Common use of Administrative Agent Appointed Attorney-in-Fact Clause in Contracts

Administrative Agent Appointed Attorney-in-Fact. Each Pledgor hereby appoints Administrative Agent as Pledgor’s attorney-in-fact, effective during the continuance of an Event of Default, with full power of substitution, for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is coupled with an interest and is irrevocable. Without limiting the generality of the foregoing, after the occurrence and during the continuance of an Event of Default, Administrative Agent shall have the right and power to receive, endorse, and collect all checks and other orders for the payment of money made payable to any Pledgor representing any dividend or other distribution payable or distributable in respect of the Collateral or any part thereof, and to give full discharge for same.

Appears in 6 contracts

Samples: Credit Agreement (HMS Income Fund, Inc.), Equity Pledge Agreement (Main Street Capital CORP), Equity Pledge Agreement (Main Street Capital CORP)

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Administrative Agent Appointed Attorney-in-Fact. Each Pledgor hereby appoints Administrative Agent as Pledgor’s attorney-in-fact, effective during the continuance of an Event of Default, with full power of substitution, for the limited purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is coupled with an interest and is irrevocable. Without limiting the generality of the foregoing, after the occurrence and during the continuance of an Event of Default, Administrative Agent shall have the right and power to receive, endorse, and collect all checks and other orders for the payment of money made payable to any Pledgor representing any dividend or other distribution payable or distributable in respect of the Collateral or any part thereof, and to give full discharge for same.

Appears in 2 contracts

Samples: Equity Pledge Agreement (Triangle Capital CORP), Equity Pledge Agreement (Triangle Capital CORP)

Administrative Agent Appointed Attorney-in-Fact. Each Pledgor hereby appoints Administrative Agent as the Pledgor’s attorney-in-fact, effective during the continuance of an Event of Default, with full power of substitution, for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is coupled with an interest and is irrevocable. Without limiting the generality of the foregoing, after the occurrence and during the continuance of an Event of DefaultDefault as defined in the Credit Agreement, Administrative Agent shall have the right and power to receive, endorse, and collect all checks and other orders for the payment of money made payable to any Pledgor representing any dividend or other distribution payable or distributable in respect of the Collateral or any part thereof, and to give full discharge for same.

Appears in 2 contracts

Samples: Credit Agreement (Gladstone Commercial Corp), Credit Agreement and Waiver (Gladstone Commercial Corp)

Administrative Agent Appointed Attorney-in-Fact. Each The Pledgor hereby appoints Administrative Agent as the Pledgor’s attorney-in-fact, effective during the continuance of an Event of Default, with full power of substitution, for the purpose purpose, upon the occurrence of an Event of Default, of carrying out the provisions of this Agreement and taking any action and executing any instrument that Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is coupled with an interest and is irrevocable. Without limiting the generality of the foregoing, after the occurrence and during the continuance of an Event of DefaultDefault as defined in the Credit Agreement, Administrative Agent shall have the right and power to receive, endorse, and collect all checks and other orders for the payment of money made payable to any Pledgor representing any dividend or other distribution payable or distributable in respect of the Collateral or any part thereof, and to give full discharge for same.

Appears in 2 contracts

Samples: Credit Agreement (St Joe Co), Credit Agreement (St Joe Co)

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Administrative Agent Appointed Attorney-in-Fact. Each Pledgor hereby appoints Administrative Agent as Pledgor’s attorney-in-fact, effective Upon the occurrence and during the continuance of an Event of DefaultDefault which has not been waived, with full power of substitution, the Pledgor hereby appoints the Administrative Agent as its attorney-in-fact for the purpose of carrying out the provisions of this Agreement and the pledge of the Pledged Securities hereunder and taking any action and executing any instrument that which the Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest and is irrevocableinterest. Without limiting the generality of the foregoing, after the occurrence and during the continuance of an Event of Default, Administrative Agent shall have the right and power to receive, endorse, and collect all checks and other orders for the payment of money made payable to any the Pledgor representing any dividend or other distribution payable or distributable in respect of the Collateral Pledged Securities or any part thereof, thereof and to give full discharge for the same.

Appears in 1 contract

Samples: Pledge Agreement (Simon Worldwide Inc)

Administrative Agent Appointed Attorney-in-Fact. Each Pledgor hereby appoints Administrative Agent as Pledgor’s attorney-in-fact, effective Upon the occurrence of an Event of Default and during the continuance of an Event of Default, with full power of substitution, the Pledgor hereby appoints the Administrative Agent its attorney-in-fact for the purpose of carrying out the provisions of this Pledge Agreement and the pledge of the Pledged Securities hereunder and taking any action and executing any instrument that which the Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest and is irrevocableinterest. Without limiting the generality of the foregoing, after the occurrence and during the continuance of an Event of Default, Administrative Agent shall have the right and power to receive, endorse, and collect all checks and other orders for the payment of money made payable to any the Pledgor representing any dividend or other distribution payable or distributable in respect of the Collateral Pledged Securities or any part thereof, thereof and to give full discharge for the same.

Appears in 1 contract

Samples: Fiber Exchange Agreement (General Communication Inc)

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