Common use of Specific Authorizations Clause in Contracts

Specific Authorizations. Except as otherwise specified in this Agreement, Administrative Agent shall have the right to exercise its sole and absolute discretion to act or not to act under the Loan Documents. Without limiting the generality of the foregoing, Administrative Agent shall have the sole and exclusive right and authority to: (i) act as the disbursing and collecting agent for the Lenders with respect to all payments and collections arising in connection with this Agreement and the Loan Documents relating to the Collateral securing the Term Loans; (ii) make any subsequent advances to the Borrower for the purposes described in this Agreement; (iii) approve or disapprove any form of Lease or other tenant Lease; (iv) execute and deliver each Collateral Document and accept delivery of each such agreement delivered by the Credit Parties; (v) act as collateral agent for the Lenders for purposes of the perfection of all security interests and Liens created by such agreements and all other purposes stated therein; (vi) take such action as is necessary or desirable to maintain the perfection and priority of the security interest and ▇▇▇▇▇ created or purported to be created by the Loan Documents; (vii) release or assign (without recourse, representation or warranty, other than representations as to title and as to no encumbrances by Administrative Agent) any or all Collateral upon payment and satisfaction in full of the Term Loans; (viii) select, engage and instruct a FIRREA-compliant appraiser with respect to any valuation of the Real Property; and (ix) enter into any so-called “pre-negotiation agreement” with any Borrower or any other Credit Party (provided that as a condition precedent to such authority, all Lenders have been given a reasonable opportunity to (A) comment on the proposed form of pre-negotiation agreement and (B) discuss such comments with Administrative Agent).

Specific Authorizations. Except as otherwise specified in this Agreement, Administrative Agent shall have the right to exercise its sole and absolute discretion to act or not to act under the Loan Documents. Without limiting the generality of the foregoing, Administrative Agent shall have the sole and exclusive right and authority to: (i) A. act as the disbursing and collecting agent for the Lenders with respect to all payments and collections arising in connection with this Agreement and the Loan Documents relating to the Collateral securing the Term Loans; (ii) B. make any subsequent advances to the Borrower for the purposes described in this Agreement; (iii) C. approve or disapprove any form of Lease real property lease agreement to which the Borrowers or other tenant LeaseCredit Parties are subject; (iv) D. execute and deliver each Collateral Document and accept delivery of each such agreement delivered by the Credit Parties; (v) E. act as collateral agent for the Lenders for purposes of the perfection of all security interests and Liens created by such agreements and all other purposes stated therein; (vi) F. take such action as is necessary or desirable to maintain the perfection and priority of the security interest and ▇▇▇▇▇ Liens created or purported to be created by the Loan Documents; (vii) G. release or assign (without recourse, representation or warranty, other than representations as to title and as to no encumbrances by Administrative Agent) any or all Collateral upon payment and satisfaction in full of the Term Loans; (viii) select, engage and instruct a FIRREA-compliant appraiser with respect to any valuation of the Real Property; and (ix) H. enter into any so-called “pre-negotiation agreement” with any Borrower or any other Credit Party (provided that as a condition precedent to such authority, all Lenders have been given a reasonable opportunity to (Ai) comment on the proposed form of pre-negotiation agreement and (Bii) discuss such comments with Administrative Agent).