Common use of APPOINTMENT AND POWERS OF RECEIVER Clause in Contracts

APPOINTMENT AND POWERS OF RECEIVER. At any time after this security becomes enforceable the Collateral Agent may without further notice appoint in writing under the hand of its duly authorized officer any one or more Person(s) to be a receiver or receiver and manager (hereinafter each called "a Receiver") as the Collateral Agent at its sole discretion may see fit of any Security Asset in like manner in every respect as if the Collateral Agent had become entitled under this Debenture and/or under statute to exercise the power of sale thereby conferred. Every Receiver so appointed shall, in addition to any powers conferred by statute or common law, have and be entitled to exercise all rights to do any or all of the following things: