Common use of Grant of Power of Attorney by Company Clause in Contracts

Grant of Power of Attorney by Company. The Company hereby irrevocably appoints the Transferor its lawful attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company, the Transferor or otherwise, and with full power of substitution in the premises (which power of attorney, being coupled with an interest, is irrevocable for so long as the Company is in existence), from time to time in the Transferor’s discretion, following a failure by the Company to satisfy promptly its obligations pursuant to Sections 3.1, 3.2, 4.10, 4.11 or 4.12 of this Agreement as they relate to the preparing, furnishing, executing and/or recording of any of the Transfer Documents or any other relevant matter set forth in any such provision, to prepare, furnish, execute and/or record all relevant Transfer Documents and other documents as might be reasonably necessary to satisfy the transfer and recording obligations of the Company pursuant to Sections 3.1, 3.2, 4.10, 4.11 and 4.12 of this Agreement. The Company will reimburse the Transferor on demand for all costs and expenses incurred by the Transferor in connection with any exercise of the power of attorney set forth in this Section 3.4.

Grant of Power of Attorney by Company. The Company hereby irrevocably appoints the Transferor its lawful attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company, the Transferor or otherwise, and with full power of substitution in the premises (which power of attorney, being coupled with an interest, is irrevocable for so long as the Company is in existence), from time to time in the Transferor’s discretion, following a failure by the Company to satisfy promptly its obligations pursuant to Sections 3.1, 3.2, 4.10, 4.11 or 4.12 of this Agreement as they relate to the preparing, furnishing, executing and/or recording of any of the Transfer Documents or any other relevant matter set forth in any such provision, to prepare, furnish, execute and/or record all relevant Transfer Documents and other documents as might be reasonably necessary to satisfy the transfer and recording obligations of the Company pursuant to Sections 3.1, 3.2, 4.10, 4.11 and 4.12 of this Agreement. The Company will reimburse the Transferor on demand for all costs and expenses incurred by the Transferor in connection with any exercise of the power of attorney set forth in this Section 3.4.and