Common use of Powers of a Receiver Clause in Contracts

Powers of a Receiver. 9.1 In addition to those powers conferred by law, a receiver shall have and be entitled to exercise in relation to the Mortgagor all the powers set out below: (a) to exercise all rights of the Mortgagee under or pursuant to this Mortgage including all voting and other rights attaching to the Mortgaged Property; (b) to make any arrangement or compromise with others as he shall think fit; (c) to appoint managers, officers and agents for the above purposes at such remuneration as the receiver may determine; (d) to redeem any prior encumbrance and settle and pass the accounts of the encumbrancer and any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Mortgagor and the money so paid shall be deemed an expense properly incurred by the receiver; (e) to pay the proper administrative charges in respect of time spent by his agents and employees in dealing with matters raised by the receiver or relating to the receivership of the Mortgagor; (f) without prejudice to Clause 6.13, to withdraw any Restrictions Notice issued by the Company with respect to any Mortgaged Property, where such withdrawal is permitted by section 273 of the Companies Law and to instruct the registered office provider of the Company to remove any notation relating to any such Restrictions Notice from the Register of Beneficial Ownership; and (g) to do all such other acts and things as may be considered by the receiver to be incidental or conducive to any of the above matters or powers or otherwise incidental or conducive to the preservation, improvement or realisation of the Mortgaged Property or the value thereof.

Powers of a Receiver. 9.1 In addition (a) Every Receiver appointed pursuant to those powers conferred by law, a receiver clause 15.2 (Appointment of Receivers) shall have and be entitled to exercise in relation to the Mortgagor all of the powers set out below: in paragraph (ab) below in addition to exercise (i) all rights the powers conferred by the Law of Property Act (as extended by this Debenture) on any receiver appointed under such Act and (ii) (whether or not such Receiver is an administrative receiver) all the Mortgagee under or pursuant to this Mortgage including all voting and other rights attaching powers of an administrative receiver set out in Schedule 1 to the Mortgaged Property;Insolvency Act. (b) The powers referred to in the first sentence of paragraph (a) above are: (i) to take immediate possession of, get in and collect all or any part of the Secured Assets over which he is appointed; (ii) to carry on the business of the Borrower insofar as it relates to the Secured Assets over which he is appointed as it may think fit, including the entering into of contracts and the repudiation, rescission or variation of any contract to which the Borrower is a party, and the acquisition or hiring of assets; (iii) to make any arrangement and effect all repairs and insurances and do all other acts which the Borrower might do in the ordinary course of its business or compromise with others is obliged to do under the terms of this Debenture whether for the protection or for the improvement of the Secured Assets over which he is appointed as he shall may in his absolute discretion think fit; (civ) to appoint appoint, discharge and vary the terms of employment or other engagement of managers, officers officers, agents, accountants, servants, workmen and agents others for the above purposes at of this Debenture upon such terms as to remuneration or otherwise as the receiver it may determinethink proper; (dv) to redeem for the purpose of exercising any prior encumbrance and settle and pass the accounts of the encumbrancer powers, authorities and discretions conferred on it by or pursuant to this Debenture and/or of defraying any accounts so settled costs, charges, losses or expenses (including remuneration) which shall be incurred by it in the exercise thereof or for any other purpose, to raise and passed shall (subject to any manifest error) be conclusive and binding borrow money either unsecured or on the Mortgagor security of all or any part of the Secured Assets over which he is appointed either in priority to the Security or otherwise and generally on such terms and conditions as it may think fit and no person lending such money shall be concerned to enquire as to the propriety or purpose of the exercise of such power or to see to the application of any money so paid shall be deemed an expense properly incurred by the receiverraised or borrowed; (evi) to pay sell, lease, exchange, grant options or licences over, convert into money and realise or otherwise deal with, all or any part of the Secured Assets over which he is appointed by public auction or private contract and generally in such manner and on such terms as it shall think proper. Without prejudice to the generality of the foregoing, it may do any of these things for a consideration consisting of cash, debentures or other obligations, shares, stock or other valuable consideration and any such consideration may be payable in a lump sum or by instalments spread over such period as it may think fit; (vii) to settle, adjust, refer to arbitration, compromise and arrange any claims, accounts, disputes, questions and demands with or by any person who is or claims to be a creditor of the Borrower or relating in any way to the Secured Assets over which he is appointed or any part thereof; (viii) to bring, prosecute, enforce, defend and abandon any actions, suits and proceedings in relation to the Secured Assets over which he is appointed or any part thereof as may seem to it to be expedient; (ix) to give valid receipts for all moneys and execute all assurances and things which it may think proper administrative charges or desirable for realising the Secured Assets over which he is appointed; (x) to form a Subsidiary or Subsidiaries of the Borrower (whether by acquisition or otherwise) and to supervise and manage the same and to transfer or otherwise dispose to any such Subsidiary all or any part of the Secured Assets over which he is appointed; (xi) to make or require the directors of the Borrower to make calls upon the holders of share capital in the Borrower and to enforce payment of any unpaid calls as it sees fit; (xii) to enter into or otherwise grant guarantees, indemnities or otherwise incur obligations in respect of time spent by his agents the liabilities of third parties and employees to make payments due in dealing with matters raised by the receiver or relating relation to the receivership of the Mortgagor; (f) without prejudice to Clause 6.13, to withdraw any Restrictions Notice issued by the Company with respect to any Mortgaged Property, where such withdrawal is permitted by section 273 of the Companies Law and to instruct the registered office provider of the Company to remove any notation relating to any such Restrictions Notice from the Register of Beneficial Ownershipsame; and (gxiii) to do all such other acts and things as it may be considered by consider desirable or necessary for realising all or any part of the receiver to be Secured Assets over which he is appointed or incidental or conducive to any of the above matters or matters, powers or otherwise incidental authorities conferred on a Receiver under or conducive by virtue of this Debenture; to the preservation, improvement exercise in relation to all or realisation any part of the Mortgaged Property Secured Assets over which he is appointed all such powers, authorities and things as it would be capable of exercising if it were the absolute beneficial owner of the same; and to use the name of the Borrower for all or the value thereofany of such purposes.

Powers of a Receiver. 9.1 In addition to those powers conferred by lawThe Receiver may exercise, a receiver shall have and be entitled to exercise in relation to the Mortgagor each Chargor over whose Assets it is appointed, all the powers powers, rights and discretions set out belowin Schedules 1 and 2 to the Insolvency Act 1986 and in particular, by way of addition to and without limiting such powers, the Receiver may, with or without the concurrence of others: (a) to exercise sell, lease, let, license, grant options over and vary the terms of, terminate or accept surrenders of leases, licences or tenancies of, all rights or any of the Mortgagee under Assets of the relevant Chargor, without the need to observe any of the provisions of Sections 99 and 100 of the Law of Property Act 1925, in such manner and generally on such terms and conditions as it shall think fit in its absolute and unfettered discretion and any such sale or disposition may be for cash, Investments or other valuable consideration (in each case payable in a lump sum or by instalments) and carry any such transactions into effect in the name of and on behalf of such Chargor; (b) promote the formation of a Subsidiary of the relevant Chargor with a view to such Subsidiary purchasing, leasing, licensing or otherwise acquiring interests in all or any of the Assets of such Chargor; (c) sever any fixtures from Land charged pursuant to this Mortgage including Debenture and/or sell them separately; (d) exercise all voting and other rights attaching to Investments owned by the Mortgaged Propertyrelevant Chargor; (e) arrange for the purchase, lease, licence or acquisition of all or any Assets of the relevant Chargor by any Subsidiary contemplated by paragraph (b) above on a basis whereby the consideration may be for cash, Investments, shares of profits or sums calculated by reference to profits or turnover or royalties or licence fees or otherwise, whether or not secured on the assets of such Subsidiary and whether or not such consideration is payable or receivable in a lump sum or by instalments over such period as the Receiver may think fit; (f) make any arrangement or compromise with any Beneficiary or others as he it shall think fit; (cg) make and effect all repairs, renewals and improvements to the Assets of the relevant Chargor and effect, renew or increase insurances on such terms and against such risks as it shall think fit; (h) appoint managers, officers and agents for the above purposes at such remuneration as the receiver Receiver may determine; (di) to redeem any prior encumbrance and settle and pass the accounts of the encumbrancer and any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Mortgagor relevant Chargor and the money so paid shall be deemed an expense properly incurred by the receiverReceiver; (ej) to pay the proper administrative charges of any Beneficiaries in respect of time spent by his their agents and employees in dealing with matters raised by the receiver Receiver or relating to the receivership of the Mortgagorrelevant Chargor; (fk) without prejudice to Clause 6.13, to withdraw commence and/or complete any Restrictions Notice issued by the Company with respect to building operations upon any Mortgaged Property, where such withdrawal is permitted by section 273 Land of the Companies Law relevant Chargor charged pursuant to this Debenture and apply for and obtain any planning permissions, building regulation consents or licences, in each case as it may in his absolute discretion think fit; (l) take all steps necessary to instruct effect all registrations, renewals, applications and notifications as the registered office provider Receiver may in his discretion think prudent to maintain in force or protect any of the Company to remove any notation relating to any such Restrictions Notice from the Register of Beneficial Ownershiprelevant Chargor's Intellectual Property Rights; and (gm) to do all such other acts and things as may be considered by the receiver Receiver to be incidental or conducive to any of the above matters or powers or otherwise incidental or conducive to the preservation, improvement or realisation of the Mortgaged Property or the value thereofrelevant Assets.

Powers of a Receiver. 9.1 In addition to those powers conferred by lawThe Receiver may exercise, a receiver shall have and be entitled to exercise in relation to the Mortgagor Chargor over whose Assets he is appointed, all the powers powers, rights and discretions set out belowin Schedules 1 and 2 to the Insolvency Xxx 0000 and in particular, by way of addition to and without limiting such powers, the Receiver may, with or without the concurrence of others: (a) to exercise sell, lease, let, license, grant options over and vary the terms of, terminate or accept surrenders of leases, licences or tenancies of, all rights or any of the Mortgagee under Assets of the Chargor, without the need to observe any of the provisions of Sections 99 and 100 of the Law of Property Xxx 0000, in such manner and generally on such terms and conditions as he shall think fit in his absolute and unfettered discretion and any such sale or pursuant disposition may be for cash, Investments or other valuable consideration (in each case payable in a lump sum or by instalments) and carry any such transactions into effect in the name of and on behalf of the Chargor; (b) promote the formation of a Subsidiary of the Chargor with a view to this Mortgage including such Subsidiary purchasing, leasing, licensing or otherwise acquiring interests in all or any of the Assets of the Chargor; (c) sever any fixtures from Land and/or sell them separately; (d) exercise all voting and other rights attaching to Investments owned by the Mortgaged PropertyChargor; (e) arrange for the purchase, lease, licence or acquisition of all or any Assets of the Chargor by any Subsidiary contemplated by paragraph (b) above on a basis whereby the consideration may be for cash, Investments, shares of profits or sums calculated by reference to profits or turnover or royalties or licence fees or otherwise, whether or not secured on the assets of such Subsidiary and whether or not such consideration is payable or receivable in a lump sum or by instalments over such period as the Receiver may think fit; (f) make any arrangement or compromise with the Chargee or others as he shall think fit; (cg) make and effect all repairs, renewals and improvements to the Assets of the Chargor and effect, renew or increase insurances on such terms and against such risks as he shall think fit; (h) appoint managers, officers and agents for the above purposes at such remuneration as the receiver Receiver may determine; (di) to redeem any prior encumbrance Security Interest and settle and pass the accounts of the encumbrancer and any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Mortgagor Chargor and the money so paid shall be deemed an expense properly incurred by the receiverReceiver; (ej) to pay the proper administrative charges of the Chargee in respect of time spent by his their agents and employees in dealing with matters raised by the receiver Receiver or relating to the receivership of the MortgagorChargor; (fk) without prejudice to Clause 6.13, to withdraw commence and/or complete any Restrictions Notice issued by the Company with respect to building operations upon any Mortgaged Property, where such withdrawal is permitted by section 273 Land of the Companies Law Chargor and apply for and obtain any planning permissions, building regulation consents or licences, in each case as he may in his absolute discretion think fit; (l) take all steps necessary to instruct effect all registrations, renewals, applications and notifications as the registered office provider Receiver may in his discretion think prudent to maintain in force or protect any of the Company to remove any notation relating to any such Restrictions Notice from the Register of Beneficial OwnershipChargor’s Intellectual Property Rights; and (gm) to do all such other acts and things as may be considered by the receiver Receiver to be incidental or conducive to any of the above matters or powers or otherwise incidental or conducive to the preservation, improvement or realisation of the Mortgaged Property or the value thereofrelevant Assets.