Common use of Receiver’s Powers Clause in Contracts

Receiver’s Powers. (a) Any receiver appointed by the Collateral Agent shall be vested with the rights and remedies which could have been exercised by the Collateral Agent in respect of each Grantor or the Collateral and such other powers and discretions as are granted in the instrument of appointment and any supplemental instruments. The identity of the receiver, its replacement and its remuneration shall be within the sole and unfettered discretion of the Collateral Agent or any other Secured Parties. (b) Any receiver appointed by the Collateral Agent shall act as agent for the Collateral Agent or any other Secured Parties for the purposes of taking possession of the Collateral, but otherwise and for all other purposes (except as provided below), as agent for each Grantor. The receiver may sell, lease, or otherwise dispose of Collateral as agent for each Grantor or as agent for the Collateral Agent as the Collateral Agent may determine in its discretion. Each Grantor agrees to ratify and confirm all actions of the receiver acting as agent for each Grantor, and to release and indemnify the receiver in respect of all such actions. (c) The Collateral Agent, in appointing or refraining from appointing any receiver, shall not incur liability to the receiver, each Grantor or otherwise and shall not be responsible for any misconduct or negligence of the receiver.

Receiver’s Powers. (a) Any receiver appointed by the Collateral Agent shall be vested with the rights and remedies which could have been exercised by the Collateral Agent in respect of each Grantor or the Collateral and such other powers and discretions as are granted in the instrument of appointment and any supplemental instruments. The identity of the receiver, its replacement and its remuneration shall be within the sole and unfettered discretion of the Collateral Agent or any other Holder of Secured PartiesObligations. (b) Any receiver appointed by the Collateral Agent shall act as agent for the Collateral Agent or any other Holder of Secured Parties Obligations for the purposes of taking possession of the Collateral, but otherwise and for all other purposes (except as provided below), as agent for each Grantor. The receiver may sell, lease, or otherwise dispose of Collateral as agent for each Grantor or as agent for the Collateral Agent as the Collateral Agent may determine in its discretion. Each Grantor agrees to ratify and confirm all actions of the receiver acting as agent for each Grantor, and to release and indemnify the receiver in respect of all such actions. (c) The Collateral Agent, in appointing or refraining from appointing any receiver, shall not incur liability to the receiver, each Grantor or otherwise and shall not be responsible for any misconduct or negligence of the receiver.

Receiver’s Powers. (a1) Any receiver appointed by the Collateral Agent shall be is vested with the rights and remedies which could have been exercised by the Collateral Agent in respect of each any Grantor or the Collateral and such other powers and discretions as are granted in the instrument of appointment and any supplemental instruments. The identity of the receiver, its replacement and its remuneration shall be are within the sole and unfettered discretion of the Collateral Agent or any other Secured PartiesAgent. (b2) Any receiver appointed by the Collateral Agent shall will act as agent for the Collateral Agent or any other Secured Parties for the purposes of taking possession of the Collateral, but otherwise and for all other purposes (except as provided below), as agent for each any Grantor. The receiver may sell, lease, or otherwise dispose of Collateral as agent for each any Grantor or as agent for the Collateral Agent as the Collateral Agent may determine in its discretion. Each Grantor agrees to ratify and confirm all actions of the receiver acting as agent for each such Grantor, and to release and indemnify the receiver in respect of all such actions. (c3) The Collateral Agent, in appointing or refraining from appointing any receiver, shall does not incur liability to the receiver, each any Grantor or otherwise and shall is not be responsible for any misconduct or negligence of the such receiver.