Common use of Authorized Action by Secured Party Clause in Contracts

Authorized Action by Secured Party. (a) After the occurrence of any "Event of Default" (as defined below) and while it is continuing, Debtor hereby irrevocably appoints Secured Party as its attorney-in-fact to do (but Secured Party shall not be obligated to and shall not incur any liability to Debtor or any third party for failure so to do) any act which Debtor is obligated by this Security Agreement to do, and to exercise such rights and powers as Debtor might exercise with respect to the Collateral, including, without limitation, the right to:

Appears in 4 contracts

Samples: Security Agreement (Galvestons Steakhouse Corp), Security Agreement (3-D Geophysical Inc), Security Agreement (Consolidated Capital of North America Inc)

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Authorized Action by Secured Party. (a) After the occurrence and during the continuance of any "Event of Default" (as defined below) and while it is continuing), Debtor hereby irrevocably appoints Secured Party as its attorney-in-fact to do (but Secured Party shall not be obligated to and shall not incur any liability to Debtor or any third party for failure so to do) any act which Debtor is obligated by this Security Agreement to do, and to exercise such rights and powers as Debtor might exercise with respect to the Collateral, including, without limitation, the right to:

Appears in 4 contracts

Samples: Security Agreement (Capitol First Corp), 7 Security Agreement (U S Plastic Lumber Corp), Security Agreement (U S Plastic Lumber Corp)

Authorized Action by Secured Party. (a) After the occurrence of any "Debtor irrevocably appoints, only after an Event of Default" (, Secured Party as defined below) Debtor's attorney in fact to do any act that Debtor is obligated to do pursuant to this Agreement to preserve or protect the Collateral and while it is continuingto preserve, protect, or establish Secured Party's lien on the Collateral. Debtor hereby further irrevocably appoints Secured Party as its attorney-in-fact to do (but Secured Party shall not be obligated to and shall not incur any liability to Debtor or any third party for failure so to do) any act which Debtor is obligated by this Security Agreement to do, and to exercise such rights and powers as Debtor might exercise with respect to the CollateralCollateral following an Event of Default, including, as defined below. These powers shall include without limitation, limitation the right to:

Appears in 2 contracts

Samples: Confidential Settlement Agreement (Ipg Photonics Corp), Confidential Settlement Agreement (Ipg Photonics Corp)

Authorized Action by Secured Party. (a) After the occurrence of any "Event of Default" (as defined below) and while it is continuing, Debtor hereby irrevocably ---------------------------------- appoints Secured Party as its attorney-in-fact fact, to do (but Secured Party shall not be obligated to and shall not incur any no liability to Debtor or any third party for failure so to do) any act which Debtor is obligated by this Security Agreement to dodo upon the occurrence of an Event of Default as defined herein, and to exercise such rights and powers as Debtor might exercise with respect to the Collateral, including, including without limitation, limitation the right to:

Appears in 1 contract

Samples: Secured Credit Agreement (Advanced Micro Devices Inc)

Authorized Action by Secured Party. (a) After the occurrence and during the continuance of any "β€œEvent of Default" ” (as defined below) and while it is continuing), Debtor hereby irrevocably appoints Secured Party as its attorney-in-fact to do (but Secured Party shall not be obligated to and shall not incur any liability to Debtor or any third party for failure so to do) any act which Debtor is obligated by this Security Agreement to do, and to exercise such rights and powers as Debtor might exercise with respect to the Collateral, including, without limitation, the right to:

Appears in 1 contract

Samples: Security Agreement (A21, Inc.)

Authorized Action by Secured Party. (a) After the occurrence of any "Event of Default" (as defined below) and while it is continuing, 5.1 Debtor hereby irrevocably appoints Secured Party as its attorney-in-fact to do (but Secured Party shall not be obligated to and shall not incur any liability to Debtor or any third party for failure so to do) ), upon an Event of Default and while such Event of Default is continuing, any act which Debtor is obligated by this Security Agreement to do, and to exercise such rights and powers as Debtor might exercise with respect to the Collateral, including, without limitation, the right to:

Appears in 1 contract

Samples: Security Agreement (EV Transportation, Inc.)

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Authorized Action by Secured Party. (a) After the occurrence of any "Event of Default" (as defined below) and while it is continuing, Debtor hereby irrevocably ---------------------------------- appoints Secured Party as its attorney-in-fact to do (but Secured Party shall not be obligated to and shall not incur any no liability to Debtor or any third party for failure so to do) at any one time and from time-to-time any act which Debtor is obligated by this Security Agreement to do, and to exercise such rights and powers as Debtor might exercise with respect to the Collateral, including, including without limitation, the right to:

Appears in 1 contract

Samples: Security Agreement (Virtual Mortgage Network Inc)

Authorized Action by Secured Party. (a) After the occurrence of any "Event of Default" (as defined below) and while it is continuing, Debtor hereby irrevocably appoints Secured Party as its attorney-in-fact to do (but Secured Party shall not be obligated to and shall not incur any liability to Debtor or any third party for failure so to do) any act which Debtor is obligated by this Security Agreement to do, and to exercise such rights and powers as Debtor might exercise with respect to the Collateral, including, without limitation, the right to:

Appears in 1 contract

Samples: Security Agreement (Microtel International Inc)

Authorized Action by Secured Party. (a) After the occurrence of any "Event of Default" (as defined below) and while it is continuing, Debtor hereby irrevocably appoints ---------------------------------- Secured Party as its attorney-in-fact to do (but Secured Party shall not be obligated to and shall not incur any no liability to Debtor or any third party for failure so to do) at any one time and from time-to-time any act which Debtor is obligated by this Security Agreement to do, and to exercise such rights and powers as Debtor might exercise with respect to the Collateral, including, including without limitation, the right to:

Appears in 1 contract

Samples: Security Agreement (Virtual Mortgage Network Inc)

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