Common use of Receiver or Other Court Order Clause in Contracts

Receiver or Other Court Order. Following an Event of Default, as a matter of right, following ten (10) days notice and without regard to the adequacy of the security, and upon application to a court of competent jurisdiction, the Lenders shall be entitled to the immediate appointment of a receiver for all or any part of the Collateral, and of the payments and proceeds thereof and therefrom, whether such receivership be incidental to a proposed sale of the Collateral or otherwise, and the Borrowers hereby consent to the appointment of such a receiver and to an order of court directing that payments, including Medicare and Medicaid payments, be made directly to the receiver. The Borrowers will pay to the Beneficiary, upon demand, all expenses, including receiver's fees, attorney's fees, costs and agents compensation, advanced by the Borrowers and incurred pursuant to the provisions contained in this Section.

Appears in 4 contracts

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc)

AutoNDA by SimpleDocs

Receiver or Other Court Order. Following an Event of Default, as a matter of right, following ten (10) days notice and without regard to the adequacy of the security, and upon application to a court of competent jurisdiction, the Lenders shall be entitled to the immediate appointment of a receiver for all or any part of the Collateral, and of the payments and proceeds thereof and therefrom, whether such receivership be incidental to a proposed sale of the Collateral or otherwise, and the Borrowers Borrower hereby consent to the appointment of such a receiver and to an order of court directing that payments, including Medicare and Medicaid payments, be made directly to the receiver. The Borrowers Borrower will pay to the Beneficiary, upon demand, all expenses, including receiver's fees, attorney's fees, costs and agents compensation, advanced by the Borrowers Borrower and incurred pursuant to the provisions contained in this Section.

Appears in 2 contracts

Samples: Financing and Security Agreement (Alternative Living Services Inc), Financing and Security Agreement (Alternative Living Services Inc)

Receiver or Other Court Order. Following an uncured Event of Default, as a matter of right, following ten (10) days notice and without regard to the adequacy of the security, and upon application to a court of competent jurisdiction, the Lenders Lender shall be entitled to the immediate appointment of a receiver for all or any part of the Collateral, and of the payments and proceeds thereof and therefrom, whether such receivership be incidental to a proposed sale of the Collateral or otherwise, and the Borrowers Borrower hereby consent consents to the appointment of such a receiver and to an order of court directing that payments, including Medicare and Medicaid payments, be made directly to the receiver. The Borrowers Borrower will pay to the BeneficiaryLender, upon demand, all expenses, including reasonable receiver's ’s fees, reasonable attorney's ’s fees, costs and agents compensation, advanced by the Borrowers Borrower and incurred pursuant to the provisions contained in this Section.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Senior Living Inc)

Receiver or Other Court Order. Following an uncured Event of Default, as a matter of right, following ten (10) days notice and without regard to the adequacy of the security, and upon application to a court of competent jurisdiction, the Lenders Lender shall be entitled to the immediate appointment of a receiver for all or any part of the Collateral, and of the payments and proceeds thereof and therefrom, whether such receivership be incidental to a proposed sale of the Collateral or otherwise, and the Borrowers Borrower hereby consent consents to the appointment of such a receiver and to an order of court directing that payments, including Medicare and Medicaid payments, be made directly to the receiver. The Borrowers Borrower will pay to the BeneficiaryLender, upon demand, all expenses, including reasonable 38 39 receiver's fees, reasonable attorney's fees, costs and agents compensation, advanced by the Borrowers Borrower and incurred pursuant to the provisions contained in this Section.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Assisted Living Inc)

Receiver or Other Court Order. Following an Event of Default, as a matter of right, following ten (10) days notice and without regard to the adequacy of the security, and upon application to a court of competent jurisdiction, the Lenders Agent shall be entitled to the immediate appointment of a receiver for all or any part of the Collateral, and of the payments and proceeds thereof and therefrom, whether such receivership be incidental to a proposed sale of the Collateral or otherwise, and the Borrowers each Borrower hereby consent consents to the appointment of such a receiver and to an order of court directing that payments, including Medicare and Medicaid payments, be made directly to the receiver. The Borrowers will pay to the BeneficiaryAgent, upon demand, all expenses, including receiver's fees, attorney's fees, costs and agents compensation, advanced by any of the Borrowers Lenders and incurred pursuant to the provisions contained in this Section.

Appears in 1 contract

Samples: Financing and Security Agreement (American Retirement Corp)

AutoNDA by SimpleDocs

Receiver or Other Court Order. Following an Event of Default, as a matter of right, following ten (10) days notice and without regard to the adequacy of the security, and upon application to a court of competent jurisdiction, the Lenders Lender shall be entitled to the immediate appointment of a receiver for all or any part of the Collateral, and of the payments and proceeds thereof and therefrom, whether such receivership be incidental to a proposed sale of the Collateral or otherwise, and the Borrowers hereby consent to the appointment of such a receiver and to an order of court directing that payments, including Medicare and Medicaid payments, be made directly to the receiver. The Borrowers will pay to the Beneficiary, upon demand, all expenses, including receiver's fees, attorney's fees, costs and agents compensation, advanced by the Borrowers and incurred pursuant to the provisions contained in this Section.

Appears in 1 contract

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)

Receiver or Other Court Order. Following an Event of Default, as a matter of right, following ten (10) days notice and without regard to the adequacy of the security, and upon application to a court of competent jurisdiction, the Lenders shall be entitled to the immediate appointment of a receiver for all or any part of the Collateral, and of the payments and proceeds thereof and therefrom, whether such receivership be incidental to a proposed sale of the Collateral or otherwise, and the Borrowers Borrower and any Guarantor Subsidiaries hereby consent to the appointment of such a receiver and to an order of court directing that payments, including Medicare and Medicaid payments, be made directly to the receiver. The Borrowers Borrower will pay to the Beneficiary, upon demand, all expenses, including receiver's fees, attorney's fees, costs and agents compensation, advanced by the Borrowers Borrower and incurred pursuant to the provisions contained in this Section.

Appears in 1 contract

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)

Receiver or Other Court Order. Following an uncured Event of Default, as a matter of right, following ten (10) days notice and without regard to the adequacy of the security, and upon application to a court of competent jurisdiction, the Lenders Agent shall be entitled to the immediate appointment of a receiver for all or any part of the Collateral, and of the payments and proceeds thereof and therefrom, whether such receivership be incidental to a proposed sale of the Collateral or otherwise, and the Borrowers Borrower hereby consent consents to the appointment of such a receiver and to an order of court directing that payments, including Medicare and Medicaid payments, be made directly to the receiver. The Borrowers Borrower will pay to the BeneficiaryAgent, upon demand, all expenses, including reasonable receiver's ’s fees, reasonable attorney's ’s fees, costs and agents compensation, advanced by the Borrowers Borrower and incurred pursuant to the provisions contained in this Section.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Senior Living Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.