Common use of Power of Attorney and Notification Clause in Contracts

Power of Attorney and Notification. At Debtor’s expense and subject to the rights of the Secured Parties, the Collateral Agent may communicate with account debtors in order to verify with them to its satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of the Secured Parties and that payments shall be made directly to the Collateral Agent. Upon request of the Collateral Agent, Debtor will so notify such account debtors and will indicate on all xxxxxxxx to such account debtors that their accounts must be paid to the Collateral Agent. Debtor does hereby appoint the Collateral Agent and its agents as Debtor’s attorney-in-fact: to, upon an event of default hereunder, collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of Debtor; to endorse the name of Debtor upon any Note, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to Secured Parties; to sign and endorse the name of Debtor upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with Accounts, and any instrument or document relating thereto or to Debtor’s rights therein; and to give written notice to any office and officials of the United States Post Office to effect such change or changes of address that all mail addressed to Debtor may be delivered directly to the Collateral Agent. Debtor hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises as fully and effectually as Debtor might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as Debtor may be indebted to Secured Parties.

Appears in 2 contracts

Samples: Form of Security Agreement (Vendingdata Corp), Security Agreement (Vendingdata Corp)

AutoNDA by SimpleDocs

Power of Attorney and Notification. At Debtor’s Upon the occurrence and during the continuance of an Event of Default, at Borrower's expense and subject to the rights Lender in its own name or in the name of the Secured Parties, the Collateral Agent others may communicate with account debtors in order to verify with them to its Lender's satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of the Secured Parties Lender's security interest in the Collateral and that payments shall be made directly to the Collateral AgentLender. Upon request of the Collateral AgentLender, Debtor Borrower will so notify such account debtors and will indicate on all xxxxxxxx to such account debtors that their accounts must be paid to the Collateral AgentLender. Debtor Borrower does hereby appoint the Collateral Agent Lender and its agents as Debtor’s Borrower's attorney-in-factfact effective upon the occurrence and during the continuance of an Event of Default: to, upon an event of default hereunder, to execute and file any financing statements or similar documents; to collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of Debtorthe Borrower; to endorse the name of Debtor Borrower upon any Notenotes, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to Secured PartiesLender; to sign and endorse the name of Debtor Borrower upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with Accountsaccounts, and any instrument or document relating thereto or to Debtor’s Borrower's rights therein; and to give written notice to any office and officials of the United States Post Office to effect such change or changes of address that all mail addressed to Debtor Borrower may be delivered directly to the Collateral AgentLender. Debtor Borrower hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises as fully and effectually as Debtor Borrower might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest interest, is effective during the continuance of an Event of Default and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as Debtor Borrower may be indebted to Secured PartiesLender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Yahoo Inc), Loan and Security Agreement (Launch Media Inc)

Power of Attorney and Notification. At Debtor’s expense On and subject to after the rights occurrence of a Default, the Secured Parties, the Collateral Agent Party may communicate with account debtors in order to verify with them to its satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of to the Secured Parties Party and that payments shall be made directly to the Collateral AgentSecured Party. Upon request of the Collateral AgentSecured Party, Debtor will so notify such account debtors and will indicate on all xxxxxxxx to billxxxx xx such account debtors that their accounts must be paid to the Collateral AgentSecured Party. Debtor does hereby appoint the Collateral Agent Secured Party and its agents as Debtor’s 's attorney-in-fact, to be exercised from and after the occurrence of a Default: to, upon an event of default hereunder, to collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of the Debtor; to endorse the name of Debtor upon any Notenotes, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to the Secured PartiesParty; to sign and endorse the name of Debtor upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with AccountsAccounts Receivable, and any instrument or document relating 43 thereto or to Debtor’s 's rights therein; and to give written notice to any office and officials of the United States Post Office (with concurrent notice thereof to the Debtor, provided, however, that the failure to give such notice shall not affect the validity of Secured Party's action under this clause) to effect such change or changes of address that all mail addressed to Debtor may be delivered directly to the Collateral AgentSecured Party. Debtor hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises in connection with the foregoing as fully and effectually as Debtor might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as Debtor may be indebted to the Secured PartiesParty in connection with the Note.

Appears in 1 contract

Samples: Settlement Agreement (I Stat Corporation /De/)

Power of Attorney and Notification. At Debtor’s expense and subject to the rights of 's expense, the Secured Parties, Party in its own name or in the Collateral Agent name of others may communicate with account debtors in order to verify with them to its the Secured Party's satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of to the Secured Parties Party and that payments shall be made directly to the Collateral AgentSecured Party. Upon request of the Collateral AgentSecured Party, Debtor will so notify such account debtors and will indicate on all xxxxxxxx to such account debtors that their accounts must be paid to the Collateral AgentSecured Party. Debtor does hereby appoint the Collateral Agent Secured Party and its agents as Debtor’s 's attorney-in-fact: to, upon an event of default hereunder, collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of the Debtor; to endorse the name of Debtor upon any Note, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to the Secured PartiesParty; to sign and endorse the name of Debtor upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with Accounts, and any instrument or document relating thereto or to Debtor’s 's rights therein; and to give written notice to any office and officials of the United States Post Office to effect such change or changes of address that tat all mail addressed to Debtor may be delivered directly to the Collateral AgentSecured Party. Debtor hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises as fully frilly and effectually as Debtor might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as the Debtor may be indebted to the Secured PartiesParty.

Appears in 1 contract

Samples: Security Agreement (Vendingdata Corp)

Power of Attorney and Notification. At If an event of default has occurred and is continuing, at Debtor’s expense and subject to expense, Secured Party in their own name or in the rights name of the Secured Parties, the Collateral Agent others may communicate with account debtors in order to verify with them to its the Secured Party’s satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of the to Secured Parties Party and that payments shall be made directly to the Collateral AgentSecured Party. Upon If an event of default has occurred and is continuing, upon request of the Collateral AgentSecured Party, Debtor will so notify such account debtors and will indicate on all xxxxxxxx to such account debtors that their accounts must be paid to the Collateral AgentSecured Party. If an event of default has occurred and is continuing, Debtor does hereby appoint the Collateral Agent Secured Party and its agents as Debtor’s attorney-in-fact: to, upon an event of default hereunder, to collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of the Debtor; to endorse the name of Debtor upon any Notenotes, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to the Secured PartiesParty; to sign and endorse the name of Debtor upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with Accountsaccounts, and any instrument or document relating thereto or to Debtor’s rights therein; and to give written notice to any office and officials of the United States Post Office to effect such change or changes of address that all mail addressed to Debtor may be delivered directly to the Collateral AgentSecured Party. If an event of default has occurred and is continuing, Debtor hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises as fully and effectually as Debtor might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as the Debtor may be indebted to any Secured PartiesParty under the Note or the Loan Agreement.

Appears in 1 contract

Samples: Security Agreement (Fuelcell Energy Inc)

Power of Attorney and Notification. At Debtor’s expense and subject to the rights of 's expense, the Secured Parties, Party in its own name or in the Collateral Agent name of others may communicate with account debtors in order to verify with them to its the Secured Party's satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of to the Secured Parties Party and that payments shall be made directly to the Collateral AgentSecured Party. Upon request of the Collateral AgentSecured Party, Debtor will so notify such account debtors and will indicate on all xxxxxxxx to such account debtors that their accounts must be paid to the Collateral AgentSecured Party. Debtor does hereby appoint the Collateral Agent Secured Party and its agents as Debtor’s 's attorney-in-fact: to, upon an event of default hereunder, collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of the Debtor; to endorse the name of Debtor upon any Note, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to the Secured PartiesParty; to sign and endorse the name of Debtor upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with Accounts, and any instrument or document relating thereto or to Debtor’s 's rights therein; and to give written notice to any office and officials of the United States Post Office to effect such change or changes of address that all mail addressed to Debtor may be delivered directly to the Collateral AgentSecured Party. Debtor hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises as fully and effectually as Debtor might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as the Debtor may be indebted to the Secured PartiesParty.

Appears in 1 contract

Samples: Security Agreement (Vendingdata Corp)

AutoNDA by SimpleDocs

Power of Attorney and Notification. At Debtor’s expense and subject to the rights of the Secured Partiesother Lenders, the Collateral Agent Representative may communicate with account debtors in order to verify with them to its satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of the Secured Parties and that payments shall be made directly to the Collateral AgentRepresentative. Upon request of the Collateral AgentRepresentative, Debtor will so notify such account debtors and will indicate on all xxxxxxxx to such account debtors that their accounts must be paid to the Collateral AgentRepresentative. Debtor does hereby appoint the Collateral Agent Representative and its agents as Debtor’s attorney-in-fact: to, upon an event of default hereunder, collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of Debtor; to endorse the name of Debtor upon any Note, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to Secured Parties; to sign and endorse the name of Debtor upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with Accounts, and any instrument or document relating thereto or to Debtor’s rights therein; and to give written notice to any office and officials of the United States Post Office to effect such change or changes of address that all mail addressed to Debtor may be delivered directly to the Collateral AgentRepresentative. Debtor hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises as fully and effectually as Debtor might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as Debtor may be indebted to Secured Parties.

Appears in 1 contract

Samples: Form of Security Agreement (Vendingdata Corp)

Power of Attorney and Notification. At If an event of default has occurred and is continuing, at Debtor’s expense and subject to expense, Secured Party in their own name or in the rights name of the Secured Parties, the Collateral Agent others may communicate with account debtors in order to verify with them to its the Secured Party’s satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of the to Secured Parties Party and that payments shall be made directly to the Collateral AgentSecured Party. Upon If an event of default has occurred and is continuing, upon request of the Collateral AgentSecured Party, Debtor will so notify such account debtors and will indicate on all xxxxxxxx bxxxxxxx to such account debtors that their accounts must be paid to the Collateral AgentSecured Party. If an event of default has occurred and is continuing, Debtor does hereby appoint the Collateral Agent Secured Party and its agents as Debtor’s attorney-in-fact: to, upon an event of default hereunder, to collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of the Debtor; to endorse the name of Debtor upon any Notenotes, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to the Secured PartiesParty; to sign and endorse the name of Debtor upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with Accounts, and any instrument or document relating thereto or to Debtor’s rights therein; and to give written notice to any office and officials of the United States Post Office to effect such change or changes of address that all mail addressed to Debtor may be delivered directly to the Collateral AgentSecured Party. If an event of default has occurred and is continuing, Debtor hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises as fully and effectually as Debtor might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as the Debtor may be indebted to any Secured PartiesParty under the Note or the Credit Facility Agreement.

Appears in 1 contract

Samples: Security Agreement (Cadista Holdings Inc.)

Power of Attorney and Notification. At If an event of default has occurred and is continuing, at Debtor’s expense and subject to expense, Secured Party in their own name or in the rights name of the Secured Parties, the Collateral Agent others may communicate with account debtors in order to verify with them to its the Secured Party’s satisfaction the existence, amount and terms of any accounts or contract rights and also notify account debtors that Collateral has been assigned for the benefit of the to Secured Parties Party and that payments shall be made directly to the Collateral AgentSecured Party. Upon If an event of default has occurred and is continuing, upon request of the Collateral AgentSecured Party, Debtor will so notify such account debtors and will indicate on all xxxxxxxx to bixxxxxx xo such account debtors that their accounts must be paid to the Collateral AgentSecured Party. If an event of default has occurred and is continuing, Debtor does hereby appoint the Collateral Agent Secured Party and its agents as Debtor’s attorney-in-fact: to, upon an event of default hereunder, to collect, compromise, endorse, sell or otherwise deal with the Collateral or proceeds thereof in its own name or in the name of the Debtor; to endorse the name of Debtor upon any Notenotes, checks, drafts, money orders, or other instruments, documents, receipts or Collateral that may come into its possession and to apply the same in full or part payment of any amounts owing to the Secured PartiesParty; to sign and endorse the name of Debtor upon any documents, instruments, drafts against account debtors, assignments, verifications and notices in connection with Accounts, and any instrument or document relating thereto or to Debtor’s rights therein; and to give written notice to any office and officials of the United States Post Office to effect such change or changes of address that all mail addressed to Debtor may be delivered directly to the Collateral AgentSecured Party. If an event of default has occurred and is continuing, Debtor hereby grants to its said attorney-in-fact full power to do any and all things necessary to be done in and about the premises as fully and effectually as Debtor might or could do, and hereby ratifies all that its attorney-in-fact shall lawfully do or cause to be done by virtue hereof. hereof This power of attorney is coupled with an interest and is irrevocable for the term of this Agreement for all transactions hereunder and thereafter as long as the Debtor may be indebted to any Secured PartiesParty under the Note or the Credit Facility Agreement.

Appears in 1 contract

Samples: Security Agreement (Majesco)

Time is Money Join Law Insider Premium to draft better contracts faster.