Common use of Additional Powers Clause in Contracts

Additional Powers. 7.1. FINOVA shall have the right at any time in its sole and absolute discretion: (a) to notify Account Debtors that Borrower's Accounts have been assigned to and are payable to FINOVA; and (b) to collect any and all Accounts directly in its own name and charge all of its collection costs and expenses including, but not limited to, its legal expenses to the Borrower's account as part of the Obligations. 7.2. Borrower hereby appoints FINOVA or FINOVA's designee as Borrower's attorney-in-fact, at Borrower's own cost and expense, to exercise at any time all or any of the following powers which, being coupled with an interest, shall be irrevocable until all Obligations have been paid in full: (a) upon FINOVA alleging an Event of Default, to redirect, receive, open and dispose of all mail addressed to Borrower and to notify postal authorities to change the address for delivery thereof to such address as FINOVA may designate; (b) to execute and file in Borrower's name financing statements and amendments under the UCC; (c) to receive, take, endorse, assign, deliver, accept and deposit, in FINOVA's or Borrower's name, any and all checks, notes, drafts, acceptances, money orders, remittances or other evidences of payment of money or Collateral which may come into FINOVA's possession; (d) to sign Borrower's name on any drafts against Account Debtors, assignments and verifications of Accounts; (e) upon FINOVA alleging an Event of Default, to transmit to Account Debtors notice of FINOVA's interest therein and to request from such Account Debtors at any time, in FINOVA's or Borrower's name or that of FINOVA's designee, information concerning the Accounts and the amounts owing thereon; (f) upon FINOVA alleging an Event of Default to notify Account Debtors to make payment directly to FINOVA; (g) upon FINOVA alleging an Event of Default, to take or bring, in FINOVA's or Borrower's name, and in FINOVA's sole and absolute discretion all steps, actions, suits or proceedings deemed necessary or desirable by FINOVA to effect collection of the Collateral; and (h) to do all other acts and things necessary to carry out this Agreement. Borrower hereby releases FINOVA and FINOVA's officers, employees and designees, from all liability (other than acts of gross negligence or wanton misconduct) arising from any act or acts under this Agreement or in furtherance thereof, whether by omission or commission, and whether based upon any error of judgment or mistake of law or fact.

Additional Powers. 7.1. FINOVA shall have the right at any time in its sole and absolute discretion: (a) to notify Account Debtors that Borrower's Accounts have been assigned to and are payable to FINOVA; and (b) to collect any and all Accounts directly in its own name and charge all of its collection costs and expenses including, but not limited to, its legal expenses to the Borrower's account as part of the Obligations. 7.2. Borrower hereby appoints FINOVA AFL or FINOVAAFL's designee as Borrower's attorney-in-fact, at Borrower's own cost and expense, to exercise at any time all or any of the following powers which, being coupled with an interest, shall be irrevocable until all Obligations have been paid in full: : (a) upon FINOVA alleging an Event of Default, to redirect, receive, open and dispose of all mail addressed to Borrower and to notify postal authorities to change the address for delivery thereof to such address as FINOVA may designate; (b) to execute and file in Borrower's name financing statements and amendments under the UCC; (c) to receive, take, endorse, assign, deliver, accept and deposit, in FINOVA's or Borrower's name, any and all checks, notes, drafts, acceptances, money orders, remittances or other evidences of payment of money or Collateral which may come into FINOVA's possession; (db) to sign Borrower's name on any invoice or bill of lading relating to any of the Collateral; (c) to sign Borrower's name ▇▇ ▇ny drafts against Account Debtors, assignments and verifications of Accounts; (ed) upon FINOVA alleging an Event of Default, to transmit to Account Debtors notice of FINOVAAFL's interest therein and to request from such Account Debtors at any time, in FINOVAAFL's or Borrower's name or that of FINOVAAFL's designee, information concerning the Accounts and the amounts owing thereon; (fe) upon FINOVA alleging an Event of Default to notify Account Debtors to make payment directly to FINOVAAFL; (gf) upon FINOVA alleging an Event of Default, to take or bring, in FINOVAAFL's or Borrower's name, and in FINOVAAFL's sole and absolute discretion all steps, actions, suits or proceedings deemed necessary or desirable by FINOVA AFL to effect collection of the CollateralCollateral (after such action is taken, AFL shall promptly give Borrower notice of such action); and (hg) to do all other acts and things necessary to carry out this Agreement. Borrower hereby releases FINOVA AFL and FINOVAAFL's officers, employees and designees, from all liability (other than acts of gross negligence or wanton misconduct) arising from any act or acts under this Agreement or in furtherance thereof, whether by omission or commission, and whether based upon any error of judgment or mistake of law or factfact except for willful misconduct or gross negligence.

Additional Powers. 7.1. FINOVA Lender shall have the right at any time in its sole and absolute reasonable business discretion: (a) to notify Account Debtors that Borrower's ’s Accounts have been assigned to and are payable to FINOVALender; and (b) to collect any and all Accounts directly in its own name and charge all of its collection costs and expenses including, but not limited to, its legal expenses to the Borrower's ’s account as part of the Obligations. 7.2. Borrower hereby appoints FINOVA Lender or FINOVA's Lender’s designee as Borrower's ’s attorney-in-fact, at Borrower's ’s own cost and expense, to exercise at any time all or any of the following powers which, being coupled with an interest, shall be irrevocable until all Obligations have been paid in full: (a) upon FINOVA alleging an Event of Default, to redirect, receive, open and dispose of all mail addressed to Borrower and to notify postal authorities to change the address for delivery thereof to such address as FINOVA Lender may designate; (b) to execute and file in Borrower's ’s name financing statements and amendments under the UCC; (c) to receive, take, endorse, assign, deliver, accept and deposit, in FINOVA's Lender’s or Borrower's ’s name, any and all checks, notes, drafts, acceptances, money orders, remittances or other evidences of payment of money or Collateral which may come into FINOVA's Lender’s possession; (d) to sign Borrower's ’s name on any drafts against Account Debtors, assignments and verifications of Accounts; (e) upon FINOVA alleging an Event of Default, to transmit to Account Debtors notice of FINOVA's Lender’s interest therein and to request from such Account Debtors at any time, in FINOVA's Lender’s or Borrower's ’s name or that of FINOVA's Lender’s designee, information concerning the Accounts and the amounts owing thereon; (f) upon FINOVA alleging an Event of Default to notify Account Debtors to make payment directly to FINOVALender; (g) upon FINOVA alleging an Event of Default, to take or bring, in FINOVA's Lender’s or Borrower's ’s name, and in FINOVA's sole and absolute discretion Lender’s reasonable business discretion, all steps, actions, suits or proceedings deemed necessary or desirable by FINOVA Lender to effect collection of the Collateral; and (h) to do all other acts and things necessary to carry out this Agreement. Borrower hereby releases FINOVA Lender and FINOVA's Lender’s officers, employees and designees, from all liability (other than acts of gross negligence or wanton misconduct) arising from any act or acts under this Agreement or in furtherance thereof, whether by omission or commission, and whether based upon any error of judgment or mistake of law or fact.

Additional Powers. 7.1. FINOVA Lender shall have the right at any time in its sole reasonable business discretion, upon the occurrence of an Event of Default and absolute discretionthe expiration of any applicable cure period: (a) to notify Account Debtors that Borrower's Accounts have been assigned to and are payable to FINOVALender; and (b) to collect any and all Accounts directly in its own name and charge all of its collection costs and expenses including, but not limited to, its legal expenses to the Borrower's account as part of the Obligations. In the event collection of the Borrower's Accounts or the liquidation of the Borrower's inventory or other Collateral falls upon Lender consequent to the occurrence of an Event of Default and the expiration of any applicable cure period, the Borrower shall pay Lender 15% of the amount collected by Lender. 7.2. Borrower hereby appoints FINOVA Lender or FINOVALender's designee as Borrower's attorney-in-fact, at Borrower's own cost and expense, to exercise at any time all or any of the following powers which, being coupled with an interest, shall be irrevocable until all Obligations have been paid in full: : (a) upon FINOVA alleging the occurrence of an Event of DefaultDefault and the expiration of any applicable cure period, to redirect, receive, open and dispose of all mail addressed to Borrower and to notify postal authorities to change the address for delivery thereof to such address as FINOVA Lender may designate; (b) to execute and file in Borrower's name financing statements and amendments under the UCC; (c) to receive, take, endorse, assign, deliver, accept and deposit, in FINOVALender's or Borrower's name, any and all checks, notes, drafts, acceptances, money orders, remittances or other evidences of payment of money or Collateral which may come into FINOVALender's possession; (d) to sign Borrower's name on any drafts against Account Debtors, assignments and verifications of Accounts; (e) upon FINOVA alleging an Event of Default, to transmit to Account Debtors notice of FINOVALender's interest therein and to request from such Account Debtors at any time, in FINOVALender's or Borrower's name or that of FINOVALender's designee, information concerning the Accounts and the amounts owing thereon; (f) upon FINOVA alleging the occurrence of an Event of Default and the expiration of any applicable cure period, to notify Account Debtors to make payment directly to FINOVALender; (g) upon FINOVA alleging an Event of Default, to take or bring, in FINOVALender's or Borrower's name, and in FINOVALender's sole and absolute discretion all steps, actions, suits or proceedings deemed necessary or desirable by FINOVA Lender to effect collection of the Collateral; and (h) to do all other acts and things necessary to carry out this Agreement. Borrower hereby releases FINOVA Lender and FINOVALender's officers, employees and designees, from all liability (other than acts of gross negligence or wanton misconduct) arising from any act or acts under this Agreement or in furtherance thereof, whether by omission or commission, and whether based upon any error of judgment or mistake of law or fact.

Additional Powers. 7.1. 7.1 FINOVA shall have the right at any time in its sole and absolute discretion: (a) to notify Account Debtors that Borrower's Accounts have been assigned to and are payable to FINOVA; and (b) to collect any and all Accounts directly in its own name and charge all of its collection costs and expenses including, but not limited to, its legal expenses to the Borrower's account as part of the Obligations. 7.2. 7.2 Borrower hereby appoints FINOVA or FINOVA's designee as Borrower's attorney-in-fact, at Borrower's own cost and expense, to exercise at any time all or any of the following powers which, being coupled with an interest, shall be irrevocable until all Obligations have been paid in full: (a) upon FINOVA alleging an Event of Default, Default hereunder to redirect, receive, open and dispose of all mail addressed to Borrower and to notify postal authorities to change the address for delivery thereof to such address as FINOVA may designate; (b) to execute and file in Borrower's name financing statements and amendments under the UCC; (c) to receive, take, endorse, assign, deliver, accept and deposit, in FINOVA's or Borrower's name, any and all checks, notes, drafts, acceptances, money orders, remittances or other evidences of payment of money or Collateral which may come into FINOVA's possession; (d) to sign Borrower's name on any drafts against Account Debtors, assignments and verifications of Accounts; (e) upon FINOVA alleging an Event of Default, to transmit to Account Debtors notice of FINOVA's interest therein and to request from such Account Debtors at any time, in FINOVA's or Borrower's name or that of FINOVA's designee, information concerning the Accounts and the amounts owing thereon; (f) upon FINOVA alleging an Event of Default hereunder to notify Account Debtors to make payment directly to FINOVA; (g) upon FINOVA alleging an Event of Default, to take or bring, in FINOVA's or Borrower's name, and in FINOVA's sole and absolute discretion all steps, actions, suits or proceedings deemed necessary or desirable by FINOVA to effect collection of the Collateral; and (h) to do all other acts and things necessary to carry out this Agreement. Borrower hereby releases FINOVA and FINOVA's officers, employees and designees, from all liability (other than acts of gross negligence or wanton misconduct) arising from any act or acts under this Agreement or in furtherance thereof, whether by omission or commission, and whether based upon any error of judgment or mistake of law or fact.