Common use of Secured Party Appointed Attorney-in-Fact Clause in Contracts

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable period of time to cure, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx for, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 3 contracts

Samples: Security Agreement (StrikeForce Technologies Inc.), Security Agreement (StrikeForce Technologies Inc.), Security Agreement (StrikeForce Technologies Inc.)

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Secured Party Appointed Attorney-in-Fact. Upon the occurrence and during the continuance of an Event of Default, and upon the expiration of any applicable period of time to cure, : (a) the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The ; (b) the Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx for, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To , and (c) to facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 2 contracts

Samples: Security Agreement (Radial Energy, Inc.), Security Agreement (Harvey Electronics Inc)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence and during the continuance of an Event of Default, and upon the expiration of any applicable period of time to cure, : (a) the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The ; (b) the Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on the ox xhe Pledged Property as and when the Secured Party may determine. To , and (c) to facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 2 contracts

Samples: Security Agreement (GS Cleantech Corp), Security Agreement (Gs Carbon Corp)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable period of time to cure, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's ’s discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, acknowledge, receipt for, settle, compromise, adjust, xxx for, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To facilitate collection, upon the occurrence of an Event of Default, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 2 contracts

Samples: Security Agreement (Ivoice, Inc /Nj), Security Agreement (Ivoice, Inc /Nj)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable period of time to cure, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, acknowledge, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on the Pledged Property as and when the xxe Secured Party may determine. To facilitate collection, upon the occurrence of an Event of Default, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Ivoice, Inc /De)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable period of time to cure, the Company Companies hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company Companies and in the name of the Company Companies or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company Companies representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on xx the Pledged Property as and when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Cargo Connection Logistics Holding, Inc.)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable period of time to cure, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion ’s discretion, subject to the terms of the Subordination Agreement, to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement., including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx forsux xor, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral Property to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Carbiz Inc)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon subject to the expiration rights of any applicable period of time the Senior Lenders, to curebe appointed as attorney-in-fact, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Encumbered Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on the Encumbered Pledged Property as and xxx when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Encumbered Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Swiss Medica Inc)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence and during the continuance of an Event of Default, and upon the expiration of any applicable period of time to cure, : (a) the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's ’s discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The ; (b) the Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx for, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To ; and (c) to facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Pacific Gold Corp)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon provided nothing herein contradicts the expiration of any applicable period of time to cureSecurity Agreement dated April 1, the 2005, Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on xx the Pledged Property as and when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Hybrid Fuel Systems)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable period of time to cure, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, acknowledge, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on the Pledged Property as and when the xxx Secured Party may determine. To facilitate collection, upon the occurrence of an Event of Default, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Thomas Pharmaceuticals, Ltd.)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration until such Event of any applicable period of time to cureDefault is cured, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's ’s discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx for, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (I2 Telecom International Inc)

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Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable period of time to cure, the The Company hereby irrevocably appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, upon the occurrence of an Event of Default, and from time to time thereafter in the Secured Party's ’s discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The above power of attorney is irrevocable and coupled with an interest. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx for, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Airbee Wireless, Inc.)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence and during the continuance of an Event of Default, and upon the expiration of any applicable period of time to cure, : (a) the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The ; (b) the Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on the Pledged Property as and when the txx Secured Party may determine. To , and (c) to facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Radial Energy, Inc.)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable period of time to cure, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's ’s discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, acknowledge, receipt for, settle, compromise, adjust, xxx sxx for, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To facilitate collection, upon the occurrence of an Event of Default, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (SpeechSwitch, Inc.)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon the expiration of any applicable which continues uncured for a period of time to cureten (10) business days, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on xx the Pledged Property as and when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Homeland Security Capital CORP)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence and during the continuance of an Event of Default, and upon the expiration of any applicable period of time to cure, : (a) the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The ; (b) the Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on ox the Pledged Property as and when the Secured Party may determine. To , and (c) to facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Locateplus Holdings Corp)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence of an Event of Default, and upon provided nothing herein contradicts the expiration Bank of any applicable period of time to cureAmerica Loan, the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral or any part thereof and to give full discharge for the same. The Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx for, foreclose, or realize on the Pledged Property as and when the Secured Party may determine. To facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (Union Dental Holdings, Inc.)

Secured Party Appointed Attorney-in-Fact. Upon the occurrence and during the continuance of an Event of Default, and upon the expiration of any applicable period of time to cure, : (a) the Company hereby appoints the Secured Party as its attorney-in-fact, with full authority in the place and stead of the Company and in the name of the Company or otherwise, from time to time in the Secured Party's discretion to take any action and to execute any instrument which the Secured Party may reasonably deem necessary to accomplish the purposes of this Agreement, including, without limitation, to receive and collect all instruments made payable to the Company representing any payments in respect of the Pledged Collateral Property or any part thereof and to give full discharge for the same. The ; (b) the Secured Party may demand, collect, receipt for, settle, compromise, adjust, xxx sue for, foreclose, or realize on the Pledged Property as and when the xxx Secured Party may determine. To , and (c) to facilitate collection, the Secured Party may notify account debtors and obligors on any Pledged Property or Pledged Collateral to make payments directly to the Secured Party.

Appears in 1 contract

Samples: Security Agreement (U.S. Helicopter CORP)

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