Common use of ENTRY INTO POSSESSION Clause in Contracts

ENTRY INTO POSSESSION. If the Security Trustee or any Receiver shall enter into possession of the Secured Property or any part thereof, then it or he may from time to time and at any time go out of such possession. Neither the Security Trustee nor any Receiver shall in any circumstances be liable to account to a Company for anything except its or his actual receipts or be liable to such Company for any loss or damage arising from any realisation of the Secured Property or any part of it or from any act default or omission in relation to the Secured Property or any part of it unless such loss or damage shall be caused by its or his own wilful misconduct or gross negligence.