Common use of Powers of the Secured Party Clause in Contracts

Powers of the Secured Party. (a) The Company hereby irrevocably designates and appoints the Lender as its attorney-in-fact, with full power of substitution, for the purposes of carrying out the provisions of this Agreement and taking any action and executing any instrument, including,without limitation, any financing statement or continuation statement, and taking any other action to maintain the validity, perfection, priority and enforcement of the security interest intended to be created hereunder, that the Lender may reasonably deem necessary or advisable to accomplish the purposes hereof, which appointment as attorney-in-fact is irrevocable and coupled with an interest.

Appears in 4 contracts

Samples: Security and Pledge Agreement (Transtexas Gas Corp), Security and Pledge Agreement (Transamerican Energy Corp), Security and Pledge Agreement (Transamerican Energy Corp)

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Powers of the Secured Party. (a) The Company hereby irrevocably designates and appoints the Lender Secured Party as its attorney-in-fact, with full power of substitution, for the purposes of carrying out the provisions of this Agreement and taking any action and executing any instrument, including,, without limitation, any financing statement or continuation statement, and taking any other action to maintain the validity, perfection, priority and enforcement of the security interest intended to be created hereunder, that the Lender Secured Party may reasonably deem necessary or advisable to accomplish the purposes hereof, which appointment as attorney-in-fact is irrevocable and coupled with an interest.

Appears in 1 contract

Samples: Security and Pledge Agreement (Transtexas Gas Corp)

Powers of the Secured Party. (a) The Company Borrower hereby irrevocably designates and appoints the Lender Secured Party as its attorney-in-fact, with full power of substitution, for the purposes of carrying out the provisions of this Agreement and taking any action and executing any instrument, including,, without limitation, any financing statement or continuation statement, and taking any other action to maintain the validity, perfection, priority and enforcement of the security interest intended to be created hereunder, that the Lender Secured Party may reasonably deem necessary or advisable to accomplish the purposes hereof, which appointment as attorney-in-fact is irrevocable and coupled with an interest.

Appears in 1 contract

Samples: Security and Pledge Agreement (Transtexas Gas Corp)

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Powers of the Secured Party. (a) The Company hereby irrevocably designates and appoints the Lender as its attorney-in-fact, with full power of substitution, for the purposes of carrying out the provisions of this Agreement and taking any action and executing any instrument, including,, without limitation, any financing statement or continuation statement, and taking any other action to maintain the validity, perfection, priority and enforcement of the security interest intended to be created hereunder, that the Lender may reasonably deem necessary or advisable to accomplish the purposes hereof, which appointment as attorney-in-fact is irrevocable and coupled with an interest.

Appears in 1 contract

Samples: Security and Pledge Agreement (Transamerican Energy Corp)

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