Common use of Receiver’s agency Clause in Contracts

Receiver’s agency. The Receiver shall be the agent of the relevant Chargor (which shall be solely liable for his acts, defaults and remuneration) unless and until such Chargor goes into liquidation, after which time it shall act as principal and shall not become the agent of the Security Agent or any other Beneficiary.

Receiver’s agency. The Receiver shall be the agent of the relevant Chargor (which shall be solely liable for his acts, defaults and remuneration) unless and until such the Chargor goes into liquidation, after which time it he shall act as principal and shall not become the agent of the Security Agent Trustee or any other BeneficiarySecured Party. The Security Trustee shall not be responsible, at any time, for the actions of the Receiver.

Receiver’s agency. The Receiver shall be the agent of the relevant Chargor (which who shall be solely liable for his acts, defaults and remuneration) ), unless and until such that Chargor goes into liquidation, after which time it bankruptcy or liquidation and thereafter he shall act as principal and shall not become the agent of the Security Agent Trustee or any other Beneficiaryof the Secured Parties. The Security Trustee shall not be responsible, at any time, for the actions of the Receiver.

Receiver’s agency. The Receiver shall be the agent of the relevant Chargor (which shall be solely liable for his acts, defaults and remuneration) unless and until such Chargor goes into liquidation, after which time it he shall act as principal and shall not become the agent of the Security Agent Trustee or any other BeneficiarySecured Party. The Security Trustee shall not be responsible, at any time, for the actions of the Receiver.

Receiver’s agency. The Receiver shall be the agent of the relevant Chargor (which shall be solely liable for his acts, defaults and remuneration) unless and until such the Chargor goes into liquidation, after which time it he shall act as principal and shall not become the agent of the Security Agent or any other BeneficiaryChargee.