Common use of Receivers Clause in Contracts

Receivers. Borrower and each other Credit Party irrevocably agree that upon the occurrence of an Event of Default, Lender may obtain an order, ex parte, from a state or federal court appointing a receiver for (a) the business operations of Borrower and/or any of the other Credit Parties; (b) for the Collateral; and/or (c) for any or all of the assets and property rights of Borrower and/or of such other Credit Parties. Lender’s right to obtain an order ex parte from a state or federal court appointing a receiver as provided herein shall be as a matter of right and without notice to Borrower or any other Credit Party or anyone claiming under Borrower or any other Credit Party, and without regard to the then value of the Collateral or the interest of Borrower or any other Credit Party therein. BORROWER AND EACH OTHER CREDIT PARTY WAIVES ANY RIGHT TO A HEARING OR NOTICE OF HEARING PRIOR TO THE APPOINTMENT OF A RECEIVER AND IRREVOCABLY CONSENTS TO SUCH APPOINTMENT. Borrower and each other Credit Party irrevocably agree that any receiver appointed pursuant to this Section may have all of the powers and duties of receivers in like or similar cases, including the right, with Lender’s express written consent, to operate and sell all property of the receivership estate, and that such powers and duties shall be vested in the receiver until the later of (x) the date of confirmation of sale of the receivership estate, (y) the date of expiration of any redemption period, or (z) the date the receiver is discharged. All expenses incurred by the receiver or its agents, including obligations to repay funds borrowed by the receiver, shall constitute a part of the Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys’ fees incurred by the receiver and Lender, together with interest thereon at the default rate of interest from the date incurred until paid, and the balance shall be applied toward the Obligations or in such other manner as the court may direct. Borrower and each other Credit Party expressly waive any and all rights it may have to object to the appointment of a receiver as provided herein or to the receiver’s operation or disposition of the receivership estate.

Receivers. Borrower and each other Credit Party Debtor irrevocably agree agrees that upon the occurrence of an Event of Default, Lender may obtain an order, ex parte, from a state or federal court appointing a receiver for (a) the business operations of Borrower and/or any of the other Credit PartiesDebtor; (b) for the UCC Collateral; and/or (c) for any or all of the assets and property rights of Borrower and/or of such other Credit PartiesDebtor. Lender’s right to obtain such an order ex parte from a state or federal such court appointing a receiver as provided herein shall be as a matter of right and without notice to Borrower or any other Credit Party Debtor or anyone claiming under Borrower or any other Credit Party, Debtor and without regard to the then value of the UCC Collateral or the interest of Borrower or any other Credit Party Debtor therein. BORROWER AND EACH OTHER CREDIT PARTY DEBTOR WAIVES ANY RIGHT TO A HEARING OR NOTICE OF HEARING PRIOR TO THE APPOINTMENT OF A RECEIVER AND IRREVOCABLY CONSENTS TO SUCH APPOINTMENT. Borrower and each other Credit Party Debtor irrevocably agree agrees that any receiver appointed pursuant to this Section may have all of the powers and duties of receivers in like or similar cases, including the right, with Lender’s express written consent, to operate and sell all property of the receivership estate, and that such powers and duties shall be vested in the receiver until the later of (x) the date of confirmation of sale of the receivership estate, ; (y) the date of expiration of any redemption period, ; or (z) the date the receiver is discharged. All expenses incurred by the receiver or its agents, including obligations to repay funds borrowed by the receiver, shall constitute a part of the Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys’ fees incurred by the receiver and Lender, together with interest thereon at the default rate of interest from the date incurred until paid, and the balance shall be applied toward the Obligations or in such other manner as the court may direct. Borrower and each other Credit Party expressly waive Debtor waives any and all rights it may have to object to the appointment of a receiver as provided herein or to the receiver’s operation or disposition of the receivership estate.

Receivers. Borrower and each 12.1 Every Receiver will, subject to any limitation or restrictions set out in the deed or other Credit Party irrevocably agree that upon instrument under which the occurrence Receiver is appointed, have in relation to the Charged Property in respect of an Event of Default, Lender may obtain an order, ex parte, from a state or federal court appointing a receiver for which the Receiver is appointed: (a) power in the business operations of Borrower and/or any name and on behalf and at the cost of the other Credit Parties; Chargor to do or omit to do anything which the Chargor itself or an absolute owner could do or have done in respect of any such property; (b) for (with the Collateral; and/or consent of the Chargee) all the powers conferred by law on Chargees in possession as such powers are varied and extended and applicable to the Chargee under this deed; (c) for any all the rights and powers conferred by law or under statute (including, without limitation, the Corporations Act) on receivers or receivers and managers; and (d) all the rights, powers, remedies, discretions and privileges available to or conferred on the Chargee anywhere under this deed (other than the power to appoint Receivers). 12.2 A Receiver will be the agent of the assets and property rights of Borrower and/or of such other Credit Parties. Lender’s right to obtain an order ex parte from a state or federal court appointing a receiver as provided herein shall be as a matter of right and without notice to Borrower or any other Credit Party or anyone claiming under Borrower or any other Credit Party, and without regard to the then value of the Collateral or the interest of Borrower or any other Credit Party therein. BORROWER AND EACH OTHER CREDIT PARTY WAIVES ANY RIGHT TO A HEARING OR NOTICE OF HEARING PRIOR TO THE APPOINTMENT OF A RECEIVER AND IRREVOCABLY CONSENTS TO SUCH APPOINTMENT. Borrower and each other Credit Party irrevocably agree that any receiver appointed pursuant to this Section may have all of the powers and duties of receivers in like or similar cases, including the right, with Lender’s express written consent, to operate and sell all property of the receivership estate, and that such powers and duties shall be vested in the receiver until the later of (x) the date of confirmation of sale of the receivership estate, (y) the date of expiration of any redemption period, or (z) the date the receiver is discharged. All expenses incurred by the receiver or its agents, including obligations to repay funds borrowed by the receiver, shall constitute a part of the Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys’ fees incurred by the receiver and Lender, together with interest thereon at the default rate of interest from the date incurred until paidChargor, and the balance shall Chargor will alone be applied toward responsible for the Obligations Receiver’s acts and defaults, but if at any time, a resolution is passed or an order is made for the winding-up of the Chargor, the Receiver will to the extent required by law cease to be the agent of the Chargor and may, if the Chargee notifies him in such other manner writing, become the agent of the Chargee. The Chargee may, despite that resolution or order, exercise its power to appoint a further Receiver under clause 11.1(ii)(i) at or after that time. 12.3 The obligations, prohibitions and restrictions set out in or implied by this deed are not to be construed as limiting any rights, powers, remedies or discretions exercisable by a Receiver appointed under this deed who is, or who is deemed under this deed to be, an agent of the Chargor. 12.4 If two or more persons are appointed to be the Receiver under this deed, those persons may be appointed jointly, severally or jointly and severally as the court may directChargee may, in the instrument of appointment, stipulate. Borrower and each other Credit Party expressly waive In the absence of any and all rights it may have to object to stipulation, the appointment will be deemed to have been made jointly and severally. 12.5 The Chargee may fix the remuneration of any Receiver appointed under this deed at an amount agreed between the Chargee and the Receiver or, in the absence of agreement, at a receiver as provided herein or to rate determined by the receiver’s operation or disposition of the receivership estateChargee.

Receivers. Borrower and each other Credit Party irrevocably agree that upon the occurrence of an Event of Default, Lender may obtain an order, ex parte, from a state or federal court appointing a receiver for (a) the business operations of Borrower and/or any of the other Credit Parties; (b) for the Collateral; and/or (c) for any or all of the assets and property rights of Borrower and/or of such other Credit Parties. Lender’s right to obtain an order ex parte from a state or federal court appointing a receiver as provided herein shall be as a matter of right and without notice to Borrower or any other Credit Party or anyone claiming under Borrower or any other Credit Party, and without regard to the then value of the Collateral or the interest of Borrower or any other Credit Party therein. BORROWER AND EACH OTHER CREDIT PARTY WAIVES ANY RIGHT TO A HEARING OR NOTICE OF HEARING PRIOR TO THE APPOINTMENT OF A RECEIVER AND IRREVOCABLY CONSENTS TO SUCH APPOINTMENT. Borrower and each other Credit Party irrevocably agree that any receiver appointed pursuant to this Section may have all of the powers and duties of receivers in like or similar cases, including the right, with Lender’s express written consent, to operate and sell all property of the receivership estate, and that such powers and duties shall be vested in the receiver until the later of (x) the date of confirmation of sale of the receivership estate, (y) the date of expiration of any redemption period, or (z) the date the receiver is discharged. All expenses incurred by the receiver or its agents, including obligations to repay funds borrowed by the receiver, shall constitute a part of the Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys’ fees incurred by the receiver and Lender, together with interest thereon at the default rate of interest from the date incurred until paid, and the balance shall be applied toward the Obligations or in such other manner as the court may direct. Borrower and each other Credit Party expressly waive any and all rights it may have to object to the appointment of a receiver as provided herein or to the receiver’s operation or disposition of the receivership estate.the

Receivers. Borrower and each other Credit Party irrevocably agree that upon the occurrence of an Event of Default, Lender may obtain an order, ex parte, from a state or federal court appointing a receiver for (a) the business operations of Borrower and/or any of the other Credit Parties; (b) for the Collateral; and/or (c) for any or all of the assets and property rights of Borrower and/or of such other Credit Parties. Lender’s right to obtain an order ex parte from a state or federal court appointing a receiver as provided herein shall be as a matter of right and without notice to Borrower or any other Credit Party or anyone claiming under Borrower or any other Credit Party, and without regard to the then value of the Collateral or the interest of Borrower or any other Credit Party therein. BORROWER AND EACH OTHER CREDIT PARTY WAIVES ANY RIGHT TO A HEARING OR NOTICE OF HEARING PRIOR TO THE APPOINTMENT OF A RECEIVER AND IRREVOCABLY CONSENTS TO SUCH APPOINTMENT. Borrower and each other Each Credit Party irrevocably agree agrees that any receiver appointed pursuant to this Section may have all of the powers and duties of receivers in like or similar cases, including the right, with Lender’s express written consent, to operate and sell all property of the receivership estate, and that such powers and duties shall be vested in the receiver until the later of (x) the date of confirmation of sale of the receivership estate, (y) the date of expiration of any redemption period, or (z) the date the receiver is discharged. All expenses incurred by the receiver or its agents, including obligations to repay funds borrowed by the receiver, shall constitute a part of the Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys’ fees incurred by the receiver and Lender, together with interest thereon at the default rate of interest from the date incurred until paid, and the balance shall be applied toward the Obligations or in such other manner as the court may direct. Borrower and each other Each Credit Party expressly waive waives any and all rights it may have to object to the appointment of a receiver as provided herein or to the receiver’s operation or disposition of the receivership estate.

Receivers. Borrower and each other Credit Party Debtor irrevocably agree agrees that upon the occurrence of an Event of Default, Lender Xxxxxx may obtain an order, ex parte, from a state or federal court appointing a receiver for (a) the business operations of Borrower and/or any of the other Credit PartiesDebtor; (b) for the UCC Collateral; and/or (c) for any or all of the assets and property rights of Borrower and/or of such other Credit PartiesDebtor. LenderXxxxxx’s right to obtain such an order ex parte from a state or federal such court appointing a receiver as provided herein shall be as a matter of right and without notice to Borrower or any other Credit Party Debtor or anyone claiming under Borrower or any other Credit Party, Debtor and without regard to the then value of the UCC Collateral or the interest of Borrower or any other Credit Party Debtor therein. BORROWER AND EACH OTHER CREDIT PARTY DEBTOR WAIVES ANY RIGHT TO A HEARING OR NOTICE OF HEARING PRIOR TO THE APPOINTMENT OF A RECEIVER AND IRREVOCABLY CONSENTS TO SUCH APPOINTMENT. Borrower and each other Credit Party Debtor irrevocably agree agrees that any receiver appointed pursuant to this Section may have all of the powers and duties of receivers in like or similar cases, including the right, with LenderXxxxxx’s express written consent, to operate and sell all property of the receivership estate, and that such powers and duties shall be vested in the receiver until the later of (x) the date of confirmation of sale of the receivership estate, ; (y) the date of expiration of any redemption period, ; or (z) the date the receiver is discharged. All expenses incurred by the receiver or its agents, including obligations to repay funds borrowed by the receiver, shall constitute a part of the Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys’ fees incurred by the receiver and Lender, together with interest thereon at the default rate of interest from the date incurred until paid, and the balance shall be applied toward the Obligations or in such other manner as the court may direct. Borrower and each other Credit Party expressly waive Debtor waives any and all rights it may have to object to the appointment of a receiver as provided herein or to the receiver’s operation or disposition of the receivership estate.