Document:

Unassociated Document

    
      

    

    
      Exhibit
10.16

       

       

      POWER
OF ATTORNEY

       

       

      

       

      QUALYTEXTIL S/A, A company
duly organized and existing in accordance with the laws of Brazil, with its
registered office in the City of Salvador, State of Bahia, at Rua Luxemburgo,
s/no, Loteamento Granjas Rurais, Presidente Vargas, Quadra O, Lotes 82 and 83,
São Caetano, Brazil, enrolled with the Brazilian Taxpayers Roll of the Ministry
of Finance (CNPJ/MF) under no. 04.011.170/0001-22, herein duly represented IN
ACCORDANCE WITH ITS Charter Documents, together with its successors and
permitted assigns (the “Qualytextil”) hereby irrevocably and irreversibly
appoints WACHOVIA BANK,
duly organized and existing in accordance with the laws of New York, with its
registered office at 12 East 49th Street, 20th Floor, New York, New
York  10017, represented in accordance with its corporate documents
(the “Bank”), as its attorney-in-fact to act in its name and place, with the
following powers:

       

      

      
        	
                (a)

              	
                upon
      the occurrence of an Event of Default which is continuing (as defined in
      the Credit Agreement), to sell, assign, transfer or in any other way
      dispose of all or part of the Equipment pledged to the Bank pursuant to
      the Equipment Pledge and Security Agreement entered into between the Bank
      and Qualytextil on May 13, 2008 (as from time to time amended, the “Equipment Pledge and
      Security Agreement”), at market prices and upon market terms and
      conditions and subject to applicable law irrespective of any prior or
      subsequent notice to Qualytextil with respect thereto, in accordance with
      the provisions set forth in the Equipment Pledge and Security Agreement
      and in Article 1,433, Item IV, and Article 1,435, Item V, of the Brazilian
      Civil Code, and apply the proceeds thus received for the payment of the
      Secured Obligations the due and unpaid as well for the payment or
      reimbursement of all other costs and expenses incurred as a result of such
      sale, being vested with all necessary powers incidental thereto,
      including, without limitation, the power and authority to execute transfer
      documents, including discharge documentation with respect to the
      Equipment, to purchase foreign currency and make all remittances abroad,
      to sign any necessary foreign exchange contract with financial
      institutions in Brazil that may be required to such remittances and to
      represent the Grantor before the Central Bank of Brazil, financial
      institutions, private and public law legal entities and any Brazilian
      governmental authority when necessary to accomplish the purpose of the
      Equipment Pledge and Security Agreement;
and

              

      

      

      
        	
              	
                (b)

              	
                upon
      the occurrence of an Event of Default which is continuing, to take any
      action and to execute and deliver any instrument consistent with the terms
      of the as deemed necessary or advisable to accomplish the purpose of the
      Equipment Pledge and Security
Agreement.

              

      

       

      Any
notice by the Bank that at such time an Event of Default has occurred and is
continuing shall be conclusive against Qualytextil and all other third parties.
Capitalized terms used, but not defined herein, shall have the meaning ascribed
to them in the Credit Agreement and/or in the Equipment Pledge and Security
Agreement.

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

       

      The
powers granted herein are in addition to the powers granted by the Bank in the
Equipment Pledge and Security Agreement and not to cancel or revoke any of such
powers. This power of attorney is irrevocable and is granted as a condition to
the Equipment Pledge and Security Agreement and as a means to comply with the
obligations set forth therein, in accordance with the Article 684 and the sole
paragraph of Article 686 of the Brazilian Civil Code, and shall be valid and
effective until The Bank has receives full payment of the obligations secured by
the Equipment Pledge and Security Agreement to its satisfaction. The Bank may
delegate the power granted through this power of attorney.

       

      Qualytextil
has caused its duly authorizes representatives to execute this power of attorney
on May 13, 2008.

      

       

      QUALYTEXTIL
S/A

       

      

      
        	
                By:
      /s/ Miguel G.
      Bastos

              	 
      	
                By:
      /s/ Elder Marcos
      Vieira da Conceicao

              
	
                Name:
      Miguel G. Bastos

              	 
      	
                Name:
      Elder Marcos Vieira da Conceicao

              
	
                Title:
      CFO

              	 
      	
                Title:
      CEO

              

      

       

    

     

    2Unassociated Document

    
      

    

    
      Exhibit
10.17

       

       

      POWER
OF ATTORNEY

       

       

      QUALYTEXTIL S/A, A company
duly organized and existing in accordance with the laws of Brazil, with its
registered office in the City of Salvador, State of Bahia, at Rua Luxemburgo,
s/no, Loteamento Granjas Rurais, Presidente Vargas, Quadra O, Lotes 82 and 83,
São Caetano, Brazil, enrolled with the Brazilian Taxpayers Roll of the Ministry
of Finance (CNPJ/MF) under no. 04.011.170/0001-22, herein duly represented in
accordance with its Charter Documents, together with its successors and
permitted assigns (the “Qualytextil”) hereby irrevocably and irreversibly
appoints WACHOVIA BANK,
duly organized and existing in accordance with the laws of New York, with its
registered office at 12 East 49th Street, 20th Floor, New York, New
York  10017, represented in accordance with its corporate documents
(the “Bank”), as its attorney-in-fact to act in its name and place, with the
following powers:

       

      

      
        	
                (a)

              	
                upon
      the occurrence of an Event of Default which is continuing (as defined in
      the Credit Agreement), to sell, assign, transfer or in any other way
      dispose of all or part of the Inventory pledged to the Bank pursuant to
      the Inventory Pledge and Security Agreement entered into between the Bank
      and Qualytextil on May 13, 2008 (as from time to time amended, the “Inventory Pledge and
      Security Agreement”), at market prices and upon market terms and
      conditions and subject to applicable law irrespective of any prior or
      subsequent notice to Qualytextil with respect thereto, in accordance with
      the provisions set forth in the Inventory Pledge and Security Agreement
      and in Article 1,433, Item IV, and Article 1,435, Item V, of the Brazilian
      Civil Code, and apply the proceeds thus received for the payment of the
      Secured Obligations the due and unpaid as well for the payment or
      reimbursement of all other costs and expenses incurred as a result of such
      sale, being vested with all necessary powers incidental thereto,
      including, without limitation, the power and authority to execute transfer
      documents, including discharge documentation with respect to the
      Inventory, to purchase foreign currency and make all remittances abroad,
      to sign any necessary foreign exchange contract with financial
      institutions in Brazil that may be required to such remittances and to
      represent the Grantor before the Central Bank of Brazil, financial
      institutions, private and public law legal entities and any Brazilian
      governmental authority when necessary to accomplish the purpose of the
      Inventory Pledge and Security Agreement;
and

              

      

      

      
        	
              	
                (b)

              	
                upon
      the occurrence of an Event of Default which is continuing, to take any
      action and to execute and deliver any instrument consistent with the terms
      of the as deemed necessary or advisable to accomplish the purpose of the
      Inventory Pledge and Security
Agreement.

              

      

       

      Any
notice by the Bank that at such time an Event of Default has occurred and is
continuing shall be conclusive against Qualytextil and all other third parties.
Capitalized terms used, but not defined herein, shall have the meaning ascribed
to them in the Credit Agreement and/or in the Inventory Pledge and Security
Agreement.

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

       

      The
powers granted herein are in addition to the powers granted by the Bank in the
Inventory Pledge and Security Agreement and not to cancel or revoke any of such
powers. This power of attorney is irrevocable and is granted as a condition to
the Inventory Pledge and Security Agreement and as a means to comply with the
obligations set forth therein, in accordance with the Article 684 and the sole
paragraph of Article 686 of the Brazilian Civil Code, and shall be valid and
effective until The Bank has receives full payment of the obligations secured by
the Inventory Pledge and Security Agreement to its satisfaction. The Bank may
delegate the power granted through this power of attorney.

       

      Qualytextil
has caused its duly authorizes representatives to execute this power of attorney
on May 13, 2008.

      

      

      QUALYTEXTIL
S/A

       

      

      
        	
                By:
      /s/ Miguel G.
      Bastos

              	 
      	
                By:
      /s/ Elder Marcos
      Vieira da Conceicao

              
	
                Name:
      Miguel G. Bastos

              	 
      	
                Name:
      Elder Marcos Vieira da Conceicao

              
	
                Title:
      CFO

              	 
      	
                Title:
      CEO

              

      

       

    

     

    2

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