Common use of Lender Appointed Attorney-in-Fact Clause in Contracts

Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon repayment of the Indebtedness in full.

Appears in 14 contracts

Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Affordable Residential Communities Inc)

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Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon repayment of the Indebtedness and all Crossed Indebtedness in full.

Appears in 5 contracts

Samples: Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc)

Lender Appointed Attorney-in-Fact. Borrower Borrowers hereby irrevocably constitutes constitute and appoints appoint Lender as Borrower’s Borrowers’ true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower Borrowers with respect to the Account Collateral, and do in the name, place and stead of BorrowerBorrowers, all such acts, things and deeds for and on behalf of and in the name of Borrower Borrowers with respect to the Account Collateral, which Borrower that Borrowers could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon indefeasible repayment of the Indebtedness Secured Obligations in full.

Appears in 3 contracts

Samples: Loan Agreement (GTJ REIT, Inc.), Loan Agreement (GTJ REIT, Inc.), Loan Agreement (GTJ REIT, Inc.)

Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon repayment of the Indebtedness and (subject to Section 2.11(g)) Crossed Indebtedness in full.

Appears in 3 contracts

Samples: Loan Agreement (Digital Realty Trust, Inc.), Loan Agreement (Digital Realty Trust, Inc.), Loan Agreement (Digital Realty Trust, Inc.)

Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s 's true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, Default to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon repayment of the Indebtedness in fullinterest.

Appears in 2 contracts

Samples: Loan Agreement (Burnham Pacific Properties Inc), Loan Agreement (Burnham Pacific Properties Inc)

Lender Appointed Attorney-in-Fact. Borrower Borrowers hereby irrevocably constitutes constitute and appoints appoint Lender as Borrower’s Borrowers’ true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower Borrowers with respect to the Account Collateral, and do in the name, place and stead of BorrowerBorrowers, all such acts, things and deeds for and on behalf of and in the name of Borrower Borrowers with respect to the Account Collateral, which Borrower that Borrowers could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon indefeasible repayment of the Indebtedness Secured Obligations, the Second Mortgage Secured Obligations, the Third Mortgage Secured Obligations and the Pledge and Security Agreement Obligations in full.

Appears in 1 contract

Samples: Loan Agreement (GTJ REIT, Inc.)

Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s 's true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon (i) repayment of the Indebtedness in full, or (ii) the occurrence of either a Total Defeasance or, with respect to the related portion of the Account Collateral in the event of a KC Release, a Partial Defeasance.

Appears in 1 contract

Samples: Loan Agreement (Great Wolf Resorts, Inc.)

Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon upon: (i) repayment of the Indebtedness in full; or (ii) the occurrence of either a Total Defeasance or, with respect to the related portion of the Account Collateral in the event of a Sandusky Release, a Partial Defeasance.

Appears in 1 contract

Samples: Loan Agreement (Great Wolf Resorts, Inc.)

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Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation continuance of an Event of Default, Default to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon repayment of the Indebtedness in fullinterest.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation of an Event of Default, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon upon: (i) repayment of the Indebtedness in full; or (ii) the occurrence of a Defeasance.

Appears in 1 contract

Samples: Loan Agreement (Great Wolf Resorts, Inc.)

Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s 's true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation continuance of an Event of Default, Default to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon repayment of the Indebtedness in fullinterest.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably constitutes and appoints Lender as Borrower’s 's true and lawful attorney-in-fact, with full power of substitution, at any time after the occurrence and during the continuation continuance of an Event of Default, Default and the continuation thereof to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of Borrower with respect to the Account Collateral, and do in the name, place and stead of Borrower, all such acts, things and deeds for and on behalf of and in the name of Borrower with respect to the Account Collateral, which Borrower could or might do or which Lender may deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein with respect to the Account Collateral and to accomplish the purposes of this Agreement. The foregoing powers of attorney are irrevocable and coupled with an interest interest. Notwithstanding the foregoing, Lender shall not be entitled to exercise the foregoing power of attorney until the occurrence of an Event of Default and shall terminate upon repayment of the Indebtedness in fullcontinuation thereof.

Appears in 1 contract

Samples: Loan Agreement (Hallwood Realty Partners L P)

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