Power of Attorney Following Default Sample Clauses

Power of Attorney Following Default. Until full payment in cash of all Obligations (other than inchoate reimbursement obligations for which no claim has been made), Borrower hereby irrevocably designates, makes, constitutes, and appoints Xxxxxx as Xxxxxxxx’s true and lawful attorney and agent in fact to act in the name of Borrower to effectuate any term in this Agreement after the occurrence and during the continuation of any Event of Default. Without limiting the generality of the foregoing, Xxxxxxxx’s power of attorney to Xxxxxx provided above authorizes Xxxxxx after the continuation of an Event of Default to: (a) demand payment of the Accounts, enforce payment thereof by legal proceedings or otherwise, settle, adjust, compromise, extend, or renew any or all of the Accounts or any legal proceedings brought to collect the Accounts, discharge and release the Accounts or any of them, and exercise all of Borrower’s rights and remedies with respect to the collection of Accounts in accordance with the Related Property and applicable law; (b) prepare, file, and sign the name of Borrower on any proof of claim in bankruptcy or any similar document against any Account Debtor or any notice of Lien, assignment, or satisfaction of Lien or similar document in connection with any of the Collateral; (c) use the stationery of Borrower, open Borrower’s mail, notify the post office authorities to change the address for delivery of Borrower’s mail to an address designated by Xxxxxx, and sign the name of Borrower to verifications of the Accounts and on any notice to the Account Debtors; and (d) use the information recorded on or contained in any data processing equipment and computer hardware and software relating to the Accounts, inventory, or other Collateral. In addition to the foregoing, if Borrower breaches its obligation under Section 2.5 to ensure that all collections and cash proceeds from Accounts are deposited into the Concentration Account, Lender is hereby irrevocably made, constituted and appointed the true and lawful attorney for Borrower pursuant to this Section, and as such, Lender may by the signature or other act of any of Lender’s officers or authorized signatories (without requiring any of them to do so), direct any Account Debtor to pay such collections and cash proceeds from Accounts other Collateral to the Concentration Account. The appointment of Xxxxxx as attorney-in-fact for Borrower is coupled with an interest and is irrevocable until full payment in cash of all Obligations (other tha...