Common use of Powers of Mortgagee Clause in Contracts

Powers of Mortgagee. The powers conferred on mortgagees or receivers or administrative receivers by the LPA and the Insolvency Xxx 0000 (as the case may be) shall apply to the security constituted by this Debenture except insofar as they are expressly or impliedly excluded and where there is ambiguity or conflict between the powers contained in such Acts and those contained in this Debenture, then this Debenture shall prevail.

Powers of Mortgagee. The powers conferred on mortgagees or receivers or administrative receivers by the LPA and the Insolvency Xxx 0000 Act 1986 (as the case may be) shall apply to the security constituted by this Debenture except insofar as they are expressly or impliedly excluded and where there is ambiguity or conflict between the powers contained in such Acts and those contained in this Debenture, then this Debenture shall prevail.