Common use of Authorization to Execute Security Documents Clause in Contracts

Authorization to Execute Security Documents. The Collateral Agent is hereby authorized by the Administrative Agent (on behalf of each Lender) to, and hereby agrees to, execute and deliver each of the Security Documents requiring execution and delivery by it and to accept delivery from the Borrower of those Security Documents which do not require the Collateral Agent’s execution.

Authorization to Execute Security Documents. The Collateral Agent is hereby authorized by the Administrative Agent (on behalf of each Lender) to, and hereby agrees to, directed to execute and deliver each of the Security Documents delivered to it by the Administrative Agent requiring execution and delivery by it and to shall accept delivery from the Borrower each Grantor of those Security Documents which do not require the Collateral Agent’s execution.