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Common use of Lender's Powers Clause in Contracts

Lender's Powers. Each Credit Party hereby authorizes Lender and any designee of Lender, at such Credit Party's sole expense, to exercise in Lender's or such designee's sole discretion any or all of the following powers, which powers are irrevocable until the Obligations have been paid in full and Lender's obligation to make Credit Accommodations has terminated: (a) to receive, take, endorse, assign, deliver, accept and deposit, at any time and in the name of Lender or such Credit Party, any and all cash, checks, commercial paper, drafts, remittances and other instruments and documents relating to the Collateral or the proceeds thereof; (b) to request from any person or entity, including any Account Debtor, obligated with respect to any Collateral, including accounts (an "Obligated Party"), or any bailee, at any time and in the name of such Credit Party, Lender or any designee of Lender (or by a pseudonym), verification of any amounts owing with respect to the Collateral or any other information concerning the Collateral; (c) at any time after the occurrence of an Event of Default, to notify any Obligated Party, by means of a letter substantially in the form of the letters attached hereto as Xxxxxxxx X- 0 through A-4, that the Collateral has been assigned to Lender by such Credit Party and that payment of accounts and other Collateral is to be made to the order of and directly and solely to Lender, or to notify any bailee as to the disposition of Collateral; (d) at any time after the occurrence of an Event of Default, to require that all invoices and statements sent by such Credit Party to any Obligated Party or any bailee state that the Collateral has been assigned to Lender and that any payments in respect thereof are to be made directly and solely to Lender; (e) at any time after the occurrence of an Event of Default, to take or bring, in the name of Lender or such Credit Party, all such actions, suits or proceedings as Lender may deem necessary or desirable to demand, collect, enforce payment of and otherwise realize upon the Collateral (but without any duty to do so, and Lender shall not be liable for any failure to collect or enforce payment thereof); (f) at any time after the occurrence of an Event of Default, to change the address for delivery of mail to such Credit Party, and to receive and open mail addressed to such Credit Party; (g) at any time after the occurrence of an Event of Default, upon any terms and conditions, to extend the time of payment of, compromise, or settle for cash, credit or return of merchandise, any and all accounts or other Collateral, and to discharge or release any Obligated Party without affecting any of the Obligations; (h) to execute in the name of such Credit Party and to file against such Credit Party in favor of Lender, at any time, financing statements or amendments thereto with respect to any or all of the Collateral; and (i) to execute in the name of such Credit Party, and to file on behalf of such Credit Party with such governmental authorities as are appropriate, at any time, such documents (including applications and certificates) as may be required for the purpose of having such Credit Party qualified to transact business in a particular state or geographic location.

Appears in 2 contracts

Samples: Loan and Security Agreement (American Tonerserv Corp.), Loan and Security Agreement (American Tonerserv Corp.)

Lender's Powers. Each Credit Party Borrower hereby authorizes Lender and any designee of Lender, at such Credit PartyBorrower's sole expense, to exercise in Lender's or such designee's sole discretion any or all of the following powers, which powers are irrevocable until the Obligations have been paid in full and Lender's obligation to make Credit Accommodations has terminated: (a) to receive, take, endorse, assign, deliver, accept and deposit, at any time and in the name of Lender or such Credit PartyBorrower, any and all cash, checks, commercial paper, drafts, remittances and other instruments and documents relating to the Collateral or the proceeds thereof; (b) to request from any person or entity, including any Account Debtor, obligated with respect to any Collateral, including accounts (an "Obligated Party"), or any bailee, at any time and in the name of such Credit PartyBorrower, Lender or any designee of Lender (or by a pseudonym), verification of any amounts owing with respect to the Collateral or any other information concerning the Collateral; (c) at any time after the occurrence of an Event of Default, to notify any Obligated Party, by means of a letter substantially in the form of the letters attached hereto as Xxxxxxxx X- 0 through A-4Exhibit A, that the Collateral has been assigned to Lender by such Credit Party Borrower and that payment of accounts and other Collateral is to be made to the order of and directly and solely to Lender, or to notify any bailee as to the disposition of Collateral; (d) at any time after the occurrence of an Event of Default, to require that all invoices and statements sent by such Credit Party Borrower to any Obligated Party or any bailee state that the Collateral has been assigned to Lender and that any payments in respect thereof are to be made directly and solely to Lender; (e) at any time after the occurrence of an Event of Default, to take or bring, in the name of Lender or such Credit PartyBorrower, all such actions, suits or proceedings as Lender may deem necessary or desirable to demand, collect, enforce payment of and otherwise realize upon the Collateral (but without any duty to do so, and Lender shall not be liable for any failure to collect or enforce payment thereof); (f) at any time after the occurrence of an Event of Default, to change the address for delivery of mail to such Credit PartyBorrower, and to receive and open mail addressed to such Credit PartyBorrower; (g) at any time after the occurrence of an Event of Default, upon any terms and conditions, to extend the time of payment of, compromise, or settle for cash, credit or return of merchandise, any and all accounts or other Collateral, and to discharge or release any Obligated Party without affecting any of the Obligations; (h) to execute in the name of such Credit Party Borrower and to file against such Credit Party Borrower in favor of Lender, at any time, financing statements or amendments thereto with respect to any or all of the Collateral; and (i) to execute in the name of such Credit PartyBorrower, and to file on behalf of such Credit Party Borrower with such governmental authorities as are appropriate, at any time, such documents (including applications and certificates) as may be required for the purpose of having such Credit Party Borrower qualified to transact business in a particular state or geographic location.

Appears in 2 contracts

Samples: Loan and Security Agreement (Deja Foods Inc), Loan and Security Agreement (Deja Foods Inc)

Lender's Powers. Each Credit Party Borrower hereby authorizes Lender and any designee of Lender, at such Credit PartyBorrower's sole expense, to exercise at any times in Lender's or such designee's sole discretion all or any or all of the following powers, which powers are irrevocable until all of the Obligations have been paid in full and Lender's obligation to make Credit Accommodations has terminated: (a) to full: 5.3.1 receive, take, endorse, assign, deliver, accept and deposit, at any time and in the name of Lender or such Credit PartyBorrower, any and all cash, checks, commercial paper, drafts, remittances and other instruments and documents relating to the Collateral or the proceeds thereof; (b) ; 5.3.2 transmit to any Obligated Party or any bailee notice of the interest of Lender in the Collateral or request from any person or such entity, including any Account Debtor, obligated with respect to any Collateral, including accounts (an "Obligated Party"), or any bailee, at any time and time, in the name of such Credit Party, Borrower or Lender or any designee of Lender (or by a pseudonym)Lender, verification of information concerning the Monetary Collateral and any amounts owing with respect to the Collateral or any other information concerning the Collateral; (c) at any time after the occurrence of an Event of Default, to thereto; 5.3.3 notify any Obligated Party, by means of a letter substantially in the form of the letters attached hereto as Xxxxxxxx X- 0 through A-4, that the Collateral has been assigned Party to Lender by such Credit Party and that make payment of accounts and other Collateral is to be made to the order of and directly and solely to Lender, or to notify any bailee bailees as to the disposition of Collateral; (d) at any time after the occurrence of an Event of Default, to require that all invoices and statements sent by such Credit Party to any Obligated Party or any bailee state that the Collateral has been assigned to Lender and that any payments in respect thereof are to be made directly and solely to Lender; (e) at any time after the occurrence of an Event of Default, to , 5.3.4 take or bring, in the name of Lender or such Credit PartyBorrower, all such steps, actions, suits or proceedings as deemed by Lender may deem necessary or desirable to demand, collect, enforce payment effect collection of and otherwise realize or other realization upon the Collateral (but without any duty to do so, and Lender shall not be liable for any failure to collect or enforce payment thereof); (f) at any time Collateral; 5.3.5 after the occurrence of an Event of Default, to change the address for delivery of mail to such Credit Party, Borrower and to receive and open mail addressed to such Credit Party; (g) at any time Borrower; 5.3.6 after the occurrence of an Event of Default, upon any terms and conditions, to extend the time of payment of, compromise, or settle for cash, credit or credit, return of merchandise, any and all accounts or other Collateral, Monetary Collateral and to discharge or release any Obligated Party without affecting any of the Obligations; (h) to ; 5.3.7 execute in the name of such Credit Party Borrower and to file against such Credit Party Borrower in favor of Lender, at any time, Lender financing statements or amendments thereto with respect to any or all of the Collateral; and (i) to and 5.3.8 execute in the name of such Credit Party, Borrower and to file on behalf of such Credit Party Borrower with such governmental authorities as are appropriate, at any time, appropriate such documents (including applications including, without limitation, applications, certificates, and certificatestax returns) as may be required for the purpose purposes of having such Credit Party Borrower qualified to transact business in a particular state or geographic location.

Appears in 1 contract

Samples: Loan and Security Agreement (Telenetics Corp)

Lender's Powers. Each Credit Party Borrower hereby authorizes Lender and any designee of Lender, at such Credit PartyBorrower's sole expense, to exercise at any time in Lender's or such designee's sole discretion discretion, all or any or all of the following powers, which powers are irrevocable until all of the Obligations have been paid in full and Lender's obligation to make Credit Accommodations has terminated: (a) to full: 5.4.1 receive, take, endorse, negotiate, assign, deliver, accept and deposit, at any time and in the name of Lender or such Credit PartyBorrower, any and all cash, checks, commercial paper, letters of credit, drafts, remittances and other instruments and documents relating to the Collateral or the proceeds thereof; (b) ; 5.4.2 to request from accept, indorse and deposit on behalf of Borrower any person or entitychecks tendered by an Account Debtor "in full payment" of its obligation to Borrower. Borrower shall not assert against Lender any claim arising therefrom, including any Account Debtorirrespective of whether such action by Lender effects an accord and satisfaction of Borrower's claims, obligated with respect to any Collateral, including accounts (an "Obligated Party")under Section 3-311 of the Uniform Commercial Code, or any bailee, at any time and in the name of such Credit Party, Lender or any designee of Lender (or by a pseudonym), verification of any amounts owing with respect to the Collateral or any other information concerning the Collateral; (c) at any time after the occurrence of an Event of Default, to notify any Obligated Party, by means of a letter substantially in the form of the letters attached hereto as Xxxxxxxx X- 0 through A-4, that the Collateral has been assigned to Lender by such Credit Party and that payment of accounts and other Collateral is to be made to the order of and directly and solely to Lender, or to notify any bailee as to the disposition of Collateral; (d) at any time after the occurrence of an Event of Default, to require that all invoices and statements sent by such Credit Party to any Obligated Party or any bailee state that the Collateral has been assigned to Lender and that any payments in respect thereof are to be made directly and solely to Lender; (e) at any time after the occurrence of an Event of Default, to otherwise; 5.4.3 take or bring, in the name of Lender or such Credit PartyBorrower, all such steps, actions, suits or proceedings as deemed by Lender may deem necessary or desirable to demand, collect, enforce payment effect collection of and otherwise realize or other realization upon the Collateral (but without any duty to do so, and Lender shall not be liable for any failure to collect or enforce payment thereof); (f) at any time Collateral; 5.4.4 after the occurrence of an Event of Default, to change the address for delivery of mail to such Credit Party, Borrower and to receive and open mail addressed to such Credit Party; (g) at any time Borrower; 5.4.5 after the occurrence of an Event of Default, upon any terms and conditions, to extend the time of payment of, compromise, or settle for cash, credit or credit, return of merchandise, any and all accounts or other Collateral, Monetary Collateral and to discharge or release any Obligated Party without affecting any of the Obligations; (h) to ; 5.4.6 execute in the name of such Credit Party Borrower and to file against such Credit Party Borrower in favor of Lender, at any time, Lender financing statements or amendments thereto with respect to any or all of the Collateral; and (i) to execute in the name of such Credit Party, Borrower and to file on behalf of such Credit Party Borrower with such governmental authorities as are appropriate, at any time, appropriate such documents (including applications including, without limitation, applications, certificates, and certificatestax returns) as may be required for the purpose purposes of having such Credit Party Borrower qualified to transact business in a particular state or geographic location.; and

Appears in 1 contract

Samples: Loan and Security Agreement (Scolr Inc)

Lender's Powers. Each Credit Party Borrower hereby authorizes Lender and any designee of Lender, at such Credit PartyBorrower's sole expense, to exercise at any time in Lender's or such designee's sole discretion all or any or all of the following powers, which powers are irrevocable until all of the Obligations have been paid in full and Lender's obligation to make Credit Accommodations has terminatedfull: (a) to receive, take, endorse, assign, deliver, accept and deposit, at any time and in the name of Lender or such Credit PartyBorrower, any and all cash, checks, commercial paper, drafts, remittances and other instruments and documents relating to the Collateral or the proceeds thereof; , (b) transmit to any Obligated Party or any bailee notice of the interest of Lender in the Collateral or request from any person or such entity, including any Account Debtor, obligated with respect to any Collateral, including accounts (an "Obligated Party"), or any bailee, at any time and time, in the name of such Credit Party, Borrower or Lender or any designee of Lender (or by a pseudonym)Lender, verification of information concerning the Monetary Collateral and any amounts owing with respect to the Collateral or any other information concerning the Collateral; thereto, (c) at any time after the occurrence of an Event of Default, to notify any Obligated Party, by means of a letter substantially in the form of the letters attached hereto as Xxxxxxxx X- 0 through A-4, that the Collateral has been assigned Party to Lender by such Credit Party and that make payment of accounts and other Collateral is to be made to the order of and directly and solely to Lender, or to notify any bailee bailees as to the disposition of Collateral; , (d) at any time after the occurrence of an Event of Default, to require that all invoices and statements sent by such Credit Party to any Obligated Party or any bailee state that the Collateral has been assigned to Lender and that any payments in respect thereof are to be made directly and solely to Lender; (e) at any time after the occurrence of an Event of Default, to take or bring, in the name of Lender or such Credit PartyBorrower, all such steps, actions, suits or proceedings as deemed by Lender may deem necessary or desirable to demandeffect collection of or other realization upon any Collateral, collect, enforce payment of and otherwise realize upon the Collateral (but without any duty to do so, and Lender shall not be liable for any failure to collect or enforce payment thereof); (fe) at any time after the occurrence of an Event of Default, to change the address for delivery of mail to such Credit Party, Borrower and to receive and open mail addressed to such Credit Party; Borrower, (gf) at any time after the occurrence of an Event of Default, upon any terms and conditions, to extend the time of payment of, compromise, or settle for cash, credit or credit, return of merchandise, any and all accounts or other Collateral, Monetary Collateral and to discharge or release any Obligated Party without affecting any of the Obligations; , (hg) to execute in the name of such Credit Party Borrower and to file against such Credit Party Borrower in favor of Lender, at any time, Lender financing statements or amendments thereto with respect to any or all of the Collateral; , and (ih) to execute in the name of such Credit Party, Borrower and to file on behalf of such Credit Party Borrower with such governmental authorities as are appropriate, at any time, appropriate such documents (including including, without limitation, applications and certificates) as may be required for the purpose purposes of having such Credit Party Borrower qualified to transact business in a particular state or geographic georaphic location.

Appears in 1 contract

Samples: Loan and Security Agreement (Photomatrix Inc/ Ca)

Lender's Powers. Each Credit Party hereby authorizes It is agreed that if Lender and any designee of Lender, at such Credit Party's sole expense, elects to exercise the statutory power of sale herein granted to Lender by Borrower, Lender may (subject only to the provisions of RSA 479 or any successor statute of similar import then in effect which governs the foreclosure of New Hampshire mortgages): (a) Hold any foreclosure sale of the Real Property and the Collateral securing the payment and performance of all, or any portion of the indebtedness secured hereby at a public auction or auctions held on, near or in the vicinity of any of the Real Property. (b) Apply the proceeds of any foreclosure sale of all, or any portion of the Real Property and the Collateral to the payment of (i) all costs and expenses thereof, including, but not limited to, attorney's, appraiser's and auctioneer's fees and advertising costs, (ii) the indebtedness of Borrower to Lender secured by this Mortgage including, without limitation, the indebtedness evidenced by, or arising under the Note, in such order of preference and priority as Lender deems appropriate, (iii) any other financial liabilities of Borrower subject only to the senior and superior rights of third persons, if any and (iv) pay over any remaining balance of such proceeds to Borrower or for Lender's account. (c) Offer for sale and sell all, or any combination of the Real Property and Collateral pursuant to New Hampshire RSA 479, as the same may be amended from time to time, as an entirety for one bid or in such designeelots or item by item for combined bids or separate bids, as appropriate, or any combination of the foregoing which Lender deems to be appropriate and the proceeds of any such entirety or lot sales may be accounted for in one account without making any distinction between the items of security and without assigning to them any proportion of the proceeds thereof, and Borrower hereby waives the application of the equitable doctrine of marshalling or any rule of law or other equitable doctrine of similar import and relinquishes and releases all of Borrower's sole discretion any rights thereunder and the benefits conferred upon Borrower thereby whether now existing or arising hereafter. In the event that Lender elects to exercise the statutory power of sale hereinbefore granted to Lender by selling the Real Property, Fixtures and Collateral in parcels, parts or lots, such foreclosure sale or sales may be held from time to time, and this Mortgage shall remain in full force and effect and such statutory power of sale shall not be fully executed until all of the following powersReal Property, which powers are irrevocable until the Obligations Fixtures and Collateral shall have been paid in full and Lender's obligation to make Credit Accommodations has terminated: (a) to receive, take, endorse, assign, deliver, accept and deposit, at any time and in the name of Lender or such Credit Party, any and all cash, checks, commercial paper, drafts, remittances and other instruments and documents relating to the Collateral or the proceeds thereof; (b) to request from any person or entity, including any Account Debtor, obligated with respect to any Collateral, including accounts (an "Obligated Party"), or any bailee, at any time and in the name of such Credit Party, Lender or any designee of Lender (or by a pseudonym), verification of any amounts owing with respect to the Collateral or any other information concerning the Collateral; (c) at any time after the occurrence of an Event of Default, to notify any Obligated Party, by means of a letter substantially in the form of the letters attached hereto as Xxxxxxxx X- 0 through A-4, that the Collateral has been assigned to Lender by such Credit Party and that payment of accounts and other Collateral is to be made to the order of and directly and solely to Lender, or to notify any bailee as to the disposition of Collateral; (d) at any time after the occurrence of an Event of Default, to require that all invoices and statements sent by such Credit Party to any Obligated Party or any bailee state that the Collateral has been assigned to Lender and that any payments in respect thereof are to be made directly and solely to Lender; (e) at any time after the occurrence of an Event of Default, to take or bring, in the name of Lender or such Credit Party, all such actions, suits or proceedings as Lender may deem necessary or desirable to demand, collect, enforce payment of and otherwise realize upon the Collateral (but without any duty to do so, and Lender shall not be liable for any failure to collect or enforce payment thereof); (f) at any time after the occurrence of an Event of Default, to change the address for delivery of mail to such Credit Party, and to receive and open mail addressed to such Credit Party; (g) at any time after the occurrence of an Event of Default, upon any terms and conditions, to extend the time of payment of, compromise, or settle for cash, credit or return of merchandise, any and all accounts or other Collateral, and to discharge or release any Obligated Party without affecting any of the Obligations; (h) to execute in the name of such Credit Party and to file against such Credit Party in favor of Lender, at any time, financing statements or amendments thereto with respect to any or all of the Collateral; and (i) to execute in the name of such Credit Party, and to file on behalf of such Credit Party with such governmental authorities as are appropriate, at any time, such documents (including applications and certificates) as may be required for the purpose of having such Credit Party qualified to transact business in a particular state or geographic locationsold pursuant thereto.

Appears in 1 contract

Samples: Deed of Trust (Water Pik Technologies Inc)