Common use of Secretary’s Authority Clause in Contracts

Secretary’s Authority. In consideration of the Secretary’s Guarantee relating to the Note that has been purchased by FFB under this Agreement, the Secretary shall have the sole authority (vis-a-vis FFB), in the case of a default by the Borrower under such Note or the occurrence of an Event of Default under the Security Instruments, in respect of acceleration of such Note, the exercise of other available remedies, and the disposition of sums or property recovered.

Secretary’s Authority. In consideration of the Secretary’s 's Guarantee relating to the Note that has been purchased by FFB under this Agreement, the Secretary shall have the sole authority (vis-aà-vis FFB), in the case of a default by the Borrower under such Note or the occurrence of DOE (Title XVII) GEORGIA POWER COMPANY an Event of Default under the Security Instruments, in respect of acceleration of such Note, the exercise of other available remedies, and the disposition of sums or property recovered.

Secretary’s Authority. In consideration of the respective Secretary’s Guarantee relating to the each Note that has been purchased by FFB under this Agreement, the Secretary shall have the sole authority (vis-aà-vis FFB), in the case of a default by the Borrower under such the respective Note or the occurrence of an Event of Default under the Security Instruments, in respect of acceleration of such Note, the exercise of other available remedies, and the disposition of sums or property recovered.

Secretary’s Authority. In consideration of the Secretary’s Guarantee relating to the Note Bond that has been purchased by FFB under this Agreement, the Secretary shall have the sole authority (vis-aà-vis FFB), in the case of a default by the Borrower Qualified Issuer under such Note Bond or the occurrence of an Event of Default under the Security InstrumentsIndenture (as the term “Event of Default” is defined in the Indenture), in respect of acceleration of such NoteBond, the exercise of other available remedies, and the disposition of sums or property recovered.

Secretary’s Authority. In consideration of the Secretary’s 's Guarantee relating to the Note that has been purchased by FFB under this Agreement, the Secretary shall have the sole authority (vis-aà-vis FFB), in the case of a default by the Borrower under such Note or the occurrence of an Event of Default under the Security Instruments, in respect of acceleration of such Note, the exercise of other available remedies, and the disposition of sums or property recovered.

Secretary’s Authority. In consideration of the Secretary’s Guarantee relating to the Note that has been purchased by FFB under this Agreement, the Secretary shall have the sole authority (vis-aà-vis FFB), in the case of a default by the Borrower under such the Note or the occurrence of an Event of Default under the Security Instruments, in respect of acceleration of such Note, the exercise of other available remedies, and the disposition of sums or property recovered.