Common use of APPOINTMENT AND POWERS OF RECEIVER Clause in Contracts

APPOINTMENT AND POWERS OF RECEIVER. (a) At any time after the security hereby created has become enforceable, or if requested by the Mortgagor, the Security Trustee may in writing either under seal or under the hand of a duly authorised officer of the Security Trustee, appoint any person or persons to be a Receiver of the Collateral and may from time to time fix its or their remunerations and may remove any Receiver so appointed and appoint another in its place. Where more than one Receiver is so appointed, any reference in this Deed to a Receiver shall apply to both or all of the Receivers so appointed and the appointment shall be deemed to be a joint and several appointment so that the rights, powers, duties and discretions vested in the Receiver may be exercised jointly by the Receivers so appointed or severally by each of them.

APPOINTMENT AND POWERS OF RECEIVER. (a) At any time after the security hereby created has become enforceable, or if requested by the any Mortgagor, the Security Trustee may in writing either under seal or under the hand of a duly authorised officer of the Security Trustee, appoint any person or persons to be a Receiver of the Collateral and may from time to time fix its or their remunerations and may remove any Receiver so appointed and appoint another in its place. Where more than one Receiver is so appointed, any reference in this Deed to a Receiver shall apply to both or all of the Receivers so appointed and the appointment shall be deemed to be a joint and several appointment so that the rights, powers, duties and discretions vested in the Receiver may be exercised jointly by the Receivers so appointed or severally by each of them.