| Commentary

33.3 Irrevocable power of attorney

| Commentary

33.3 Irrevocable power of attorney

If it may become vital that a party takes particular action at some time in the future, that party may be asked, as security for its undertaking to perform those acts, to give an irrevocable power of attorney to the other party to perform those acts in the event of failure to do so within a certain time, and to agree to be bound by actions taken under that power:

‘In the event that A shall have failed within 14 days from receipt of a written request from B to do any such act or execute

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