Common use of Irrevocable Authorization and Instruction to Issuer Clause in Contracts

Irrevocable Authorization and Instruction to Issuer. The Pledgor hereby authorizes and instructs the Issuer to comply with any instruction received by it from the Lender in writing that (a) states that an Event of Default has occurred and is continuing and (b) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from the Pledgor, and the Pledgor agrees that the Issuer shall be fully protected in so complying. Furthermore, to the extent any portion of the Collateral may now or hereafter consist of uncertificated securities within the meaning of Title XXXIX, Section 678.1021(1)(r) of the 2010 Florida Statutes, the Pledgor irrevocably authorizes and instructs the Issuer to comply with any instruction received by it from the Lender with respect to such Collateral without any other or further instructions from or consent of the Pledgor, and the Pledgor agrees that the Issuer shall be fully protected in so complying; provided, however, that the Lender agrees that it will not issue or deliver any instructions to the Issuer except after the occurrence and during the continuation of an Event of Default.

Irrevocable Authorization and Instruction to Issuer. The Pledgor hereby authorizes and instructs the Issuer to comply with any instruction received by it from the Lender Secured Party in writing that (a) states that an Event of Default has occurred and is continuing and (b) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from the Pledgor, and the Pledgor agrees that the Issuer shall be fully protected in so complying. Furthermore, to the extent any portion of the Collateral may now or hereafter consist of uncertificated securities within the meaning of Title XXXIX, Section 678.1021(1)(r) of the 2010 Florida StatutesCode, as in effect in the State of Florida, the Pledgor irrevocably authorizes and instructs the Issuer to comply with any instruction received by it from the Lender Secured Party with respect to such Collateral without any other or further instructions from or consent of the Pledgor, and the Pledgor agrees that the Issuer shall be fully protected in so complying; provided, however, that the Lender Secured Party agrees that it will not issue or deliver any instructions to the Issuer except after the occurrence and during the continuation of an Event of Default.