POWER TO FILE NOTICES AND CURE DEFAULTS. Grantor hereby irrevocably appoints Grantee and its successors and assigns, as its attorney-in-fact, which agency is coupled with an interest, to perform any obligation of Grantor hereunder upon the occurrence of an event, act or omission which, with notice or passage of time or both, would constitute a Default, provided, however, that: (a) Grantee as such attorney-in-fact shall only be accountable for such funds as are actually received by Xxxxxxx; and (b) Grantee shall not be liable to Grantor or any other person or entity for any failure to act under this Section.
Appears in 3 contracts
Samples: And Security Agreement (Cole Credit Property Trust III, Inc.), And Security Agreement (Cole Credit Property Trust III, Inc.), And Security Agreement (Cole Credit Property Trust III, Inc.)
POWER TO FILE NOTICES AND CURE DEFAULTS. Grantor hereby irrevocably appoints Grantee Lender and its successors and assigns, as its attorney-in-fact, which agency is coupled with an interest, to perform any obligation of Grantor hereunder upon the occurrence of an event, act or omission which, with notice or passage of time or both, would constitute a Default, provided, however, that: (a) Grantee Lender as such attorney-in-fact shall only be accountable for such funds as are actually received by XxxxxxxXxxxxx; and (b) Grantee Lender shall not be liable to Grantor or any other person or entity for any failure to act under this Section.
Appears in 2 contracts
Samples: Leases and Security Agreement (Cole Credit Property Trust III, Inc.), Leases and Security Agreement (Cole Credit Property Trust III, Inc.)
POWER TO FILE NOTICES AND CURE DEFAULTS. Grantor hereby irrevocably appoints Grantee Lender and its successors and assigns, as its attorney-in-fact, which agency is coupled with an interest, to perform any obligation of Grantor hereunder upon the occurrence of an event, act or omission which, with notice or passage of time or both, would constitute a Default, provided, however, that: (a) Grantee Lender as such attorney-in-fact shall only be accountable for such funds as are actually received by XxxxxxxLender; and (b) Grantee Lender shall not be liable to Grantor or any other person or entity for any failure to act under this Section.
Appears in 2 contracts
Samples: Leases and Security Agreement (Cole Credit Property Trust III, Inc.), Leases and Security Agreement (Cole Credit Property Trust III, Inc.)
