Common use of Appointment of Attorney-in-Fact Clause in Contracts

Appointment of Attorney-in-Fact. (a) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ for, attach, levy, recover and receive any of the Rents and any premium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the Indenture. Mortgagor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee in accordance with this Article III, and Mortgagor hereby ratifies and confirms all that its said attorney-in-fact, the Mortgagee, shall do or cause to be done in accordance with this Mortgage and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. (b) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor under any such Lease, or in any case where Mortgagor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.05, and Mortgagor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's written request) to subordinate any such Lease to the lien of this Mortgage or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 11 contracts

Sources: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.), Mortgage (Progress Precision Inc.), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.)

Appointment of Attorney-in-Fact. (a) Mortgagor Trustor hereby constitutes and appoints Mortgagee Beneficiary the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor Trustor and Mortgagor Trustor hereby confers upon Mortgagee Beneficiary the right, in the name, place and stead of MortgagorTrustor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ for, attach, levy, recover and receive any of the Rents and any premium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the IndentureCredit Agreement. Mortgagor Trustor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee Beneficiary in accordance with this Article III, and Mortgagor Trustor hereby ratifies and confirms all that its said attorney-in-fact, the MortgageeBeneficiary, shall do or cause to be done in accordance with this Mortgage Deed of Trust and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in MortgageeBeneficiary, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. (b) Mortgagor Trustor hereby constitutes and appoints Mortgagee Beneficiary the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor Trustor and Mortgagor Trustor hereby confers upon Mortgagee Beneficiary the right, in the name, place and stead of MortgagorTrustor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage Deed of Trust and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Trust Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor Trustor under any such Lease, or in any case where Mortgagor Trustor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in MortgageeBeneficiary, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor Trustor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.053.05(b), and Mortgagor Trustor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at MortgageeBeneficiary's written request) to subordinate any such Lease to the lien of this Mortgage Deed of Trust or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 4 contracts

Sources: Deed of Trust (Lakes Entertainment Inc), Deed of Trust (Lakes Entertainment Inc), Deed of Trust (Lakes Entertainment Inc)

Appointment of Attorney-in-Fact. (a) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ for, attach, levy, recover and receive any of the Rents and any premium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the IndentureCredit Agreement. Upon the occurrence and during the continuance of an Event of Default, Mortgagor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee in accordance with this Article III, and Mortgagor hereby ratifies and confirms all that its said attorney-in-fact, the Mortgagee, shall do or cause to be done in accordance with this Mortgage and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. (b) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, upon and at any time following the occurrence, and during the continuance of, an Event of Default, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreementCredit Agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor under any such Lease, or in any case where Mortgagor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exerciseexercise [which appointment is in force and effect as of the date hereof]) any of the rights described in this Section 3.05, and Mortgagor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's ’s written request) to subordinate any such Lease to the lien of this Mortgage or to any other mortgage, deed of trust, assignment or security agreement Credit Agreement or to any ground lease or surface lease.

Appears in 2 contracts

Sources: Subordinate Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ascendia Brands, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ascendia Brands, Inc.)

Appointment of Attorney-in-Fact. (aA) Mortgagor Trustor hereby constitutes and appoints Mortgagee Beneficiary the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor Trustor and Mortgagor Trustor hereby confers upon Mortgagee Beneficiary the right, in the name, place and stead of MortgagorTrustor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ sue for, attach, levy, recover and receive any of the Rents and any premium p▇▇▇ium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the IndentureFinancing Agreement. Mortgagor Trustor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee Beneficiary in accordance with this Article III, and Mortgagor Trustor hereby ratifies and confirms all that its said attorney-in-fact, the MortgageeBeneficiary, shall do or cause to be done in accordance with this Mortgage Deed of Trust and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in MortgageeBeneficiary, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. (bB) Mortgagor Trustor hereby constitutes and appoints Mortgagee Beneficiary the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor Trustor and Mortgagor Trustor hereby confers upon Mortgagee Beneficiary the right, in the name, place and stead of MortgagorTrustor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage Deed of Trust and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Trust Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor Trustor under any such Lease, or in any case where Mortgagor Trustor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in MortgageeBeneficiary, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor Trustor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.053.05(b), and Mortgagor Trustor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at MortgageeBeneficiary's written request) to subordinate any such Lease to the lien of this Mortgage Deed of Trust or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 2 contracts

Sources: Deed of Trust (Lakes Entertainment Inc), Deed of Trust (Lakes Entertainment Inc)

Appointment of Attorney-in-Fact. (a) Mortgagor Trustor hereby constitutes and appoints Mortgagee Beneficiary the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor Trustor and Mortgagor Trustor hereby confers upon Mortgagee Beneficiary the right, in the name, place and stead of MortgagorTrustor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ for, attach, levy, recover and receive any of the Rents and any premium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the Indenture. Mortgagor Trustor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee Beneficiary in accordance with this Article III, and Mortgagor Trustor hereby ratifies and confirms all that its said attorney-in-fact, the MortgageeBeneficiary, shall do or cause to be done in accordance with this Mortgage Deed of Trust and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in MortgageeBeneficiary, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged, and until the commitments under the Indenture have been terminated. (b) Mortgagor Trustor hereby constitutes and appoints Mortgagee Beneficiary the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor Trustor and Mortgagor Trustor hereby confers upon Mortgagee Beneficiary the right, in the name, place and stead of MortgagorTrustor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage Deed of Trust and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Trust Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor Trustor under any such Lease, or in any case where Mortgagor Trustor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in MortgageeBeneficiary, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischargedundischarged and until the commitments under the Indenture have been terminated. Mortgagor Trustor hereby represents and warrants that it has not at any time prior to exercised, and no Person has the date hereof exercised (or appointed any Person as attorney-in-fact current right to exercise) , any of the rights described in this Section 3.053.05(b), and Mortgagor Trustor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's Beneficiary’s written request) to subordinate any such Lease to the lien of this Mortgage Deed of Trust or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 2 contracts

Sources: Deed of Trust (Gsi Group Inc), Deed of Trust (Gsi Group Inc)

Appointment of Attorney-in-Fact. (a) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ for, attach, levy, recover and receive any of the Rents and any premium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the IndentureCredit Agreement. Mortgagor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee in accordance with this Article III, and Mortgagor hereby ratifies and confirms all that its said attorney-in-fact, the Mortgagee, shall do or cause to be done in accordance with this Mortgage and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged.; (b) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor under any such Lease, or in any case where Mortgagor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.05, and Mortgagor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's written request) to subordinate any such Lease to the lien of this Mortgage or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Lakes Entertainment Inc)

Appointment of Attorney-in-Fact. (a) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ for, attach, levy, recover and receive any of the Rents and any premium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the Indenture. Mortgagor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee in accordance with this Article III, and Mortgagor hereby ratifies and confirms all that its said attorney-in-fact, the Mortgagee, shall do or cause to be done in accordance with this Mortgage and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. (b) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor under any such Lease, or in any case where Mortgagor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.053.05(b), and Mortgagor hereby covenants not to exercise (or allow or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's ’s written request) to subordinate any such Lease to the lien of this Mortgage or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 1 contract

Sources: Indenture (Angiotech Pharmaceuticals Inc)

Appointment of Attorney-in-Fact. (a) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to, upon after the occurrence and during the continuance of an Event of Default, Default to demand, ▇▇▇ for, attach, levy, recover and receive any of the Rents and any premium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in accordance with the Indenture. provisions of the Loan Agreement; and Mortgagor does hereby authorizes authorize and directs direct any such third Person to deliver such payment to Mortgagee in accordance with this Article III, and Mortgagor hereby ratifies and confirms all that its said attorney-in-fact, the Mortgagee, shall do or cause to be done in accordance with this Mortgage and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains remain unpaid or unperformed and undischarged. (b) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage and to the terms hereofMortgage, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor under any such Lease, or in any case where Mortgagor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains remain unpaid or unperformed and undischarged. Mortgagor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.053.05(b), and Mortgagor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's written request) to subordinate any such Lease to the lien of this Mortgage or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Iron Age Corp)

Appointment of Attorney-in-Fact. (a) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to, upon the occurrence and during the continuance of an Event of Default, demand, s▇▇ for, attach, levy, recover and receive any of the Rents and any premium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the IndentureNotes. Mortgagor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee in accordance with this Article III, and Mortgagor hereby ratifies and confirms all that its said attorney-in-fact, the Mortgagee, shall do or cause to be done in accordance with this Mortgage and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. (b) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor under any such Lease, or in any case where Mortgagor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.05, and Mortgagor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's written request) to subordinate any such Lease to the lien of this Mortgage or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 1 contract

Sources: Securities Purchase Agreement (Minrad International, Inc.)

Appointment of Attorney-in-Fact. (aA) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ sue for, attach, levy, recover and receive any of the Rents and any premium p▇▇▇ium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the IndentureFinancing Agreement. Mortgagor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee in accordance with this Article III, and Mortgagor hereby ratifies and confirms all that its said attorney-in-fact, the Mortgagee, shall do or cause to be done in accordance with this Mortgage and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged.; (bB) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor under any such Lease, or in any case where Mortgagor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.05, and Mortgagor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's written request) to subordinate any such Lease to the lien of this Mortgage or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 1 contract

Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Lakes Entertainment Inc)

Appointment of Attorney-in-Fact. (aA) Mortgagor Trustor hereby constitutes and appoints Mortgagee Beneficiary the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor Trustor and Mortgagor Trustor hereby confers upon Mortgagee Beneficiary the right, in the name, place and stead of MortgagorTrustor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ sue for, attach, levy, recover and receive any of the Rents and any premium ▇▇▇mium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the IndentureFinancing Agreement. Mortgagor Trustor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee Beneficiary in accordance with this Article III, and Mortgagor Trustor hereby ratifies and confirms all that its said attorney-in-fact, the MortgageeBeneficiary, shall do or cause to be done in accordance with this Mortgage Deed of Trust and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in MortgageeBeneficiary, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. (bB) Mortgagor Trustor hereby constitutes and appoints Mortgagee Beneficiary the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor Trustor and Mortgagor Trustor hereby confers upon Mortgagee Beneficiary the right, in the name, place and stead of MortgagorTrustor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage Deed of Trust and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Trust Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor Trustor under any such Lease, or in any case where Mortgagor Trustor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in MortgageeBeneficiary, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor Trustor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.053.05(b), and Mortgagor Trustor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at MortgageeBeneficiary's written request) to subordinate any such Lease to the lien of this Mortgage Deed of Trust or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 1 contract

Sources: Deed of Trust (Lakes Entertainment Inc)

Appointment of Attorney-in-Fact. (a) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to, upon the occurrence and during the continuance of an Event of Default, demand, ▇▇▇ sue for, attach, levy, recover and receive any of the Rents and any premium p▇▇▇ium or penalty payable upon the exercise by any third Person under any Lease of a privilege of cancellation originally provided in such Lease and to give proper receipts, releases and acquittances therefor and, after deducting expenses of collection, to apply the net proceeds as provided in the Indenture. Mortgagor hereby authorizes and directs any such third Person to deliver such payment to Mortgagee in accordance with this Article III, and Mortgagor hereby ratifies and confirms all that its said attorney-in-fact, the Mortgagee, shall do or cause to be done in accordance with this Mortgage and by virtue of the powers granted hereby. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. (b) Mortgagor hereby constitutes and appoints Mortgagee the true and lawful attorney-in-fact, coupled with an interest, of Mortgagor and Mortgagor hereby confers upon Mortgagee the right, in the name, place and stead of Mortgagor, to subject and subordinate at any time and from time to time any Lease or any part thereof to the lien, assignment and security interest of this Mortgage and to the terms hereof, or to any other mortgage, deed of trust, assignment or security agreement, or to any ground lease or surface lease, with respect to all or a portion of the Mortgaged Property, or to request or require such subordination, where such reservation, option or authority was reserved to Mortgagor under any such Lease, or in any case where Mortgagor otherwise would have the right, power or privilege so to do. The foregoing appointment is irrevocable and continuing, and such rights, powers and privileges shall be exclusive in Mortgagee, and its successors and assigns, so long as any part of the Senior Secured Note Obligations remains unpaid or unperformed and undischarged. Mortgagor hereby represents and warrants that it has not at any time prior to the date hereof exercised (or appointed any Person as attorney-in-fact to exercise) any of the rights described in this Section 3.05, and Mortgagor hereby covenants not to exercise (or appoint any other Person as attorney-in-fact to exercise) any such right, nor (except at Mortgagee's written request) to subordinate any such Lease to the lien of this Mortgage or to any other mortgage, deed of trust, assignment or security agreement or to any ground lease or surface lease.

Appears in 1 contract

Sources: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.)