges that there is no adequate remedy at law for failure by it to comply with the provisions of this Section and that such failure would not be adequately compensable in damages, and therefore agrees that this Section may be specifically enforced.

Appears in 3 contracts

Samples: Security Agreement (Itc Deltacom Inc), Security Agreement (Itc Deltacom Inc), Security Agreement (Itc Deltacom Inc)

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Further Approvals Required. In connection with the exercise by Administrative Lender Agent of its rights hereunder that effects affects the disposition of or use of any Collateral, it may be necessary to obtain the prior consent or approval of Tribunals and other Persons to a transfer or assignment of Collateral, including, without limitation, the FCC and any applicable PUC. In connection with the exercise by the Administrative Lender Agent or any other Secured Party of its rights hereunder relating to the disposition of or operation under any license issued by the FCC or any applicable PUC, or any other authorizations, agreements, permits, licenses and franchises constituting property of the Debtor, it may be necessary to obtain the prior consent or approval of the FCC or any applicable PUC, other governmental authority or other Persons to the exercise of rights with respect to the Collateral. The Debtor hereby agrees to execute, deliver and file, and hereby appoints (to the extent permitted under applicable law) the Administrative Lender Agent as its attorney upon the occurrence and during the continuation of an Event of Default, to execute, deliver and file on the Debtor's behalf and in the Debtor's name, all applications, certificates, filings, instruments and other documents (including without limitation including, but not limited to, any application for an assignment or transfer of control or ownership) that may be necessary or appropriate, in the Administrative LenderAgent's opinion, to obtain such consents or approvals. The Debtor further agrees to use its best efforts to obtain such consents or approvals upon and after the occurrence of a Default or Event of Default that is continuing. The Debtor acknowledges that there is no adequate remedy at law for failure by it to comply with the provisions of this Section and that such failure would not be adequately compensable in damages, and therefore agrees that this Section 4.05 may be specifically enforced.

Appears in 1 contract

Samples: Security Agreement (World Access Inc /New/)

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Further Approvals Required. In connection with the exercise by Administrative Lender Agent of its rights hereunder that effects affects the disposition of or use of any Pledged Collateral, it may be necessary to obtain the prior consent or approval of Tribunals tribunals and other Persons to a transfer or assignment of Pledged Collateral, including, without limitation, the FCC and any applicable public utility commission or similar commission ("PUC"). In connection with the exercise by the Administrative Lender or any other Secured Party Agent of its rights hereunder relating to the disposition of or operation under any license issued by the FCC or any applicable PUC, PUC or any other authorizations, agreements, permits, licenses licenses, and franchises constituting property of the Debtor, it may be necessary to obtain the prior consent or approval of the FCC or any applicable PUC, other governmental authority authority, or other Persons to the exercise of rights with respect to the Pledged Collateral. The Debtor hereby agrees to execute, deliver deliver, and file, and hereby appoints (to the extent permitted under applicable law) the Administrative Lender Agent as its attorney upon the occurrence and during the continuation of an Event of Default, Default to execute, deliver deliver, and file on the Debtor's behalf and in the Debtor's name, all applications, certificates, filings, instruments instruments, and other documents (including without limitation including, but not limited to, any application for an assignment or transfer of control or ownership) that may be necessary or appropriate, in the Administrative LenderAgent's opinion, to obtain such consents or approvals. The Debtor further agrees to use its best efforts to obtain such consents or approvals upon and after the occurrence of a Default or Event of Default that is continuing. The Debtor acknowledges that there is no adequate remedy at law for failure by it Debtor to comply with the provisions of this Section section and that such failure would not be adequately compensable in damages, damages and therefore agrees that this Section 5.5 may be specifically enforced.

Appears in 1 contract

Samples: Security Agreement (Star Telecommunications Inc)

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