Common use of POWER OF ATTORNEY AND NOTICES Clause in Contracts

POWER OF ATTORNEY AND NOTICES. (a) The Pledgor authorises the Pledgee to be its attorney and in its name, on its behalf and as its act and deed to execute, deliver and perfect all documents and do all things that the Pledgee may consider to be requisite for carrying out any obligation imposed on the Pledgor under this Agreement or exercising any of the rights conferred on the Pledgee by this Agreement or by law, in particular in connection with a private realisation (Private Verwertung, including, without limitation, self-sale (Selbsteintritt)) provided that as long as no Event of Default has been declared the Pledgee agrees not to take any such step unless the Pledgee would have the right under this Agreement to request the Pledgor to take such step and the Pledgor has failed to take such step within 10 business days upon being notified of that failure and being requested to comply.