Common use of Appointment of Lender as Attorney-In-Fact Clause in Contracts

Appointment of Lender as Attorney-In-Fact. Borrower hereby irrevocably, unconditionally and presently constitutes Lender as Borrower’s attorney-in-fact, with full power of substitution, to be exercised by Lender only upon the occurrence and during the continuation of an Event of Default, to exercise its rights under the Pledge Agreement (in its own name or the name of a designee) for purposes of preserving and protecting the Project or the collateral pledged under the Pledge Agreement and, as Lender in its sole discretion deems necessary or proper, to execute, acknowledge (when appropriate) and deliver all instruments and documents in the name of Borrower which may be necessary or desirable in order to do any and every act which Borrower might do on its own behalf in the performance of its obligations hereunder. This power of attorney is a power coupled with an interest and is irrevocable.

Appointment of Lender as Attorney-In-Fact. Borrower Borrowers hereby irrevocably, unconditionally and presently constitutes constitute Lender as Borrower’s Borrowers’ attorney-in-fact, with full power of substitution, to be exercised by Lender only upon the occurrence and during the continuation of an Event of Default, to exercise its rights under the Pledge Agreement (in its own name or the name of a designee) for purposes of preserving and protecting the Project or the collateral pledged under the Pledge Agreement and, as Lender in its sole discretion deems necessary or proper, to execute, acknowledge (when appropriate) and deliver all instruments and documents in the name of Borrower Borrowers which may be necessary or desirable in order to do any and every act which Borrower Borrowers might do on its own behalf in the performance of its obligations hereunder. This power of attorney is a power coupled with an interest and is irrevocable.

Appointment of Lender as Attorney-In-Fact. Borrower hereby irrevocably, unconditionally and presently constitutes appoints Lender as Borrower’s attorney-in-fact, with full power of substitution, to be exercised by Lender only upon the occurrence and during the continuation of an Event of Default, to exercise its rights under the Pledge Agreement Mortgage (in its own name or the name of a designee) for purposes of preserving and protecting the Project Property or the collateral pledged under the Pledge Agreement Mortgage; and, as Lender in its sole discretion deems necessary or proper, to execute, acknowledge (when appropriate) and deliver all instruments and documents in the name of Borrower which may be necessary or desirable in order to do any and every act which Borrower might do on its own behalf in the performance of its obligations hereunderbehalf. This power of attorney is a power coupled with an interest and is irrevocable.

Appointment of Lender as Attorney-In-Fact. Borrower hereby irrevocably, unconditionally and presently constitutes Lender as Borrower’s attorney-in-fact, with full power of substitution, to be exercised by Lender only upon the occurrence and during the continuation of an Event of Default, to exercise its rights under the Pledge Agreement (in its own name or the name of a designee) for purposes of preserving and protecting the Project or the collateral pledged under the Pledge Agreement Agreement; and, as Lender in its sole discretion deems necessary or proper, to execute, acknowledge (when appropriate) and deliver all instruments and documents in the name of Borrower which may be necessary or desirable in order to do any and every act which Borrower might do on its own behalf in the performance of its obligations hereunder. This power of attorney is a power coupled with an interest and is irrevocable.

Appointment of Lender as Attorney-In-Fact. Borrower hereby irrevocably, unconditionally and presently constitutes Lender as Borrower’s attorney-in-fact, with full power of substitution, to be exercised by Lender only upon the occurrence and during the continuation of an Event of Default, to exercise its rights under the Pledge Agreement Security Instrument (in its own name or the name of a designee) for purposes of preserving and protecting the Project or the collateral pledged under the Pledge Agreement Collateral and, as Lender in its sole discretion deems necessary or proper, to execute, acknowledge (when appropriate) and deliver all instruments and documents in the name of Borrower which may be necessary or desirable in order to do any and every act which Borrower might do on its own behalf in the performance of its obligations hereunder. This power of attorney is a power coupled with an interest and is irrevocable.