Effect of Appointment of Receiver. As soon as the Agent takes possession of any Collateral or appoints a Receiver, all powers, functions, rights and privileges of the Debtor including, without limitation, any such powers, functions, rights and privileges which have been delegated to directors, officers of the Debtor or committees with respect to such Collateral will cease, unless specifically continued by the written consent of the Agent or the Receiver.
Appears in 7 contracts
Samples: Indenture (Bellatrix Exploration Ltd.), Supplemental Indenture (Bellatrix Exploration Ltd.), Note Purchase Agreement (Bellatrix Exploration Ltd.)
Effect of Appointment of Receiver. As soon as the Agent takes possession of any Collateral or appoints a ReceiverReceiver to do so, all powers, functions, rights and privileges of the Debtor including, without limitation, any such powers, functions, rights and privileges which have been delegated to directors, officers of the Debtor or committees with respect to such Collateral will cease, unless specifically continued by the written consent of the Agent or the ReceiverAgent.
Appears in 2 contracts
Samples: Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.)
Effect of Appointment of Receiver. As soon as the Agent takes possession of any Collateral on behalf of the Investors or appoints a Receiver, all powers, functions, rights and privileges of the Debtor including, without limitation, any such powers, functions, rights directors and privileges which have been delegated to directors, officers of the Debtor or committees Borrower with respect to such the Collateral will ceaseceases, unless specifically continued by the written consent of the Agent or the Receiver.
Appears in 2 contracts
Samples: General Security Agreement (Unity Wireless Corp), General Security Agreement (Unity Wireless Corp)
Effect of Appointment of Receiver. As soon as the Agent Holder takes possession of any Collateral or appoints a Receiver, all powers, functions, rights and privileges of the Debtor including, without limitation, any such powers, functions, rights and privileges which have been delegated to directors, officers of the Debtor or committees with respect to such Collateral will cease, unless specifically continued by the written consent of the Agent Holder or the Receiver.
Appears in 1 contract
