Common use of Power of Attorney in Respect of the Collateral Clause in Contracts

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent were Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s possession or under Agent’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent in and to the Collateral, (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent were the outright owner of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Urgent.ly Inc.), Loan and Security Agreement (Tempo Automation Holdings, Inc.)

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Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue forxxx, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent were Lender was a Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s Lender's possession or under Agent’s Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lender's discretion to file any claim or take any other action or proceedings, either in its their own name names or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Array Biopharma Inc), Loan and Security Agreement (Array Biopharma Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower itselfBorrowers themselves, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agentsuch Lender’s possession or under Agentsuch Lender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Codexis Inc), Loan and Security Agreement (Maxygen Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue forxxx, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were a Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s Lender's possession or under Agent’s Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lender's discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Skystream Networks Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s such Lender's possession or under Agent’s such Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lender's discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Soundbite Communications Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section SECTION 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s such Lender's possession or under Agent’s such Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lender's discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Soundbite Communications Inc)

Power of Attorney in Respect of the Collateral. Borrower Each Grantor does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower such Grantor with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue sxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 5 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower a “Grantor” itself, (b) to receive payment of and to endorse the name of Borrower a Grantor to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into AgentLender’s possession or under AgentLender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower such Grantor or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Second Loan and Security Agreement (Clarient, Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Agent, on behalf of Lenders, (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue forxxx, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section SECTION 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent were a Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s 's possession or under Agent’s 's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s 's discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent or Requisite Lenders may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Agent, on behalf of Lenders, in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Agent, on behalf of Lenders, were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Webvan Group Inc)

Power of Attorney in Respect of the Collateral. Borrower Each Grantor does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower such Grantor with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower a “Grantor” itself, (b) to receive payment of and to endorse the name of Borrower a Grantor to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into AgentLender’s possession or under AgentLender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower such Grantor or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Trestle Holdings Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Collateral Agent (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent were Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Collateral Agent’s possession or under Collateral Agent’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Collateral Agent’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Collateral Agent may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Collateral Agent in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Collateral Agent were the outright owner of the Collateral.

Appears in 1 contract

Samples: Equipment Loan and Security Agreement (Beyond Meat, Inc.)

Power of Attorney in Respect of the Collateral. Borrower does ---------------------------------------------- hereby irrevocably appoint Agent each Lender on behalf of Lenders (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lenders were Borrower itselfBorrowers themselves, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s such Lender's possession or under Agent’s such Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lenders' discretion to file any claim or take any other action or proceedings, either in its their own name names or in the name of Borrower or otherwise, which Agent Lenders may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lenders in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lenders were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Copper Mountain Networks Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section SECTION 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower itselfBorrowers themselves, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s such Lender's possession or under Agent’s such Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lender's discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Alnylam Pharmaceuticals Inc)

Power of Attorney in Respect of the Collateral. Borrower Each Grantor does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower such Grantor with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 5 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower a “Grantor” itself, (b) to receive payment of and to endorse the name of Borrower a Grantor to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into AgentLender’s possession or under AgentLender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower such Grantor or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Second Loan and Security Agreement (Trestle Holdings Inc)

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Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were a Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into AgentLender’s possession or under AgentLender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Patent Mortgage and Security Agreement (Hemosense Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue sxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower itselfBorrowers themselves, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agentsuch Lender’s possession or under Agentsuch Lender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Aruba Networks, Inc.)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower itselfBorrowers themselves, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agentsuch Lender’s possession or under Agentsuch Lender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Riverbed Technology, Inc.)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were a Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s Lender's possession or under Agent’s Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lender's discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Portal Software Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section SECTION 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were a Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s Lender's possession or under Agent’s Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lender's discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (NeuroMetrix, Inc.)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue sxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into AgentLender’s possession or under AgentLender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Knightscope, Inc.)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of a Default or an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue forxxx, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section SECTION 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were a Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s Lender's possession or under Agent’s Lender's control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in Agent’s Lender's discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Vnus Medical Technologies Inc)

Power of Attorney in Respect of the Collateral. Borrower does hereby irrevocably appoint Agent Lender (which appointment is coupled with an interest) effective only on the occurrence and during the continuance of an Event of Default, the true and lawful attorney in fact of Borrower with full power of substitution, for it and in its name: (a) to ask, demand, collect, receive, receipt for, sue xxx for, compound and give acquittance for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 4 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent Lender were Borrower itself, (b) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into AgentLender’s possession or under AgentLender’s control, (c) to make all demands, consents and waivers, or take any other action with respect to, the Collateral, (d) in AgentLender’s discretion to file any claim or take any other action or proceedings, either in its own name or in the name of Borrower or otherwise, which Agent Lender may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent Lender in and to the Collateral, or (e) to sign an amendment to any Loan Document if Borrower is obligated, but fails, to do so, or (f) to otherwise act with respect thereto as though Agent Lender were the outright owner of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement

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