APPOINTMENT OF RECEIVER AS ATTORNEY. 19.1 The Borrower hereby irrevocably appoints any and every Receiver appointed as aforesaid and his substitute or substitutes as the attorney or attorneys of the Borrower and where there are more than one, jointly and severally, and on its behalf and as its acts and deeds to execute, sign, seal and deliver and otherwise perfect any deed, assurance, agreement, instrument or act which may be required or may be deemed proper for any of the purposes set out in the preceding Clause 17 hereof and with power for such attorney or attorneys to appoint or remove any substitute or substitutes.
APPOINTMENT OF RECEIVER AS ATTORNEY. The Borrower hereby irrevocably appoints any and every Receiver appointed as aforesaid and his substitute or substitutes as the attorney or attorneys of the Borrower and where there are more than one, jointly and severally, and on its behalf and as its acts and deeds to execute, sign, seal and deliver and otherwise perfect any deed, assurance, agreement, instrument or act which may be required or may be deemed proper for any of the purposes set out in Clause 17 hereof and with power for such attorney or attorneys to appoint or remove any substitute or substitutes. APPLICATION OF MONEYS BY SIF AND/OR THE RECEIVER The net proceeds of any sale or net earnings arising from the management lease or other use of the Charged Assets or the proceeds of any insurance and any claims for damages on account of the Charged Assets of any nature whatsoever or any monies received by SIF and/or the Receiver shall be applied by SIF and/or the Receiver (as the case may be) subject to the claims of all creditors (if any) ranking in priority to this Deed:- Firstly in or towards payment of all costs, charges and expenses of and incidental to the appointment of the Receiver and the exercise by him or SIF of all or any of the powers aforesaid including the reasonable remuneration of the Receiver and all outgoings properly paid by him; Secondly in payment of the costs of realization of the Charged Assets; Thirdly in or towards payment to SIF of all interest remaining unpaid on the Total Indebtedness for the time being owing to SIF; Fourthly in or towards payment to SIF of all principal moneys and other sums due to SIF hereby secured; Fifthly any surplus shall be paid to the Borrower. Save as aforesaid SIF shall be under no liability whatsoever to the Receiver for his remuneration, costs, charges, expenses or otherwise.
