PHP Sample Clauses
PHP. The Performance Security shall guarantee the full and complete the supply and delivery by PPI of the various medicines required and specified by PAGCOR and the full compliance of its warranty under paragraphs 4 and 7. The Performance Security shall remain valid until issuance of the final Certificate of Acceptance. The same may be released only after the issuance of the Certificate of Acceptance of the item, provided that there are no claims filed against the contract awardee or the surety company.
PHP. 4.1. PHP APPOINTED AS ATTORNEY-IN-FACT. Each Pledgor hereby irrevocably appoints PHP as such Pledgor's attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of Pledgor or otherwise, from time to time in PHP's reasonable discretion, to take any action and to execute any instrument which PHP may deem necessary or advisable to accomplish the purposes of this Pledge and Security Agreement, including, without limitation:
(a) To ask, demand, collect, ▇▇▇ for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral; and/or
(b) To perform any and all of the affirmative obligations and covenants of such Pledgor hereunder. Each Pledgor hereby acknowledges, consents and agrees that the power of attorney granted pursuant to this Section 4.1 is irrevocable and coupled with an interest but will terminate upon the termination of this Agreement pursuant to Section 1.5 hereof.