Common use of Lessor as Attorney-in-Fact Clause in Contracts

Lessor as Attorney-in-Fact. To more fully preserve and protect Lessor's rights under this Section, Lessee does hereby make, constitute and appoint Lessor its true and lawful attorney-in-fact, for it and in its name, place and stead to execute and deliver all such instruments and documents, and to do all such other acts and things, as Lessor may deem to be necessary or desirable to protect and preserve the rights granted under this Section. Lessee hereby grants to Lessor the full power and authority to appoint one or more substitutes to perform any of the acts that Lessor is authorized to perform under this Section, with a right to revoke such appointment of substitution at Lessor's pleasure. The power of attorney granted pursuant to this Section is coupled with an interest and therefore is irrevocable. Any person dealing with Lessor may rely upon the representation of Lessor relating to any authority granted by this power of attorney, including the intended scope of the authority, and may accept the written certificate of Lessor that this power of attorney is in full force and effect. Photographic or other facsimile reproductions of this executed Lease may be made and delivered by Lessor, and may be relied upon by any person to the same extent as though the copy were an original. Anyone who acts in reliance upon any representation or certificate of Lessor, or upon a reproduction of this Lease, shall not be liable for permitting Lessor to perform any act pursuant to this power of attorney. Notwithstanding the foregoing, Lessor covenants with Lessee that Lessor shall refrain from exercising the power of attorney granted hereby except in the case of an Event of Default hereunder or in the event of a default, which, in Lessor's reasonable judgment, may lead to the suspension or revocation of any license of Lessee or of any sublessee.

Appears in 4 contracts

Samples: Master Lease (Williams Companies Inc), Master Lease (Williams Communications Group Inc), Credit Agreement (Williams Companies Inc)

AutoNDA by SimpleDocs

Lessor as Attorney-in-Fact. To more fully preserve and protect Lessor's rights under this Section, Lessee The Pledgor does hereby -------------------------- make, constitute and appoint Lessor its true Lessor, and lawful any collateral agent or officer of Lessor, with full power of substitution, as Pledgor's attorney-in-fact, for it with full power and authority, in its own name or in the name, place and stead of Pledgor, or otherwise if an Event of Default of Pledgor or Lessee under any of the Obligations Documents shall have occurred and be continuing, (i) to exercise all voting, consent, managerial and other rights related to the Pledged Collateral, including, without limitation, any right to manage the operations and the business and affairs of Lessee, (ii) to execute and deliver all such deliver, at any time and from time to time, any instrument or instruments providing for the approval of the identity of any person or entity who becomes a substituted or additional shareholder pursuant to the exercise by Lessor of its rights and documentsremedies hereunder or under the Participation Agreement, and to do all such other acts and things, as Lessor may deem to be necessary or desirable to protect and preserve the rights granted under this Section. Lessee hereby grants to Lessor the full power and authority to appoint one or more substitutes to perform any of the acts that Lessor is authorized other Transaction Documents, the Lease, and (iii) at any time and from time to perform under this Sectiontime, with a right generally to revoke such appointment of substitution do, at Lessor's pleasurerequest and Pledgor's expense, all acts and things which Lessor deems necessary or advisable to accomplish the purposes of this Agreement including, without limitation, to receive, endorse and collect all instruments made payable to Pledgor representing any payment or other distribution in respect of the Pledged Collateral or any part thereof and to give full discharge for the same, all as fully and effectually as Pledgor might or could do; and Pledgor hereby ratifies all that said attorney shall lawfully do or cause to be done by virtue hereof. The This power of attorney granted pursuant to this Section is coupled with an interest and therefore is irrevocableshall be irrevocable for the term of this Agreement and thereafter as long as any of the Obligations shall be outstanding. Any person dealing with Lessor may rely upon the representation of Lessor relating to any authority granted by this power of attorney, including the intended scope attempted revocation of the authority, and may accept the written certificate of Lessor that this power of attorney is in full force and effect. Photographic or other facsimile reproductions of this executed Lease may be made and delivered by Lessor, and may be relied upon by any person to the same extent as though the copy were an original. Anyone who acts in reliance upon any representation or certificate of Lessor, or upon a reproduction of this Lease, shall not be liable for permitting Lessor to perform any act pursuant to this power of attorney. Notwithstanding the foregoing, Lessor covenants with Lessee that Lessor shall refrain from exercising the power powers of attorney granted hereby except in the case of an Event of Default hereunder herein shall be null and void. There are no conditions or in the event of a default, which, in requirements imposed on Lessor's reasonable judgment, may lead to exercise of the suspension or revocation powers of any license of Lessee or of any sublesseeattorney other than as set forth herein.

Appears in 1 contract

Samples: Stock Pledge Agreement (Environmental Power Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.