Power of Directors. Upon the appointment of any Receiver, all powers, functions, rights and privileges of the directors of the Corporation with respect to the Mortgaged Property shall cease unless specifically continued by the written consent of the Holder.
Appears in 3 contracts
Samples: Credit Agreement (Lone Pine Resources Inc.), Credit Agreement (Lone Pine Resources Inc.), Credit Agreement (Forest Oil Corp)
Power of Directors. Upon the appointment of any Receiver, all powers, functions, rights and privileges of the directors of the Corporation Debtor with respect to the Mortgaged Property shall cease unless specifically continued by the written consent of the Holder.
Appears in 2 contracts
Samples: Credit Agreement (Bellatrix Exploration Ltd.), Credit Agreement (Nacg Finance LLC)
Power of Directors. Upon the appointment of any Receiver, all powers, functions, rights and privileges of the directors of the Corporation Debtor with respect to the Mortgaged Property Collateral shall cease unless specifically continued by the written consent of the HolderSecured Party.
Appears in 1 contract
Samples: Credit Agreement
