Common use of Xxxxxx as Attorney-in-Fact Clause in Contracts

Xxxxxx as Attorney-in-Fact. Upon the occurrence and during the continuance of an Event of Default and after notice pursuant to Section 4.01(b) hereof, the Pledgor hereby appoints Xxxxxx as his agent and attorney-in-fact for the purpose of carrying out the provisions of this Pledge Agreement and taking any action and executing any instruments which Xxxxxx may xxxx necessary or advisable to accomplish the purposes hereof, which appointment as agent and attorney-in-fact is irrevocable and coupled with an interest. Without limiting the generality of the foregoing, after the occurrence of an Event of Default, Xxxxxx shall have the right to receive, collect and endorse all checks made payable to the Pledgor or his order representing any dividend, payment of interest or other distribution in respect of the Collateral or any part thereof and to give full discharge for the same.