Common use of Receivers Clause in Contracts

Receivers. 7.8.1. At any time after the occurrence of an Enforcement Event, the Chargee may by a written instrument and without notice to any party appoint a Receiver of the Charged Property or any part of it. A Receiver so appointed shall be the agent of the Chargor and the Chargor shall be solely responsible for his acts, defaults and remuneration but the Chargee will have power from time to time to fix the remuneration of any Receiver and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply to the appointment of a Receiver under this clause 7.8.1; 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge pursuant to section 108(3) of the Act; 7.8.3. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4. In addition to the powers conferred on the Chargee by this Charge, the Receiver appointed pursuant to Clause 7.8.1 shall have in relation to the Charged Property all the powers conferred by the Act (as extended by this Charge) on a Receiver appointed under that Act; 7.8.5. The Chargee shall not be responsible for any negligence on the part of a Receiver, provided that the Chargee shall have used bona fides in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever (except to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon shall be paid by the Chargor on a solicitor and own client basis and shall form part of the Secured Obligations and be charged on and paid out of the Charged Property; and 7.8.7. All amounts realized by the Chargee in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (

Receivers. 7.8.1. Section 11.1 At any time after the occurrence and during the continuation of an Enforcement EventEvent of Default, or if the Owner requests it to do so, the Chargee Mortgagee may by a written instrument and without notice to any party the Owner appoint a one or more suitably experienced and reputable persons as Receiver of the Charged Property all or any part of it. A the Vessel, each such person being entitled to act individually as well as jointly and being for all purposes the agent of the Owner. Section 11.2 The appointment of a Receiver so appointed pursuant to Section 11.1 shall be deemed to be subject to the following provisions: 11.2.1 the Receiver shall be the agent of the Chargor Owner, and the Chargor Owner alone shall be solely responsible for his acts, defaults and payment of remuneration; 11.2.2 the Receiver shall be entitled to remuneration but for services at a rate to be determined by the Chargee will have power Mortgagee (acting reasonably) from time to time on the basis of charging from time to fix time adopted by him or his firm (without being limited to the remuneration maximum rate specified by the Law of Property Act 1925); 11.2.3 any Receiver shall have and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply be entitled to the appointment of a Receiver under this clause 7.8.1; 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver exercise all or any of the rights, powers and remedies conferred upon the Mortgagee by this Deed and by applicable law with respect to the Vessel and/or the Mortgage (including, without limitation, all of the powers and rights of a legal and beneficial owner and the power to do or omit to do anything which the Owner itself could do or omit to do); and 11.2.4 any Receiver shall have the power to do all things (including bringing or defending proceedings in the name or on behalf of the Owner) which seem to the Receiver to be incidental or conducive to (a) any of the functions, powers, authorities or discretions conferred on or vested in it by this Charge pursuant to section 108(3such Receiver or (b) the exercise of the Mortgage. Sections 109(6) and 109(8) of the Act; 7.8.3. The Chargee may by instrument Law of Property Xxx 0000 shall not apply in writing delegate relation to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4appointed pursuant to Section 11.1. In addition to the powers conferred on the Chargee Mortgagee by this ChargeDeed, the each Receiver appointed pursuant to Clause 7.8.1 Section 11.1 shall have in relation to the Charged Property Vessel (i) all the powers conferred by the Act Law of Property Xxx 0000 (as extended by this ChargeDeed) on a Receiver appointed under that Act; 7.8.5. The Chargee shall Act and (ii) (whether or not be responsible for any negligence on such Receiver is an administrative receiver) all the part powers of a Receiver, provided that the Chargee shall have used bona fides an administrative receiver set out in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever (except Schedule 1 to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon shall be paid by the Chargor on a solicitor and own client basis and shall form part of the Secured Obligations and be charged on and paid out of the Charged Property; and 7.8.7. All amounts realized by the Chargee in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (Insolvency Xxx 0000.

Receivers. 7.8.1. At any time after the occurrence of an Enforcement Event, the Chargee may by a written instrument and without notice to any party appoint a Receiver of the Charged Property or any part of it. A Receiver so appointed shall be the agent of the Chargor and the Chargor shall be solely responsible for his acts, defaults and remuneration but the Chargee will have power from time to time to fix the remuneration of any Receiver and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply to the appointment of a Receiver under this clause 7.8.1; 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge pursuant to section 108(3) of the Act; 7.8.3. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4. In addition to the powers conferred on the Chargee by this Charge, the Receiver appointed pursuant to Clause 7.8.1 shall have in relation to the Charged Property all the powers conferred by the Act (as extended by this Charge) on a Receiver appointed under that Act; 7.8.5. The Chargee shall not be responsible for any negligence on the part of a Receiver, provided that the Chargee shall have used bona fides in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever (except to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon shall be paid by the Chargor on a solicitor and own client basis and shall form part of the Secured Obligations and be charged on and paid out of the Charged Property; and 7.8.7. All amounts realized by the Chargee in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (Priority of Payments) of the Security Agreement. To the extent relevant, the subordination arrangements set forth in Sections 2, 5 and 6 of the Intercreditor Agreement shall apply to this Charge.

Receivers. 7.8.1. At any time after the occurrence of an Enforcement EventEvent of Default and for so long as it is continuing and the acceleration of the Loans and for so long as such acceleration shall not have been rescinded, the Chargee may by a written instrument and without notice to any party appoint a Receiver of the Charged Property or any part of it. A Receiver so appointed shall be the agent of the Chargor and the Chargor shall be solely responsible for his acts, defaults and remuneration but the Chargee will have power from time to time to fix the remuneration of any Receiver and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply to the appointment of a Receiver under this clause 7.8.1; 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge pursuant to section 108(3) of the Act; 7.8.3. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4. In addition to the powers conferred on the Chargee by this Charge, the Receiver appointed pursuant to Clause 7.8.1 shall have in relation to the Charged Property all the powers conferred by the Act (as extended by this Charge) on a Receiver appointed under that Act; 7.8.5. The Chargee shall not be responsible for any negligence on the part of a Receiver, provided that the Chargee shall have used bona fides in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever (except to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon shall be paid by the Chargor on a solicitor and own client basis and shall form part of the Secured Obligations and be charged on and paid out of the Charged Property; and 7.8.7. All amounts realized by the Chargee in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (remedies

Receivers. 7.8.1. Section 11.1 At any time after the occurrence and during the continuation of an Enforcement EventEvent of Default, or if the Owner requests it to do so, the Chargee Mortgagee may by a written instrument and without notice to any party the Owner appoint a one or more suitably experienced and reputable persons as Receiver of the Charged Property all or any part of it. A the Vessel, each such person being entitled to act individually as well as jointly and being for all purposes the agent of the Owner. Section 11.2 The appointment of a Receiver so appointed pursuant to Section 11.1 shall be deemed to be subject to the following provisions: 11.2.1 the Receiver shall be the agent of the Chargor Owner, and the Chargor Owner alone shall be solely responsible for his acts, defaults and payment of remuneration; 11.2.2 the Receiver shall be entitled to remuneration but for services at a rate to be determined by the Chargee will have power Mortgagee (acting reasonably) from time to time on the basis of charging from time to fix time adopted by him or his firm (without being limited to the remuneration maximum rate specified by the Law of Property Act 1925); 11.2.3 any Receiver shall have and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply be entitled to the appointment of a Receiver under this clause 7.8.1; 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver exercise all or any of the rights, powers and remedies conferred upon the Mortgagee by this Deed and by applicable law with respect to the Vessel and/or the Mortgage (including, without limitation, all of the powers and rights of a legal and beneficial owner and the power to do or omit to do anything which the Owner itself could do or omit to do); and 11.2.4 any Receiver shall have the power to do all things (including bringing or defending proceedings in the name or on behalf of the Owner) which seem to the Receiver to be incidental or conducive to (a) any of the functions, powers, authorities or discretions conferred on or vested in it by this Charge pursuant to section 108(3such Receiver or (b) the exercise of the Mortgage. Sections 109(6) and 109(8) of the Act; 7.8.3. The Chargee may by instrument Law of Property Axx 0000 shall not apply in writing delegate relation to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4appointed pursuant to Section 11.1. In addition to the powers conferred on the Chargee Mortgagee by this ChargeDeed, the each Receiver appointed pursuant to Clause 7.8.1 Section 11.1 shall have in relation to the Charged Property Vessel (i) all the powers conferred by the Act Law of Property Axx 0000 (as extended by this ChargeDeed) on a Receiver appointed under that Act; 7.8.5. The Chargee shall Act and (ii) (whether or not be responsible for any negligence on such Receiver is an administrative receiver) all the part powers of a Receiver, provided that the Chargee shall have used bona fides an administrative receiver set out in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever (except Schedule 1 to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon shall be paid by the Chargor on a solicitor and own client basis and shall form part of the Secured Obligations and be charged on and paid out of the Charged Property; and 7.8.7. All amounts realized by the Chargee in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (Insolvency Axx 0000.

Receivers. 7.8.1. At any time 7.2.1 Upon or after the occurrence of an Enforcement EventEvent of Default which is continuing or if requested by the Mortgagor, the Chargee Mortgagee may by a written instrument and writing (acting through an authorized officer of the Mortgagee) without notice to any party the Mortgagor: (a) appoint one or more Persons to be a Receiver of the Charged Property whole or any part of it. A the Security Assets; (b) remove (so far as it is lawfully able) any Receiver so appointed; and (c) appoint another Person(s) as an additional or replacement Receiver(s). 7.2.2 Each Person appointed to be a Receiver pursuant to Section 7.2.1 shall be: (a) entitled to act individually or together with any other Person appointed or substituted as Receiver; (b) for all purposes deemed to be the agent of the Chargor and the Chargor Mortgagor who shall be solely responsible for his acts, defaults and liabilities and for the payment of his remuneration but and no Receiver shall at any time act as agent for the Chargee will have power Mortgagee; and (c) entitled to remuneration for his services at a rate to be fixed by the Mortgagee from time to time to fix the remuneration of any Receiver and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply to the appointment of a Receiver under this clause 7.8.1;time. 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge pursuant to section 108(3) of the Act; 7.8.3. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4. 7.2.3 In addition to the powers conferred on by Section 7.1, each Receiver shall (subject to any restrictions in the Chargee by this Chargeinstrument appointing him but notwithstanding any winding-up, insolvency or dissolution of the Receiver appointed pursuant to Clause 7.8.1 shall have Mortgagor) have, in relation to the Charged Property part of the Security Assets in respect of which he was appointed (in the name of or on behalf of the Mortgagor or in his own name and, in each case, at the cost of the Mortgagor): (a) the power to do all things (including without limitation bringing or defending proceedings in the name or on behalf of the Mortgagor) which seem to such Receiver to be incidental or conducive to (i) any of the functions, powers, authorities or discretions conferred on or vested in him or (ii) the exercise of the rights under this Deed (including without limitation realisation of such part of the Security Assets) or (iii) bringing to his hands any assets of the Mortgagor forming, or which when got in would be, part of the Security Assets; and (b) all the powers conferred on him by the Act laws of equity. 7.2.4 Without prejudice to the generality of the foregoing, each Receiver shall (as extended by this Chargesubject to any restrictions in the instrument appointing him but notwithstanding any winding-up, insolvency or dissolution of the Mortgagor) on a Receiver appointed under that Act; 7.8.5. The Chargee shall not be responsible for any negligence on have the following powers in relation to the part of a Receiverthe Security Assets (and any assets which, provided that when got in, would be part of the Chargee shall have used bona fides in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession Security Assets) in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever which he was appointed (except and every following reference in this Section 7.2.4 to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon Security Assets shall be paid by the Chargor on read as a solicitor and own client basis and shall form reference to that part of the Secured Obligations and be charged on and paid out Security Assets in respect of the Charged Property; and 7.8.7. All amounts realized by the Chargee which such Receiver was appointed), in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (each case without further notice:

Receivers. 7.8.1. At any time 8.2.1 Upon or after the occurrence of an Enforcement EventEvent of Default which is continuing or if requested by the Chargor, the Chargee may by a written instrument and writing (acting through an authorized officer of the Chargee) without notice to any party the Chargor: (a) appoint one or more Persons to be a Receiver of the Charged Property whole or any part of it. A the Security Assets; (b) remove (so far as it is lawfully able) any Receiver so appointed; and (c) appoint another Person(s) as an additional or replacement Receiver(s). 8.2.2 Each Person appointed to be a Receiver pursuant to Section 8.2.1 shall be: (a) entitled to act individually or together with any other Person appointed or substituted as Receiver; (b) for all purposes deemed to be the agent of the Chargor and the Chargor who shall be solely responsible for his acts, defaults and liabilities and for the payment of his remuneration but and no Receiver shall at any time act as agent for the Chargee; and (c) entitled to remuneration for his services at a rate to be fixed by the Chargee will have power from time to time to fix the remuneration of any Receiver and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply to the appointment of a Receiver under this clause 7.8.1;time. 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge pursuant to section 108(3) of the Act; 7.8.3. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4. 8.2.3 In addition to the powers conferred on by Section 8.1, each Receiver shall (subject to any restrictions in the Chargee by this Chargeinstrument appointing him but notwithstanding any winding-up, insolvency or dissolution of the Receiver appointed pursuant to Clause 7.8.1 shall have Chargor) have, in relation to the Charged Property part of the Security Assets in respect of which he was appointed (in the name of or on behalf of the Chargor or in his own name and, in each case, at the cost of the Chargor): (a) the power to do all things (including without limitation bringing or defending proceedings in the name or on behalf of the Chargor) which seem to such Receiver to be incidental or conducive to (i) any of the functions, powers, authorities or discretions conferred on or vested in him or (ii) the exercise of the rights under this Deed (including without limitation realisation of such part of the Security Assets) or (iii) bringing to his hands any assets of the Chargor forming, or which when got in would be, part of the Security Assets; and (b) all the powers conferred on him by the Act law of equity. 8.2.4 Without prejudice to the generality of the foregoing, each Receiver shall (as extended by this Chargesubject to any restrictions in the instrument appointing him but notwithstanding any winding-up, insolvency or dissolution of the Chargor) on a Receiver appointed under that Act; 7.8.5. The Chargee shall not be responsible for any negligence on have the following powers in relation to the part of a Receiverthe Security Assets (and any assets which, provided that when got in, would be part of the Chargee shall have used bona fides in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession Security Assets) in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever which he was appointed (except and every following reference in this Section 8.2.4 to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon Security Assets shall be paid by the Chargor on read as a solicitor and own client basis and shall form reference to that part of the Secured Obligations and be charged on and paid out Security Assets in respect of the Charged Property; and 7.8.7. All amounts realized by the Chargee which such Receiver was appointed), in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (each case without further notice:

Receivers. 7.8.1. At any time 7.2.1 Upon or after the occurrence of an Enforcement EventEvent of Default which is continuing or if requested by the Mortgagor, the Chargee Mortgagee may by a written instrument and writing (acting through an authorized officer of the Mortgagee) without notice to any party the Mortgagor: (a) appoint one or more Persons to be a Receiver of the Charged Property whole or any part of it. A the Security Assets; (b) remove (so far as it is lawfully able) any Receiver so appointed; and (c) appoint another Person(s) as an additional or replacement Receiver(s). 7.2.2 Each Person appointed to be a Receiver pursuant to Section 7.2.1 shall be: (a) entitled to act individually or together with any other Person appointed or substituted as Receiver; (b) for all purposes deemed to be the agent of the Chargor and the Chargor Mortgagor who shall be solely responsible for his acts, defaults and liabilities and for the payment of his remuneration but and no Receiver shall at any time act as agent for the Chargee will have power Mortgagee; and (c) entitled to remuneration for his services at a rate to be fixed by the Mortgagee from time to time to fix the remuneration of any Receiver and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply to the appointment of a Receiver under this clause 7.8.1;time. 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge pursuant to section 108(3) of the Act; 7.8.3. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4. 7.2.3 In addition to the powers conferred on by Section 7.1, each Receiver shall (subject to any restrictions in the Chargee by this Chargeinstrument appointing him but notwithstanding any winding-up, insolvency or dissolution of the Receiver appointed pursuant to Clause 7.8.1 shall have Mortgagor) have, in relation to the Charged Property part of the Security Assets in respect of which he was appointed (in the name of or on behalf of the Mortgagor or in his own name and, in each case, at the cost of the Mortgagor): (a) the power to do all things (including without limitation bringing or defending proceedings in the name or on behalf of the Mortgagor) which seem to such Receiver to be incidental or conducive to (i) any of the functions, powers, authorities or discretions conferred on or vested in him or (ii) the exercise of the rights under this Deed (including without limitation realisation of such part of the Security Assets) or (iii) bringing to his hands any assets of the Mortgagor forming, or which when got in would be, part of the Security Assets; and (b) all the powers conferred on him by the Act laws of equity. 7.2.4 Without prejudice to the generality of the foregoing, each Receiver shall (as extended by this Chargesubject to any restrictions in the instrument appointing him but notwithstanding any winding-up, insolvency or dissolution of the Mortgagor) on a Receiver appointed under that Act; 7.8.5. The Chargee shall not be responsible for any negligence on have the following powers in relation to the part of a Receiverthe Security Assets (and any assets which, provided that when got in, would be part of the Chargee shall have used bona fides in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession Security Assets) in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever which he was appointed (except and every following reference in this Section 7.2.4 to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon Security Assets shall be paid by the Chargor on read as a solicitor and own client basis and shall form reference to that part of the Secured Obligations Security Assets in respect of which such Receiver was appointed), in each case without further notice: (a) Take Possession. power to take immediate possession of, collect and be charged on and paid out get in all or any part of the Charged Property; and 7.8.7. All amounts realized by Security Assets including without limitation all payment, dividends, interests and other monies arising therefrom or accruing thereto (whether before or after the Chargee date of his appointment) and without prejudice to the foregoing, to cause to be registered all or any part of the Security Assets in connection with its own name or in the exercise name of rights and remedies hereunder shall be applied by its nominee(s) or in the Chargee as provided in section 3.02 (name of any purchaser(s) thereof;

Receivers. 7.8.1. At any time 8.2.1 Upon or after the occurrence of an Enforcement EventEvent of Default which is continuing or if requested by the Chargor, the Chargee may by a written instrument and writing (acting through an authorized officer of the Chargee) without notice to any party the Chargor: (a) appoint one or more Persons to be a Receiver of the Charged Property whole or any part of it. A the Security Assets; (b) remove (so far as it is lawfully able) any Receiver so appointed; and (c) appoint another Person(s) as an additional or replacement Receiver(s). 8.2.2 Each Person appointed to be a Receiver pursuant to Section 8.2.1 shall be: (a) entitled to act individually or together with any other Person appointed or substituted as Receiver; (b) for all purposes deemed to be the agent of the Chargor and the Chargor who shall be solely responsible for his acts, defaults and liabilities and for the payment of his remuneration but and no Receiver shall at any time act as agent for the Chargee; and (c) entitled to remuneration for his services at a rate to be fixed by the Chargee will have power from time to time to fix the remuneration of any Receiver and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply to the appointment of a Receiver under this clause 7.8.1;time. 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge pursuant to section 108(3) of the Act; 7.8.3. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4. 8.2.3 In addition to the powers conferred on by Section 8.1, each Receiver shall (subject to any restrictions in the Chargee by this Chargeinstrument appointing him but notwithstanding any winding-up, insolvency or dissolution of the Receiver appointed pursuant to Clause 7.8.1 shall have Chargor) have, in relation to the Charged Property part of the Security Assets in respect of which he was appointed (in the name of or on behalf of the Chargor or in his own name and, in each case, at the cost of the Chargor): (a) the power to do all things (including without limitation bringing or defending proceedings in the name or on behalf of the Chargor) which seem to such Receiver to be incidental or conducive to (i) any of the functions, powers, authorities or discretions conferred on or vested in him or (ii) the exercise of the rights under this Deed (including without limitation realisation of such part of the Security Assets) or (iii) bringing to his hands any assets of the Chargor forming, or which when got in would be, part of the Security Assets; and (b) all the powers conferred on him by the Act laws of equity. 8.2.4 Without prejudice to the generality of the foregoing, each Receiver shall (as extended by this Chargesubject to any restrictions in the instrument appointing him but notwithstanding any winding-up, insolvency or dissolution of the Chargor) on a Receiver appointed under that Act; 7.8.5. The Chargee shall not be responsible for any negligence on have the following powers in relation to the part of a Receiverthe Security Assets (and any assets which, provided that when got in, would be part of the Chargee shall have used bona fides in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession Security Assets) in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever which he was appointed (except and every following reference in this Section 8.2.4 to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon Security Assets shall be paid by the Chargor on read as a solicitor and own client basis and shall form reference to that part of the Secured Obligations and be charged on and paid out Security Assets in respect of the Charged Property; and 7.8.7. All amounts realized by the Chargee which such Receiver was appointed), in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (each case without further notice:

Receivers. 7.8.1. At any time after the occurrence of an Enforcement EventEvent of Default, the Chargee may by a written instrument and without notice to any party appoint a Receiver of the Charged Property or any part of it. A Receiver so appointed shall be the agent of the Chargor and the Chargor shall be solely responsible for his acts, defaults and remuneration but the Chargee will have power from time to time to fix the remuneration of any Receiver and direct payment thereof out of the proceeds of the Charged Property. The restrictions contained in section 108(1) and the provisions of sub-sections 108(4) and (7) (Appointment of a Receiver) of the Act will not apply to the appointment of a Receiver under this clause 7.8.1; 7.8.2. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge pursuant to section 108(3) of the Act; 7.8.3. The Chargee may by instrument in writing delegate to any such Receiver all or any of the rights, powers and discretions vested in it by this Charge; 7.8.4. In addition to the powers conferred on the Chargee by this Charge, the Receiver appointed pursuant to Clause 7.8.1 shall have in relation to the Charged Property all the powers conferred by the Act (as extended by this Charge) on a Receiver appointed under that Act; 7.8.5. The Chargee shall not be responsible for any negligence on the part of a Receiver, provided that the Chargee shall have used bona fides in the appointment of such Receiver; 7.8.6. Neither the Chargee nor any Receiver appointed under this Charge shall be liable to account as mortgagee in possession in respect of any of the Charged Property or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever (except to the extent that the same results from their or his gross negligence or willful default in connection with any of the Charged Property) for which a mortgagee in possession might as such be liable and all costs, charges and expenses incurred by the Chargee or any Receiver appointed hereunder (including the costs of any proceedings to enforce the security) together with all Value Added Tax thereon shall be paid by the Chargor on a solicitor and own client basis and shall form part of the Secured Obligations and be charged on and paid out of the Charged Property; and 7.8.7. All amounts realized by the Chargee in connection with the exercise of rights and remedies hereunder shall be applied by the Chargee as provided in section 3.02 (