Common use of Bank Appointed Attorney-in-Fact Clause in Contracts

Bank Appointed Attorney-in-Fact. Pledgor hereby irrevocably appoints the Bank Pledgor’s attorney-in-fact, with full authority in the place and stead of Pledgor and in the name of Pledgor or otherwise, from time to time in the Bank’s reasonable discretion to take any action and to execute any instrument which the Bank may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation, upon the occurrence and during the continuation of an Event of Default, to receive, indorse and collect all instruments made payable to Pledgor representing any dividend, interest payment or other distribution in respect of the Pledged Collateral or any part thereof and to give full discharge for the same.

Bank Appointed Attorney-in-Fact. Each Pledgor hereby irrevocably appoints the Bank Pledgor’s as its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor or otherwise, from time to time in the Bank’s reasonable 's sole discretion upon the occurrence and continuance of an Event of Default to take any action and to execute any instrument which the Bank may deem necessary or advisable to accomplish the purposes of this AgreementAgreement (subject to the rights of such Pledgor under Section 6), including, without limitation, upon the occurrence and during the continuation of an Event of Default, to receive, indorse and collect all instruments made payable to such Pledgor representing any dividend, interest payment or other distribution in respect of the Pledged Collateral or any part thereof and to give full discharge for the same.

Bank Appointed Attorney-in-Fact. The Pledgor hereby irrevocably appoints the Bank the Pledgor’s attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor or otherwise, from time to time in the Bank’s reasonable discretion discretion, to take any action and to execute any instrument which that the Bank may deem reasonably believe necessary or advisable to accomplish the purposes of this AgreementAgreement (subject to the rights of the Pledgor under Section 6), in a manner consistent with the terms hereof, including, without limitation, upon the occurrence and during the continuation of an Event of Default, to receive, indorse and collect all instruments made payable to the Pledgor representing any dividend, interest payment dividend or other distribution in respect of the Pledged Collateral or any part thereof and to give full discharge for the same.