Common use of AUTHORITY TO PERFORM Clause in Contracts

AUTHORITY TO PERFORM. If Lessee fails to perform any duty or any covenants in any Transaction Document or other agreement related to Lessee’s business, Lessor shall be hereby authorized, without notice, to perform such duty or covenant or cause such duty or covenant to be performed. Lessee appoints Lessor as attorney-in-fact to sign Lessee’s name or pay any amount necessary for performance. Lessor’s right to perform for Lessee shall not create an obligation to perform, and Lessor’s failure to perform will not preclude Lessor from exercising any of Lessor’s other rights under the law or any Transaction Document. Any amount paid by or incurred by Lessor may be added to the principal balance of Lessee’s debt to Lessor or offset by Lessor from any funds held by Lessor or held in trust or by a third party, for Lessee’s benefit or otherwise.

AUTHORITY TO PERFORM. If Lessee fails to perform any duty or any covenants in any Transaction Document or other agreement related to Lessee’s business, Lessor shall be hereby authorized, without notice, to perform such duty or covenant or cause such duty or covenant to be performed. Lessee appoints Lessor as attorney-in-fact to sign Lessee▇▇▇▇▇▇’s name or pay any amount necessary for performance. Lessor’s right to perform for Lessee shall not create an obligation to perform, and Lessor▇▇▇▇▇▇’s failure to perform will not preclude Lessor from exercising any of Lessor’s other rights under the law or any Transaction Document. Any amount paid by or incurred by Lessor may be added to the principal balance of Lessee▇▇▇▇▇▇’s debt to Lessor or offset by Lessor from any funds held by Lessor or held in trust or by a third party, for Lessee▇▇▇▇▇▇’s benefit or otherwise.