Common use of Authorization for Lender to Take Certain Action Clause in Contracts

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file any financing statement with respect to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's security interest in the Collateral, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit Agreement), (v) to contact Account Debtors for any reason, (vi) to demand payment or enforce payment of the Receivables in the name of the Lender or the Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (vii) to sign the Grantor's name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, assignments and verifications of Receivables, (viii) to exercise all of the Grantor's rights and remedies with respect to the collection of the Receivables and any other Collateral, (ix) to settle, adjust, compromise, extend or renew the Receivables, (x) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xi) to prepare, file and sign the Grantor's name on a proof of claim in bankruptcy or similar document against any Account Debtor of the Grantor, (xii) to prepare, file and sign the Grantor's name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiii) to change the address for delivery of mail addressed to the Grantor to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the Grantor, and (xiv) to do all other acts and things necessary to carry out this Security Agreement; and the Grantor agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Mam Software Group, Inc.)

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Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Each Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact upon the occurrence and during the continuance of an Event of Default (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file any financing statement with respect to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's ’s security interest in the Collateral, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit Agreement), (v) to contact Account Debtors for any reason, (vi) to demand payment or enforce payment of the Receivables in the name of the Lender or the such Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (vii) to sign the such Grantor's ’s name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, assignments and verifications of Receivables, (viii) to exercise all of the such Grantor's ’s rights and remedies with respect to the collection of the Receivables and any other Collateral, (ix) to settle, adjust, compromise, extend or renew the Receivables, (x) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xi) to prepare, file and sign the such Grantor's ’s name on a proof of claim in bankruptcy or similar document against any Account Debtor of the such Grantor, (xii) to prepare, file and sign the such Grantor's ’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiii) to change the address for delivery of mail addressed to the such Grantor to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the such Grantor, and (xiv) to do all other acts and things necessary to carry out this Security Agreement; and the such Grantor agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the such Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Arotech Corp)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Each Grantor irrevocably authorizes the Lender Secured Party at any time and from time to time in the sole discretion of the Lender Secured Party and appoints the Lender Secured Party as its attorney-in-attorney in fact (i) to execute on behalf of such Grantor as debtor and to file financing statements necessary or desirable in the Secured Party's sole discretion to perfect and to maintain the perfection and priority of the Secured Party's security interest in the Collateral, (ii) to endorse and collect any cash proceeds of the Collateral, (iiiii) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender Secured Party in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the LenderSecured Party's security interest in the Collateral, (iiiiv) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Secured Party Control over such Pledged Collateral, (ivv) to apply the proceeds of any Collateral received by the Secured Party to the Indebtedness as provided in Section 7.1, (vi) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that as are specifically permitted under Section 6.02 of the Credit Agreementhereunder), (vvii) to contact Account Debtors for any reason, (viviii) to demand payment or enforce payment of the Receivables in the name of the Lender Secured Party or the such Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (viiix) to sign the such Grantor's name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, assignments and verifications of Receivables, (viiix) to exercise all of the such Grantor's rights and remedies with respect to the collection of the Receivables and any other Collateral, (ixxi) to settle, adjust, compromise, extend or renew the Receivables, (xxii) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xixiii) to prepare, file and sign the such Grantor's name on a proof of claim in bankruptcy or similar document against any Account Debtor of the such Grantor, (xiixiv) to prepare, file and sign the such Grantor's name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiiixv) to change the address for delivery of mail addressed to the such Grantor to such address as the Lender Secured Party may designate and to receive, open and dispose of all mail addressed to the such Grantor, and (xivxvi) to do all other acts and things necessary to carry out this Security Agreement; and the such Grantor agrees to reimburse the Lender Secured Party on demand for any payment made or any expense incurred by the Lender Secured Party in connection with any of the foregoing; provided that, this authorization shall not relieve the such Grantor of any of its obligations under this Security Agreement, the Credit Agreement or under the Credit Agreementany other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Synergy Resources Corp)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Each Grantor irrevocably authorizes the Lender Administrative Agent at any time and from time to time in the sole discretion of the Lender Administrative Agent and appoints the Lender Administrative Agent as its attorney-in-attorney in fact (i) to execute on behalf of such Grantor as debtor and to file financing statements necessary or desirable in the Administrative Agent’s sole discretion to perfect and to maintain the perfection and priority of the Administrative Agent’s security interest in the Collateral, (ii) to endorse and collect any cash proceeds of the Collateral, (iiiii) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender Administrative Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's Administrative Agent’s security interest in the Collateral, (iiiiv) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Administrative Agent Control over such Pledged Collateral, (ivv) to apply the proceeds of any Collateral received by the Administrative Agent to the Secured Obligations as provided in Section 7.3, (vi) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that as are specifically permitted under Section 6.02 of the Credit Agreementhereunder), (vvii) to contact Account Debtors for any reason, (viviii) to demand payment or enforce payment of the Receivables in the name of the Lender Administrative Agent or the such Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (viiix) to sign the such Grantor's ’s name on any invoice or xxxx bxxx of lading relating to the Receivables, drafts against any Account Debtor of the such Grantor, assignments and verifications of Receivables, (viiix) to exercise all of the such Grantor's ’s rights and remedies with respect to the collection of the Receivables and any other Collateral, (ixxi) to settle, adjust, compromise, extend or renew the Receivables, (xxii) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xixiii) to prepare, file and sign the such Grantor's ’s name on a proof of claim in bankruptcy or similar document against any Account Debtor of the such Grantor, (xiixiv) to prepare, file and sign the such Grantor's ’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiiixv) to change the address for delivery of mail addressed to the such Grantor to such address as the Lender Administrative Agent may designate and to receive, open and dispose of all mail addressed to the such Grantor, and (xivxvi) to do all other acts and things necessary to carry out exercise or enforce their rights under this Security Agreement; and the such Grantor agrees to reimburse the Lender Administrative Agent on demand for any payment made or any expense incurred by the Lender Administrative Agent in connection with any of the foregoing; provided that, this authorization shall not relieve the such Grantor of any of its obligations under this Security Agreement or under the Credit Agreementany other Loan Document.

Appears in 1 contract

Samples: Pledge and Security Agreement (Techteam Global Inc)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Grantor Borrower irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file any financing statement with respect to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's security interest in the Collateral, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit Agreement), (v) to contact Account Debtors for any reason, (vi) to demand payment or enforce payment of the Receivables in the name of the Lender or the Grantor Borrower and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (vii) to sign the GrantorBorrower's name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the GrantorBorrower, assignments and verifications of Receivables, (viii) to exercise all of the GrantorBorrower's rights and remedies with respect to the collection of the Receivables and any other Collateral, (ix) to settle, adjust, compromise, extend or renew the Receivables, (x) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xi) to prepare, file and sign the GrantorBorrower's name on a proof of claim in bankruptcy or similar document against any Account Debtor of the GrantorBorrower, (xii) to prepare, file and sign the GrantorBorrower's name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiii) to change the address for delivery of mail addressed to the Grantor Borrower to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the GrantorBorrower, and (xiv) to do all other acts and things necessary to carry out this Security Agreement; and the Grantor Borrower agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the Grantor Borrower of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Mam Software Group, Inc.)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Grantor The Borrower irrevocably authorizes the Lender at any time and from time to time Lender, in the sole reasonable discretion of the Lender and appoints the Lender as its attorney-in-attorney in fact (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file apply the proceeds of any financing statement with respect Collateral received by the Lender to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) Secured Obligations as provided in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's security interest in the CollateralSection 7.3, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that as are specifically permitted under Section 6.02 of the Credit Agreementhereunder), (viv) to contact Account Debtors for any reason, (viv) to demand payment or enforce payment of the Receivables in the name of the Lender or the Grantor Borrower and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (viivi) to sign the Grantor's Borrower’s name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the GrantorBorrower, assignments and verifications of Receivables, (viiivii) to exercise all of the Grantor's Borrower’s rights and remedies with respect to the collection of the Receivables and any other Collateral, (ixviii) to settle, adjust, compromise, extend or renew the Receivables, (xix) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xix) to prepare, file and sign the Grantor's Borrower’s name on a proof of claim in bankruptcy or similar document against any Account Debtor of the GrantorBorrower, (xiixi) to prepare, file and sign the Grantor's Borrower’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiiixii) to change the address for delivery of mail addressed to the Grantor Borrower to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the GrantorBorrower, and (xivxiii) to do all other acts and things necessary to carry out this Security Agreement; and the Grantor Borrower agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the Grantor Borrower of any of its obligations under this Security Agreement or under the Credit Agreementany other Collateral Document.

Appears in 1 contract

Samples: Security Agreement (Caraco Pharmaceutical Laboratories LTD)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file any financing statement with respect to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's ’s security interest in the Collateral, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit Agreement), (v) to contact Account Debtors for any reason, (vi) to demand payment or enforce payment of the Receivables in the name of the Lender or the Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (vii) to sign the Grantor's name on any invoice or xxxx bxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, assignments and verifications of Receivables, (viii) to exercise all of the Grantor's rights and remedies with respect to the collection of the Receivables and any other Collateral, (ix) to settle, adjust, compromise, extend or renew the Receivables, (x) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xi) to prepare, file and sign the Grantor's name on a proof of claim in bankruptcy or similar document against any Account Debtor of the Grantor, (xii) to prepare, file and sign the Grantor's name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiii) to change the address for delivery of mail addressed to the Grantor to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the Grantor, and (xiv) to do all other acts and things necessary to carry out this Security Agreement; and the Grantor agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Mam Software Group, Inc.)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Grantor Borrower irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file any financing statement with respect to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's ’s security interest in the Collateral, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit Agreement), (v) to contact Account Debtors for any reason, (vi) to demand payment or enforce payment of the Receivables in the name of the Lender or the Grantor Borrower and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (vii) to sign the GrantorBorrower's name on any invoice or xxxx bxxx of lading relating to the Receivables, drafts against any Account Debtor of the GrantorBorrower, assignments and verifications of Receivables, (viii) to exercise all of the GrantorBorrower's rights and remedies with respect to the collection of the Receivables and any other Collateral, (ix) to settle, adjust, compromise, extend or renew the Receivables, (x) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xi) to prepare, file and sign the GrantorBorrower's name on a proof of claim in bankruptcy or similar document against any Account Debtor of the GrantorBorrower, (xii) to prepare, file and sign the GrantorBorrower's name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiii) to change the address for delivery of mail addressed to the Grantor Borrower to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the GrantorBorrower, and (xiv) to do all other acts and things necessary to carry out this Security Agreement; and the Grantor Borrower agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the Grantor Borrower of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Mam Software Group, Inc.)

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Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Each Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file any financing statement with respect to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's ’s security interest in the Collateral, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit Agreement), (v) to contact Account Debtors for any reason, (vi) to demand payment or enforce payment of the Receivables in the name of the Lender or the such Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (vii) to sign the such Grantor's ’s name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, assignments and verifications of Receivables, (viii) to exercise all of the such Grantor's ’s rights and remedies with respect to the collection of the Receivables and any other Collateral, (ix) to settle, adjust, compromise, extend or renew the Receivables, (x) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xi) to prepare, file and sign the such Grantor's ’s name on a proof of claim in bankruptcy or similar document against any Account Debtor of the such Grantor, (xii) to prepare, file and sign the such Grantor's ’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiii) to change the address for delivery of mail addressed to the such Grantor to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the such Grantor, and (xiv) to do all other acts and things necessary to carry out this Security Agreement; and the such Grantor agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the such Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Franklin Covey Co)

Authorization for Lender to Take Certain Action. (a) Except Subject in the each case of subpart to applicable law and limitations with respect to Government Receivables and clause (iib) hereofbelow, upon the occurrence and continuance of an Event of Default, the each Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file any financing statement with respect to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's ’s security interest in the Collateral, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit Agreement), (v) to contact Account Debtors for any reason, (vi) to demand payment or enforce payment of the Receivables in the name of the Lender or the such Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (vii) subject to applicable law, to sign the such Grantor's ’s name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, assignments (if such Receivable is a Non-Government Receivable) and verifications of Receivables, (viii) to exercise all of the such Grantor's ’s rights and remedies with respect to the collection of the Receivables and any other Collateral, (ix) to settle, adjust, compromise, extend or renew the Receivables, (x) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xi) to prepare, file and sign the such Grantor's ’s name on a proof of claim in bankruptcy or similar document against any Account Debtor of the such Grantor, (xii) to prepare, file and sign the such Grantor's ’s name on any notice of Lien, assignment (if such Receivable is a Non-Government Receivable) or satisfaction of Lien or similar document in connection with the Receivables, (xiii) to change the address for delivery of mail addressed to the such Grantor to such address as the Lender may designate and to receive, receive and open and dispose of all mail addressed to the such Grantor, and (xiv) to do all other acts and things necessary to carry out this Security Agreement; and the such Grantor agrees to reimburse the Lender on demand for any reasonable payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the such Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (InfuSystem Holdings, Inc)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Each Grantor irrevocably authorizes the Lender Administrative Agent at any time and from time to time in the sole discretion of the Lender Administrative Agent and appoints the Lender Administrative Agent as its attorney-in-attorney in fact (i) to execute on behalf of such Grantor as debtor and to file financing statements necessary or desirable in the Administrative Agent's sole discretion to perfect and to maintain the perfection and priority of the Administrative Agent's security interest in the Collateral, (ii) to endorse and collect any cash proceeds of the Collateral, (iiiii) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender Administrative Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the LenderAdministrative Agent's security interest in the Collateral, (iiiiv) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Administrative Agent Control over such Pledged Collateral, (ivv) to apply the proceeds of any Collateral received by the Administrative Agent to the Indebtedness as provided in Section 7.1, (vi) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that as are specifically permitted under Section 6.02 of the Credit Agreementhereunder), (vvii) to contact Account Debtors for any reason, (viviii) to demand payment or enforce payment of the Receivables in the name of the Lender Administrative Agent or the such Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (viiix) to sign the such Grantor's name on any invoice or xxxx bxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, assignments and verifications of Receivables, (viiix) to exercise all of the such Grantor's rights and remedies with respect to the collection of the Receivables and any other Collateral, (ixxi) to settle, adjust, compromise, extend or renew the Receivables, (xxii) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xixiii) to prepare, file and sign the such Grantor's name on a proof of claim in bankruptcy or similar document against any Account Debtor of the such Grantor, (xiixiv) to prepare, file and sign the such Grantor's name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiiixv) to change the address for delivery of mail addressed to the such Grantor to such address as the Lender Administrative Agent may designate and to receive, open and dispose of all mail addressed to the such Grantor, and (xivxvi) to do all other acts and things necessary to carry out this Security Agreement; and the such Grantor agrees to reimburse the Lender Administrative Agent on demand for any payment made or any expense incurred by the Lender Administrative Agent in connection with any of the foregoing; provided that, this authorization shall not relieve the such Grantor of any of its obligations under this Security Agreement, the Credit Agreement or under the Credit Agreementany other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Synergy Resources Corp)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Each Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-attorney in fact (i) to execute on behalf of such Grantor as debtor and to file financing statements necessary or desirable in the Lender’s sole discretion to perfect and to maintain the perfection and priority of the Lender’s security interest in the Collateral, (ii) to endorse and collect any cash proceeds of the Collateral, (iiiii) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's ’s security interest in the Collateral, (iiiiv) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (ivv) to apply the proceeds of any Collateral received by the Lender to the Secured Obligations as provided in Section 7.3, (vi) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit AgreementPermitted Encumbrances), (vvii) to contact Account Debtors for any reason, (viviii) from and after the occurrence of an Event of Default, to demand payment or enforce payment of the Receivables in the name of the Lender or the Grantor and such Grantor, (ix) to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables or to verify Receivables, (viix) from and after the occurrence of an Event of Default, to sign the such Grantor's ’s name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, and assignments and verifications of Receivables, (viiixi) from and after the occurrence of an Event of Default, to exercise all of the such Grantor's ’s rights and remedies with respect to the collection of the Receivables and any other Collateral, (ixxii) from and after the occurrence of an Event of Default, to settle, adjust, compromise, extend or renew the Receivables, (xxiii) from and after the occurrence of an Event of Default, to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xixiv) to prepare, file and sign the such Grantor's ’s name on a proof of claim in bankruptcy or similar document against any Account Debtor of the such Grantor, (xiixv) to prepare, file and sign the such Grantor's ’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiiixvi) from and after the occurrence of an Event of Default, to change the address for delivery of mail addressed to the such Grantor to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the such Grantor, and (xivxvi) to do all other acts and things necessary to carry out this Security Agreement; and the such Grantor agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the such Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Par Technology Corp)

Authorization for Lender to Take Certain Action. (a) Except in the case of subpart (ii) hereof, upon the occurrence and continuance of an Event of Default, the Each Grantor irrevocably authorizes the Lender at any time and from time to time in the sole discretion of the Lender and appoints the Lender as its attorney-in-fact fact, at any time upon the occurrence and during the continuance of any Event of Default, (i) to endorse and collect any cash proceeds of the Collateral, (ii) to file any financing statement with respect to the Collateral and to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Lender in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Lender's ’s security interest in the Collateral, (iii) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Pledged Collateral or with securities intermediaries holding Pledged Collateral as may be necessary or advisable to give the Lender Control over such Pledged Collateral, (iv) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens that are permitted under Section 6.02 of the Credit Agreement), (v) to contact Account Debtors for any reasonreason provided in, and subject to the requirements of, Section 6.1, (vi) to demand payment or enforce payment of the Receivables in the name of the Lender or the such Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (vii) to sign the such Grantor's ’s name on any invoice or xxxx of lading relating to the Receivables, drafts against any Account Debtor of the Grantor, assignments and verifications of Receivables, (viii) to exercise all of the such Grantor's ’s rights and remedies with respect to the collection of the Receivables and any other Collateral, (ix) to settle, adjust, compromise, extend or renew the Receivables, (x) to settle, adjust or compromise any legal proceedings brought to collect Receivables, (xi) to prepare, file and sign the such Grantor's ’s name on a proof of claim in bankruptcy or similar document against any Account Debtor of the such Grantor, (xii) to prepare, file and sign the such Grantor's ’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (xiii) to change the address for delivery of mail addressed to the such Grantor to such address as the Lender may designate and to receive, open and dispose of all mail addressed to the such Grantor, and (xiv) to do all other reasonable acts and things necessary to carry out this Security Agreement; and the such Grantor agrees to reimburse the Lender on demand for any payment made or any expense incurred by the Lender in connection with any of the foregoing; provided that, this authorization shall not relieve the such Grantor of any of its obligations under this Security Agreement or under the Credit Agreement.

Appears in 1 contract

Samples: Trademark Security Agreement (Rand Worldwide Inc)

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