Common use of Receiver’s Powers Clause in Contracts

Receiver’s Powers. (1) Any receiver appointed by the Holder shall be vested with the rights and remedies which could have been exercised by the Holder in respect of the Corporation or the Charged Premises and such other powers and discretions as are granted in the instrument of appointment and any supplemental instruments. The identity of the receiver, any replacement and any remuneration shall be within the sole and unfettered discretion of the Holder. (2) Any receiver appointed by the Holder shall act as agent for the Holder for the purposes of taking possession of the Charged Premises, but otherwise and for all other purposes (except as provided below), as agent for the Corporation. The receiver may sell, lease, or otherwise dispose of Charged Premises as agent for the Corporation or as agent for the Holder as the Holder may determine in its discretion. The Corporation agrees to ratify and confirm all actions of the receiver acting as agent for the Corporation, and to release and indemnify the receiver in respect of all such actions. (3) The Holder, in appointing or refraining from appointing any receiver, shall not incur liability to the receiver, the Corporation or otherwise and shall not be responsible for any misconduct or negligence of such receiver. (4) All moneys from time to time received by the receiver may be applied as follows (i) first, in discharge of all operating expenses and other outgoings affecting the Charged Premises, (ii) second, in keeping in good standing all charges and liens on the Charged Premises having priority over the Security, (iii) third, in payment of the remuneration and disbursements of the receiver, (iv) fourth, in payment to the Holder of the moneys payable hereunder, and (v) the balance, if any, shall be paid to the Corporation or as a court of competent jurisdiction may otherwise direct.

Receiver’s Powers. (1) Any receiver appointed by the Holder shall be is vested with the rights and remedies which could have been exercised by the Holder in respect of the Corporation Obligor or the Charged Premises and such other powers and discretions as are granted in the instrument of appointment and any supplemental instruments. The identity of the receiver, any replacement and any remuneration shall be are within the sole and unfettered discretion of the Holder. (2) Any receiver appointed by the Holder shall will act as agent for the Holder for the purposes of taking possession of the Charged Premises, but otherwise and for all other purposes (except as provided below), as agent for the CorporationObligor. The receiver may sell, lease, or otherwise dispose of the Charged Premises as agent for the Corporation Obligor or as agent for the Holder as the Holder may determine in its discretion. The Corporation Obligor agrees to ratify and confirm all actions of the receiver acting as agent for the CorporationObligor, and to release and indemnify the receiver in respect of all such actions. (3) The Holder, in appointing or refraining from appointing any receiver, shall does not incur liability to the receiver, the Corporation Obligor or otherwise and shall is not be responsible for any misconduct or negligence of such receiver. (4) All moneys from time to time received by the receiver may be applied as follows (i) first, in discharge of all operating expenses and other outgoings affecting the Charged Premises, (ii) second, in keeping in good standing all charges and liens on the Charged Premises having priority over the Security, (iii) third, in payment of the remuneration and disbursements of the receiver, (iv) fourth, in payment to the Holder of the moneys payable hereunder, and (v) the balance, if any, shall be paid to the Corporation Obligor or as a court of competent jurisdiction may otherwise direct.

Receiver’s Powers. (1) Any receiver appointed by the Holder shall be vested with the rights and remedies which could have been exercised by the Holder in respect of the Corporation or the Charged Premises and such other powers and discretions as are granted in the instrument of appointment and any supplemental instruments. The identity of the receiver, any replacement and any remuneration shall be within the sole and unfettered discretion of the Holder. (2) Any receiver appointed by the Holder shall act as agent for the Holder and the Lenders for the purposes of taking possession of the Charged Premises, but otherwise and for all other purposes (except as provided below), as agent for the Corporation. The receiver may sell, lease, or otherwise dispose of Charged Premises as agent for the Corporation or as agent for the Holder and the Lenders as the Holder may determine in its discretion. The Corporation agrees to ratify and confirm all actions of the receiver acting as agent for the Corporation, and to release and indemnify the receiver in respect of all such actions. (3) The Holder, in appointing or refraining from appointing any receiver, shall not incur liability to the receiver, the Corporation or otherwise and shall not be responsible for any misconduct or negligence of such receiver. (4) All moneys from time to time received by the receiver may be applied as follows (i) first, in discharge of all operating expenses and other outgoings affecting the Charged Premises, (ii) second, in keeping in good standing all charges and liens on the Charged Premises having priority over the Security, (iii) third, in payment of the remuneration and disbursements of the receiver, (iv) fourth, in payment to the Holder for itself and on behalf of the Lenders of the moneys payable hereunder, and (v) the balance, if any, shall be paid to the Corporation or as a court of competent jurisdiction may otherwise direct.