Common use of LENDER APPOINTED ATTORNEY-IN Clause in Contracts

LENDER APPOINTED ATTORNEY-IN. FACT. The Borrowers hereby irrevocably constitute and appoint Lender as the Borrowers' true and lawful attorney-in-fact, coupled with an interest and with full power of substitution, to exercise and enforce every right, power, remedy, option and privilege of the Borrowers with respect to the Collateral, and do in the name, place and stead of the Borrowers, all such acts, things and deeds for and on behalf of and in the name of the Borrowers, which the Borrowers are required to do hereunder or under the other Loan Documents or which Agent or Lender may reasonably deem necessary to more fully vest in Lender the rights and remedies provided for herein and to accomplish the purposes of this Agreement including, without limitation, the filing of any UCC financing statements or continuation statements in appropriate public filing offices on behalf of the Borrowers, in any of the foregoing cases, upon the Borrowers' failure to take any of the foregoing actions within ten (10) days after notice from Lender. The foregoing powers of attorney are irrevocable and coupled with an interest. If any Borrower fails to perform any agreement herein contained and such failure shall continue for ten (10) days after notice of such failure is given to such Borrower, Lender may perform or cause performance of any such agreement, and any reasonable expenses of Lender and Agent in connection therewith shall be paid by the Borrowers.

Appears in 2 contracts

Samples: Cash Management Agreement (Lodgian Inc), Cash Management Agreement (Lodgian Inc)

AutoNDA by SimpleDocs

LENDER APPOINTED ATTORNEY-IN. FACT. The Borrowers hereby irrevocably constitute and appoint Lender as the Borrowers' true and lawful attorney-in-fact, coupled with an interest and with full power of substitution, to exercise and enforce every right, power, remedy, option and privilege of the Borrowers with respect to the Collateral, and do in the name, place and stead of the Borrowers, all such acts, things and deeds for and on behalf of and in the name of the Borrowers, which the Borrowers are required to do hereunder or under the other Loan Documents or which Agent or Lender may reasonably deem necessary to more fully vest in Lender the rights and remedies provided for herein and to accomplish the purposes of this Agreement including, without limitation, the filing of any UCC financing statements or Cash Management Agreement (FX3) continuation statements in appropriate public filing offices on behalf of the Borrowers, in any of the foregoing cases, upon the Borrowers' failure to take any of the foregoing actions within ten (10) days after notice from Lender. The foregoing powers of attorney are irrevocable and coupled with an interest. If any Borrower fails to perform any agreement herein contained and such failure shall continue for ten (10) days after notice of such failure is given to such Borrower, Lender may perform or cause performance of any such agreement, and any reasonable expenses of Lender and Agent in connection therewith shall be paid by the Borrowers.

Appears in 1 contract

Samples: Cash Management Agreement (Lodgian Inc)

LENDER APPOINTED ATTORNEY-IN. FACT. The Borrowers hereby irrevocably constitute and appoint Lender as the Borrowers' true and lawful attorney-in-fact, coupled with an interest and with full power of substitution, to execute, acknowledge and deliver during the continuation of an Event of Default any instruments and to exercise and enforce every right, power, remedy, option and privilege of the Borrowers with respect to the Account Collateral, and do in the name, place and stead of the Borrowers, all such acts, things and deeds for and on behalf of and in the name of the Borrowers, which the Borrowers are required to do hereunder or under the other Loan Documents or which Agent or Lender may reasonably deem necessary or desirable to more fully vest in Lender the rights and remedies provided for herein and to accomplish the purposes of this Loan Agreement including, without limitation, the filing of any UCC financing statements or continuation statements in appropriate public filing offices on behalf of the Borrowers, in any of the foregoing cases, upon the Borrowers' failure to take any of the foregoing actions within ten five (105) days Business Days after notice from Lender. The foregoing powers of attorney are irrevocable and coupled with an interest. If any Borrower fails to perform any agreement herein contained and such failure shall continue for ten five (105) days Business Days after notice of such failure is given to such Borrower, Lender may perform or cause performance of any such agreement, and any reasonable expenses of Lender Lender, Local Collection Account Bank and Agent Central Account Bank in connection therewith shall be paid by the Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Education Realty Trust, Inc.)

LENDER APPOINTED ATTORNEY-IN. FACT. The Borrowers hereby irrevocably constitute and appoint Lender as the Borrowers' true and lawful attorney-in-fact, coupled with an interest and with full power of substitution, to exercise and enforce every right, power, remedy, option and privilege of the Borrowers with respect to the Collateral, and do in the name, place and stead of the Borrowers, all such acts, things and deeds for and on behalf of and in the name of the Borrowers, which the Borrowers are required to do hereunder or under the other Loan Documents or which Agent or Lender may reasonably deem necessary to more fully vest in Lender the rights and remedies provided for herein and to accomplish the purposes of this Agreement including, without limitation, the filing of any UCC financing statements or Cash Management Agreement (FX2) continuation statements in appropriate public filing offices on behalf of the Borrowers, in any of the foregoing cases, upon the Borrowers' failure to take any of the foregoing actions within ten (10) days after notice from Lender. The foregoing powers of attorney are irrevocable and coupled with an interest. If any Borrower fails to perform any agreement herein contained and such failure shall continue for ten (10) days after notice of such failure is given to such Borrower, Lender may perform or cause performance of any such agreement, and any reasonable expenses of Lender and Agent in connection therewith shall be paid by the Borrowers.

Appears in 1 contract

Samples: Cash Management Agreement (Lodgian Inc)

AutoNDA by SimpleDocs

LENDER APPOINTED ATTORNEY-IN. FACT. The Borrowers hereby irrevocably constitute and appoint Lender as the Borrowers' true and lawful attorney-in-fact, coupled with an interest and with full power of substitution, to exercise and enforce every right, power, remedy, option and privilege of the Borrowers with respect to the Collateral, and do in the name, place and stead of the Borrowers, all such acts, things and deeds for and on behalf of and in the name of the Borrowers, which the Borrowers are required to do hereunder or under the other Loan Documents or which Agent or Lender may reasonably deem necessary to more fully vest in Lender the rights and remedies provided for herein and to accomplish the purposes of this Agreement including, without limitation, the filing of any UCC financing statements or continuation statements in appropriate public filing offices on behalf of the Borrowers, in any of the foregoing cases, upon the Borrowers' failure to take any of the foregoing actions within ten (10) days after notice from Lender. The foregoing powers of attorney are irrevocable and coupled with an interest. If any Borrower fails to perform any agreement herein contained and such failure shall continue for ten (10) days after notice of such failure is given to such Borrower, Lender may perform or cause performance of any such agreement, and any reasonable expenses of Lender and Agent in connection therewith shall be paid by the Borrowers.. Cash Management Agreement (FX1)

Appears in 1 contract

Samples: Cash Management Agreement (Lodgian Inc)

LENDER APPOINTED ATTORNEY-IN. FACT. The Borrowers hereby irrevocably constitute and appoint Lender as the Borrowers' true and lawful attorney-in-fact, coupled with an interest and with full power of substitution, to exercise and enforce every right, power, remedy, option and privilege of the Borrowers with respect to the Collateral, and do in the name, place and stead of the Borrowers, all such acts, things and deeds for and on behalf of and in the name of the Borrowers, which the Borrowers are required to do hereunder or under the other Loan Documents or which Agent or Lender may reasonably deem necessary to more fully vest in Lender the rights and remedies provided for herein and to accomplish the purposes of this Agreement including, without limitation, the filing of any UCC financing statements or continuation statements in appropriate public filing offices on behalf of the Borrowers, in any of the foregoing cases, upon the Borrowers' failure to take any of the foregoing actions within ten (10) days after notice from Lender. The foregoing powers of attorney are irrevocable and coupled with an interest. If any Borrower fails to perform any agreement herein contained and such failure shall continue for ten (10) days after notice of such failure is given to such Borrower, Lender may perform or cause performance of any such agreement, and any reasonable expenses of Lender and Agent in connection therewith shall be paid by the Borrowers.. Cash Management Agreement (FX4)

Appears in 1 contract

Samples: Cash Management Agreement (Lodgian Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!