POWERS ADDITIONAL TO LPA AND INSOLVENCY ACT POWERS Sample Clauses

POWERS ADDITIONAL TO LPA AND INSOLVENCY ACT POWERS. The powers conferred by this Deed and/or any Legal Charge in relation to the Borrower Security on each Chargee or on any Receiver of its Charged Property or any part of its Charged Property shall be in addition to and not in substitution for the powers conferred on mortgagors, mortgagees in possession or Receivers under the LPA and the Insolvency Act and all the powers of an administrative receiver set out in Schedule 1 to the Insolvency Act (whether or not the Receiver is an administrative receiver) and, where there is any ambiguity or conflict between the powers contained in the Insolvency Act and those conferred by this Deed or that Legal Charge, the terms of this Deed or that Legal Charge shall prevail.
Sample 1
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POWERS ADDITIONAL TO LPA AND INSOLVENCY ACT POWERS. For each Series, the powers conferred by this Arran Funding Note Trust Deed in relation to all or any of the Secured Property in respect of such Series on the Note Trustee or on any Receiver of all or any of the Secured Property shall (save to the extent they relate to Jersey Assets) be in addition to and not in substitution for the powers conferred on mortgagees or receivers under the Law of Property Act 1925 and the Insolvency Act and where there is any ambiguixx xx xxnflict between the powers contained in such Act and those conferred by this Arran Funding Note Trust Deed and any relevant Arran Funding Note Trust Deed Supplement the terms of this Arran Funding Note Trust Deed and any relevant Arran Funding Note Trust Deed Supplement shall prevail. The powers conferred by this Arran Funding Note Trust Deed on the Note Trustee in relation to all or any of the Issuer NTD Jersey Secured Property shall be subject to the Jersey Security Interests Law.
Sample 1
POWERS ADDITIONAL TO LPA AND INSOLVENCY ACT POWERS. For each Series, the powers conferred by this Note Trust Deed in relation to all or any of the Secured Property in respect of such Series on the Note Trustee or on any Receiver of all or any of the Secured Property shall (save to the extent they relate to Jersey Assets) be in addition to and not in substitution for the powers conferred on mortgagees or receivers under the Law of Property Xxx 0000 and the Insolvency Act and where there is any ambiguity or conflict between the powers contained in such Act and those conferred by this Note Trust Deed and any relevant Note Trust Deed Supplement the terms of this Note Trust Deed and any relevant Note Trust Deed Supplement shall prevail. The powers conferred by this Note Trust Deed on the Note Trustee in relation to all or any of the Issuer Jersey Secured Property shall be subject to the Jersey Security Interests Law.
Sample 1
POWERS ADDITIONAL TO LPA AND INSOLVENCY ACT POWERS. For each Series, the powers conferred by this Note Trust Deed in relation to all or any of the Secured Property in respect of such Series on the Note Trustee or on any Receiver of all or any of the Secured Property shall be in addition to and not in substitution for the powers conferred on mortgagees or receivers under the Law of Property Act 1925 and the Insolvency Act and where there is any ambiguxxx xx xonflict between the powers contained in such Act and those conferred by this Note Trust Deed and any relevant Note Trust Deed Supplement the terms of this Note Trust Deed and any relevant Note Trust Deed Supplement shall prevail.
Sample 1

Related to POWERS ADDITIONAL TO LPA AND INSOLVENCY ACT POWERS

  • Statutory Powers For the purposes of all powers implied by statute the Secured Obligations shall be deemed to have become due and payable on the date of this Assignment.

  • Legal Action; Utilization of Special Receivership Powers The Assuming Institution shall notify the Receiver in writing (such notice to be given in accordance with Article V below and to include all relevant details) prior to utilizing in any legal action any special legal power or right which the Assuming Institution derives as a result of having acquired an asset from the Receiver, and the Assuming Institution shall not utilize any such power unless the Receiver shall have consented in writing to the proposed usage. The Receiver shall have the right to direct such proposed usage by the Assuming Institution and the Assuming Institution shall comply in all respects with such direction. Upon request of the Receiver, the Assuming Institution will advise the Receiver as to the status of any such legal action. The Assuming Institution shall immediately notify the Receiver of any judgment in litigation involving any of the aforesaid special powers or rights.

  • Appointment, Powers and Immunities Each Bank hereby irrevocably appoints and authorizes the Agent to act as its agent hereunder and under the other Loan Documents with such powers as are specifically delegated to the Agent by the terms hereof and thereof, together with such other powers as are reasonably incidental thereto. The Agent: (a) shall have no duties or responsibilities except as expressly set forth in this Agreement and the other Loan Documents, and shall not by reason of this Agreement or any other Loan Document be a trustee for any Bank; (b) shall not be responsible to the Banks for any recitals, statements, representations or warranties contained in this Agreement or any other Loan Document, or in any certificate or other document referred to or provided for in, or received by any Bank under, this Agreement or any other Loan Document, or for the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or any other document referred to or provided for herein or therein or for any failure by the Borrower to perform any of its obligations hereunder or thereunder; (c) shall not be required to initiate or conduct any litigation or collection proceedings hereunder or under any other Loan Document except to the extent requested by the Required Banks, and then only on terms and conditions satisfactory to the Agent, and (d) shall not be responsible for any action taken or omitted to be taken by it hereunder or under any other Loan Document or any other document or instrument referred to or provided for herein or therein or in connection herewith or therewith, except for its own gross negligence or willful misconduct. The Agent may employ agents and attorneys-in-fact and shall not be responsible for the negligence or misconduct of any such agents or attorneys-in-fact selected by it with reasonable care. The provisions of this Article VII are solely for the benefit of the Agent and the Banks, and the Borrower shall not have any rights as a third party beneficiary of any of the provisions hereof. In performing its functions and duties under this Agreement and under the other Loan Documents, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency or trust with or for the Borrower. The duties of the Agent shall be ministerial and administrative in nature, and the Agent shall not have by reason of this Agreement or any other Loan Document a fiduciary relationship in respect of any Bank.

  • Additional Powers The Trustees shall have the power and authority on behalf of the Trust:

  • Certain Agreements with Respect to Bankruptcy or Insolvency Proceedings (a) This Agreement shall continue in full force and effect notwithstanding the commencement of any proceeding under the Bankruptcy Code or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law by or against any Grantor or any of its subsidiaries.

  • Limitation on the Exercise of Certain Rights Related to Affiliate Insolvency Proceedings (a) Notwithstanding anything to the contrary in this Agreement or any other agreement, but subject to the requirements of Section 19, no party to this Agreement shall be permitted to exercise any Default Right against a Covered Party with respect to this Agreement that is related, directly or indirectly, to a BHC Affiliate of such party becoming subject to a receivership, insolvency, liquidation, resolution, or similar proceeding (each an “Insolvency Proceeding”), except to the extent the exercise of such Default Right would be permitted under the creditor protection provisions of 12 C.F.R. § 252.84, 12 C.F.R. § 47.5, or 12 C.F.R. § 382.4, as applicable.

  • POWERS AND DUTIES OF CUSTODIAN As custodian, the Custodian shall have and perform the powers and duties set forth in this Article II. Pursuant to and in accordance with Article IV hereof, the Custodian may appoint one or more Subcustodians (as hereinafter defined) to exercise the powers and perform the duties of the Custodian set forth in this Article II and references to the Custodian in this Article II shall include any Subcustodian so appointed.

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