Common use of Powers of Receiver Clause in Contracts

Powers of Receiver. Subject to Applicable Laws, the Receiver: a. will be deemed to be the Borrower's irrevocable agent or attorney, vested with all rights, powers and discretions of the Borrower, and the Borrower will be solely responsible for the Receiver's acts or omissions; b. has power, either in the Borrower's name or in the name of the Lender, to demand, recover and receive income from the Property and start and carry on any action or court proceeding to collect that income; c. may lease or sublease the Property or any part of it on terms and conditions that the Receiver chooses; d. may complete the construction of or repair any improvement on the Property; e. may take possession of all or part of the Property; f. may manage the Property and maintain it in good condition; g. has the power to perform, in whole or in part, the Borrower's duties under the terms of the Agreements, this Mortgage and the Obligations; and h. has the power to do anything that, in the Receiver's opinion, will maintain and preserve the Property or will increase or preserve the value or income potential of the Property.

Powers of Receiver. Subject to Applicable Laws, the Receiver: a. will be deemed to be the Borrower's ’s irrevocable agent or attorney, vested with all rights, powers and discretions of the Borrower, and the Borrower will be solely responsible for the Receiver's ’s acts or omissions; b. has power, either in the Borrower's ’s name or in the name of the Lender, to demand, recover and receive income from the Property and start and carry on any action or court proceeding to collect that income; c. may lease or sublease the Property or any part of it on terms and conditions that the Receiver chooses; d. may complete the construction of or repair any improvement on the Property; e. may take possession of all or part of the Property; f. may manage the Property and maintain it in good condition; g. has the power to perform, in whole or in part, the Borrower's ’s duties under the terms of the Agreements, this Mortgage and the Obligations; and h. has the power to do anything that, in the Receiver's ’s opinion, will maintain and preserve the Property or will increase or preserve the value or income potential of the Property.