Common use of Notification of Debtors; Grant of Powers Clause in Contracts

Notification of Debtors; Grant of Powers. Lender shall have the right at any time after the occurrence of an Event of Default to notify Account Debtors of its security interest in the Accounts and to require payments to be made directly to Lender at such address or in such manner as Lender may deem appropriate. Upon request of Lender at any time after the occurrence of an Event of Default, Borrower will so notify the Account Debtors and will indicate on all xxxxxxxx to the Account Debtors that the Accounts are payable to Lender. To facilitate direct collection, Borrower hereby appoints Lender and any officer or employee of Lender as Lender may from time to time designate, as attorney-in-fact for Borrower if after the occurrence of an Event of Default to (a) receive, open and dispose of all mail addressed to Borrower and take therefrom any payments on or proceeds of Accounts, (b) take over Borrower's post office boxes or make other arrangements, in which Borrower shall cooperate, to receive Borrower's mail, including notifying the post office authorities to change the address for delivery of mail addressed to Borrower to such address as Lender shall designate, (c) endorse the name of Borrower in favor of Lender upon any and all checks, drafts, money orders, notes, acceptances or other evidences or payment or Collateral that may come into Lender's possession, (d) sign and endorse the name of Borrower on any invoice or xxxx of lading relating to any of the Accounts, on verifications of Accounts sent to any Account Debtor, to drafts against Account Debtors, to assignments of Accounts and to notices to Debtors, and (e) do all acts and things necessary to carry out this Agreement, including signing the name of Borrower on any instruments required by law in connection with the transactions contemplated hereby and on Financing Statements as permitted by the Uniform Commercial Code. Borrower hereby ratifies and approves all acts of such attorneys-in-fact, and neither Lender nor any other such attorney-in-fact shall be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law, excluding acts of Lender or such attorney-in-fact that are willful, intentionally malicious or grossly negligent. This power, being coupled with an interest, is irrevocable if after the occurrence of an Event of Default so long as any of the Obligations remain unsatisfied.

Notification of Debtors; Grant of Powers. Lender shall have the right at any time after the occurrence of an Event of Default to notify Account Debtors of its security interest in the Accounts and to require payments to be made directly to the Lender at such address or in such manner as the Lender may deem appropriate. Upon request of the Lender at any time after the occurrence of an Event of Default, the Borrower will so notify the Account Debtors and will indicate on all xxxxxxxx to the Account Debtors that the Accounts are payable to the Lender. To facilitate direct collection, Borrower hereby appoints the Lender and any officer or employee of the Lender as the Lender may from time to time designate, as attorney-in-fact for Borrower if after the occurrence of an Event of Default to (a) receive, open and dispose of all mail addressed to Borrower and take therefrom any payments on or proceeds of Accounts, (b) take over the Borrower's ’s post office boxes or make other arrangements, in which the Borrower shall cooperate, to receive the Borrower's ’s mail, including notifying the post office authorities to change the address for delivery of mail addressed to Borrower to such address as the Lender shall designate, (c) endorse the name of Borrower in favor of the Lender upon any and all checks, drafts, money orders, notes, acceptances or other evidences or payment or Collateral that may come into the Lender's ’s possession, (d) sign and endorse the name of Borrower on any invoice or xxxx of lading relating to any of the Accounts, on verifications of Accounts sent to any Account Debtor, to drafts against Account Debtors, to assignments of Accounts and to notices to Debtors, and (e) do all acts and things necessary to carry out this Agreement, including signing the name of the Borrower on any instruments required by law in connection with the transactions contemplated hereby and on Financing Statements as permitted by the Uniform Commercial Code. The Borrower hereby ratifies and approves all acts of such attorneys-in-fact, and neither the Lender nor any other such attorney-in-fact shall be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law, excluding acts of the Lender or such attorney-in-fact that are willful, intentionally malicious or grossly negligent. This power, being coupled with an interest, is irrevocable if after the occurrence of an Event of Default so long as any of the Obligations remain unsatisfied.

Notification of Debtors; Grant of Powers. Lender shall have the right at any time after the occurrence of an Event of Default which has not been waived or cured to the satisfaction of Lender, to notify Account Debtors of its security interest in the Accounts and to require payments to be made directly to Lender at such address or in such manner as Lender may deem appropriate. Upon request of Lender at any time after the occurrence of an Event of DefaultDefault which has not been waived or cured to the satisfaction of Lender, Borrower will so notify the Account Debtors and will indicate on all xxxxxxxx billings to the Account Debtors that the Accounts are payable to LenderLexxxx. To Xx facilitate direct collection, Borrower hereby appoints Lender and any officer or employee of Lender as Lender may from time to time designate, as attorney-in-fact for Borrower if after the occurrence of an Event of Default which has not been waived or cured to the satisfaction of Lender to (a) receive, open and dispose of all mail addressed to Borrower and take therefrom any payments on or proceeds of Accounts, (b) take over Borrower's post office boxes or make other arrangements, in which Borrower shall cooperate, to receive Borrower's mail, including notifying the post office authorities to change the address for delivery of mail addressed to Borrower to such address as the Lender shall designate, (c) endorse the name of Borrower in favor of Lender upon any and all checks, drafts, money orders, notes, acceptances or other evidences or payment or Collateral that may come into Lender's possession, (d) sign and endorse the name of Borrower on any invoice or xxxx bill of lading relating to any of the Accounts, on verifications of Accounts Xxxounts sent to any Account Debtor, to drafts against Account Debtors, to assignments of Accounts and to notices to Debtors, and (e) do all acts and things necessary to carry out this Agreement, including signing the name of Borrower on any instruments required by law in connection with the transactions contemplated hereby and on Financing Statements as permitted by the Uniform Commercial Code. Borrower hereby ratifies and approves all acts of such attorneys-in-fact, and neither Lender nor any other such attorney-in-fact shall be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law, excluding acts of Lender or such attorney-in-fact that are willful, intentionally malicious or grossly negligent. This power, being coupled with an interest, is irrevocable if after the occurrence of an Event of Default which has not been waived or cured to the satisfaction of Lender, so long as any of the Obligations remain unsatisfied.

Notification of Debtors; Grant of Powers. Lender The Agent on behalf of the Lenders, may or, if directed by a Majority of Lenders, shall have the right at any time after the occurrence and during the continuance of an Event of Default to notify Account Debtors of its security interest in the Accounts and to require payments to be made directly to Lender Agent or Lenders at such address or in such manner as Lender the Agent may deem appropriate. Upon request of Lender Agent or a Majority of Lenders at any time after the occurrence and during the continuance of an Event of Default, the Borrower will so notify the Account account Debtors and will indicate on all xxxxxxxx to the Account account Debtors that the Accounts are payable to LenderAgent, for the benefit of Lenders. To facilitate direct collection, the Borrower hereby appoints Lender the Agent on behalf of the Lenders, Lenders and any officer or employee of the Agent or any Lender as Lender the Agent may from time to time designate, as attorney-in-fact for Borrower if the Borrower, after the occurrence and during the continuance of an Event of Default Default, to (a) receive, receive and open and dispose of all mail addressed to the Borrower and take therefrom any payments on or proceeds of Accounts, and forward all mail not containing payments to Borrower, (b) take over the Borrower's post office boxes or make other arrangements, in which the Borrower shall cooperate, to receive the Borrower's mail, including notifying the post office authorities to change the address for delivery of mail addressed to the Borrower to such address as Lender the Agent shall designate, (c) endorse the name of the Borrower in favor of Lender the Agent on behalf of the Lenders, or Lenders upon any and all checks, drafts, money orders, notes, acceptances or other evidences or payment or Collateral that may come into Lenderthe Agent's possession, (d) sign and endorse the name of the Borrower on any invoice or xxxx of lading relating to any of the Accounts, on verifications of Accounts sent to any Account Debtor, to drafts against Account Debtors, to assignments of Accounts and to notices to Debtors, and (e) do all acts and things reasonably necessary to carry out this Agreement, including signing the name of the Borrower on any instruments required by law in connection with the transactions contemplated hereby and on Financing Statements as permitted by the Uniform Commercial Code. The Borrower hereby ratifies and approves all acts of such attorneys-in-fact, and neither Lender the Agent nor any other such attorney-in-fact shall be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law, excluding acts of Lender or such attorney-in-fact that are willful, intentionally malicious or grossly negligentexcept for willful misconduct. This power, being coupled with an interest, is irrevocable if after the occurrence of an Event of Default so long as any of the Obligations remain unsatisfied.