Common use of Guaranteed Party Clause in Contracts

Guaranteed Party. as Guarantor's Attorney-in-Fact. Each Guarantor irrevocably appoints Guaranteed Party as such Guarantor's attorney-in-fact, with full authority in the place and stead and name of such Guarantor, from time to time at Guaranteed Party's discretion but only following the occurrence and during the continuation of a Default, to take any action and to execute any instrument which Guaranteed Party may, in accordance with the provisions of the Credit Documents or this Agreement, require as necessary or advisable to accomplish the purposes of this Agreement.