Power of TCS to Act on the Company’s Behalf Sample Clauses

Power of TCS to Act on the Company’s Behalf. TCS, or an agent on its behalf, shall have the right to receive, endorse, assign and/or deliver in the name of TCS or the Company any and all checks, drafts and other instruments for the payment of money relating to the Receivables, and the Company hereby waives notice of presentment, protest and non-payment of any instrument so endorsed. If an Event of Default has occurred and provided TCS elects to exercise its remedies under this Agreement, the Company hereby constitutes TCS or TCS’s designee as the Company’s attorney with power (i) to endorse the Company’s name upon any notes, acceptances, checks, drafts, money orders or other evidences of payment or Collateral; (ii) to sign the Company’s name on any invoice or bxxx of lading relating to any of the Receivables, drafts against Customers, assignments and verifications of Receivables; (iii) to send verifications of Receivables to any Customer; (iv) to sign the Company’s name on all documents or instruments deemed necessary or appropriate by TCS to preserve, protect, or perfect TCS’s interest in the Collateral and to file same; (v) to demand payment of the Receivables; (vi) to enforce payment of the Receivables by legal proceedings or otherwise; (vii) to exercise all of the Company’s rights and remedies with respect to the collection of the Receivables and any other Collateral; (viii) to settle, adjust, compromise, extend or renew the Receivables; (ix) to settle, adjust or compromise any legal proceedings brought to collect Receivables; (x) to prepare, file and sign the Company’s name on a proof of claim in bankruptcy or similar document against any Customer; (xi) to prepare, file and sign the Company’s name on any notice of lien, assignment or satisfaction of lien or similar document in connection with the Receivables; and (xii) to do all other acts and things necessary to carry out this Agreement. All acts of said attorney or designee are hereby ratified and approved, and said attorney or designee shall not be liable for any acts of omission or commission nor for any error of judgment or mistake of fact or of law, unless done maliciously or with gross (not mere) negligence (as determined by a court of competent jurisdiction in a final non-appealable judgment); this power being coupled with an interest is irrevocable while any of the Reimbursement Obligations remain unpaid. TCS shall have the right at any time following the occurrence of an Event of Default, to change the address for delivery of mail addr...
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Related to Power of TCS to Act on the Company’s Behalf

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