Common use of Power of Attorney, Irrevocable Proxy Clause in Contracts

Power of Attorney, Irrevocable Proxy. (a) NCMC hereby constitutes and irrevocably appoints the Buyer, with full power of substitution and revocation, as NCMC’s true and lawful attorney-in-fact, with the power, to the full extent permitted by law, to affix to any notes and documents representing the Pledged Collateral the conveyance or bond powers delivered with respect thereto, and to transfer or cause the transfer of the Pledged Collateral, or any part thereof, on the books of the Seller or other entity issuing such Pledged Collateral, to the name of the Buyer or any nominee, and thereafter to exercise with respect to such Pledged Collateral, all the rights, powers and remedies of an owner. The power of attorney granted pursuant to this Guaranty and all authority hereby conferred are granted and conferred solely to protect the Buyer’s interest in the Pledged Collateral and shall not impose any duty upon the Buyer to exercise any power. This power of attorney shall be irrevocable as one coupled with an interest until the Expiration Date.

Power of Attorney, Irrevocable Proxy. (a) NCMC hereby constitutes and irrevocably appoints the Buyer, with full power of substitution and revocation, as NCMC’s 's true and lawful attorney-in-fact, with the power, to the full extent permitted by law, to affix to any notes and documents representing the Pledged Collateral the conveyance or bond powers delivered with respect thereto, and to transfer or cause the transfer of the Pledged Collateral, or any part thereof, on the books of the Seller or other entity issuing such Pledged Collateral, to the name of the Buyer or any nominee, and thereafter to exercise with respect to such Pledged Collateral, all the rights, powers and remedies of an owner. The power of attorney granted pursuant to this Guaranty and all authority hereby conferred are granted and conferred solely to protect the Buyer’s 's interest in the Pledged Collateral and shall not impose any duty upon the Buyer to exercise any power. This power of attorney shall be irrevocable as one coupled with an interest until the Expiration Date.

Power of Attorney, Irrevocable Proxy. (a) NCMC NFI Holding hereby constitutes and irrevocably appoints the Buyer, with full power of substitution and revocation, as NCMC’s NFI Holding's true and lawful attorney-in-fact, with the power, to the full extent permitted by law, to affix to any notes and documents representing the Pledged Collateral the conveyance stock or bond powers delivered with respect thereto, and to transfer or cause the transfer of the Pledged Collateral, or any part thereof, on the books of the Seller or other entity issuing such Pledged Collateral, to the name of the Buyer or any nominee, and thereafter to exercise with respect to such Pledged Collateral, all the rights, powers and remedies of an owner. The power of attorney granted pursuant to this Guaranty Section and all authority hereby conferred are granted and conferred solely to protect the Buyer’s 's interest in the Pledged Collateral and shall not impose any duty upon the Buyer to exercise any power. This power of attorney shall be irrevocable as one coupled with an interest until the Expiration Date.