Common use of Right to Appoint a Receiver Clause in Contracts

Right to Appoint a Receiver. Upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any Security Document, the Collateral Agent shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Security Document, without notice to any Credit Party or any party claiming through any Credit Party, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the Collateral, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the Collateral, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral be segregated, sequestered and impounded for the benefit of the Collateral Agent, and each Credit Party irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; provided, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, of all cash held by or deposited with it pursuant to this Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts).

Appears in 3 contracts

Samples: Intercreditor and Collateral Agency Agreement, Intercreditor and Collateral Agency Agreement (Stonemor Partners Lp), Intercreditor and Collateral Agency Agreement (Stonemor Partners Lp)

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Right to Appoint a Receiver. Upon If an Enforcement Period is in effect, upon the filing of a xxxx bxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document proceedings to enforce the rights of the Collateral Agent Trustee under this Agreement Trust Agreement, any Second Priority Guarantee or any Second Priority Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Security Documentapplicable law, without notice to any Credit Party Satmex or the Second Priority Guarantors or any party claiming through any Credit PartySatmex or the Second Priority Guarantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Second Priority Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the a Collateral AgentTrustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and Satmex and each Credit Party of the Second Priority Guarantors irrevocably consents to the appointments appointment of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for pursuant to the benefit terms of the Secured CreditorsTrust Agreement, of all cash and Cash Equivalents held by or deposited with it pursuant to this Trust Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Second Priority Document.

Appears in 2 contracts

Samples: Collateral Trust Agreement (Satelites Mexicanos Sa De Cv), Second Priority Collateral Trust Agreement (Satelites Mexicanos Sa De Cv)

Right to Appoint a Receiver. Upon the filing If an Event of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any Security DocumentDefault has occurred and is continuing, the Collateral Agent shall, to the extent permitted by Law law and except to in accordance with the extent (if any) expressly forbidden by a Security DocumentAgreements, without notice to any Credit Party Grantor or any party claiming through any Credit PartyGrantor, except as provided in the Security Agreements, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations or the Term Loan B Obligations, without regard to the then value of the Collateral, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the Collateral, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral be segregated, sequestered and impounded for the benefit of the Collateral Agent, the Lenders and the Term Loan B Lenders, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash held by or deposited with it pursuant to this Collateral Agent Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Agreement.

Appears in 2 contracts

Samples: Credit Agreement (General Communication Inc), Credit Agreement (General Communication Inc)

Right to Appoint a Receiver. Upon If a Notice of Enforcement is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustees under this Agreement Trust Agreement, any Guarantee or any Security Document, the Collateral Agent Trustees shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Security Documentapplicable law, without notice to any Credit Party the Borrower or any party claiming through any Credit Partythe Borrower, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agenta Trustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustees and the Secured Parties, and each Credit Party the Borrower irrevocably consents to the appointments appointment of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Corporate Trustee shall be entitled to retain possession and control, for pursuant to the benefit terms of the Secured CreditorsTrust Agreement, of all cash held by or deposited with it pursuant to this Trust Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 2 contracts

Samples: Trust Agreement (Sprint Spectrum Finance Corp), Trust Agreement (Sprint Spectrum Finance Corp)

Right to Appoint a Receiver. Upon the filing If a Notice of a xxxx Acceleration is in equity or other effect, upon commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Collateral Trust Agreement or any Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Grantor but without notice to any Credit Party or any party claiming through any Credit Partythe Grantor, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral AgentTrustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Party the Grantor irrevocably and unconditionally consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents held by or deposited with it pursuant to this Collateral Trust Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 2 contracts

Samples: Collateral Trust Agreement (Blockbuster Inc), Collateral Trust Agreement (Blockbuster Inc)

Right to Appoint a Receiver. Upon If an Enforcement Period is in effect, upon the filing of a xxxx bxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document proceedings to enforce the rights of the Collateral Agent Trustee under this Agreement Trust Agreement, any First Priority Guarantee or any First Priority Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Security Documentapplicable law, without notice to any Credit Party Satmex or the First Priority Guarantors or any party claiming through any Credit PartySatmex or the First Priority Guarantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured First Priority Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the a Collateral AgentTrustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and Satmex and each Credit Party of the First Priority Guarantors irrevocably consents to the appointments appointment of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for pursuant to the benefit terms of the Secured CreditorsTrust Agreement, of all cash and Cash Equivalents held by or deposited with it pursuant to this Trust Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)First Priority Document.

Appears in 2 contracts

Samples: First Priority Collateral Trust Agreement (Satelites Mexicanos Sa De Cv), First Priority Collateral Trust Agreement (Satelites Mexicanos Sa De Cv)

Right to Appoint a Receiver. Upon If a Notice of Acceleration is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any other Security Document, the Collateral Agent shall, upon the direction of the Applicable Directing Parties, as provided herein, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Company but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the Collateral, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the Collateral, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral be segregated, sequestered and impounded for the benefit of the Collateral AgentAgent and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents constituting Collateral held by or deposited with it pursuant to this Agreement or any other Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 2 contracts

Samples: Collateral Agency and Intercreditor Agreement (FS Energy & Power Fund), Collateral Agency and Intercreditor Agreement (American Capital, LTD)

Right to Appoint a Receiver. Upon If a Notice of Acceleration is in -------------------------------- effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Trust Agreement or any Trust Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Company but without notice to any Credit Party or any party claiming through any Credit Partythe Obligors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Party Obligor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that -------- notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents held by or deposited with it pursuant to this Trust Agreement or any Trust Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 2 contracts

Samples: Trust Agreement (Federal Mogul Corp), Trust Agreement (Federal Mogul Corp)

Right to Appoint a Receiver. Upon If a Notice of Acceleration is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Agreement or any other Trust Security Document, the Collateral Agent Trustee shall, upon the direction of the Directing Parties, as provided herein, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Company but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral AgentTrustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents constituting Collateral held by or deposited with it pursuant to this Agreement or any other Trust Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 2 contracts

Samples: Collateral Trust and Intercreditor Agreement (American Capital, LTD), Collateral Trust and Intercreditor Agreement (American Capital, LTD)

Right to Appoint a Receiver. Upon the filing of a xxxx bxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Loan Document to enforce the rights of the Collateral Agent a Secured Creditor under this Agreement or any Security Loan Document, the Collateral Agent said Secured Creditor shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Security Loan Document, without notice to any Credit Party or any party claiming through any Credit PartyNWB, without regard to the solvency or insolvency at the time of any Credit Party NWB or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the Collateral, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the Collateral, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Loan Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral be segregated, sequestered and impounded for the benefit the Secured Creditors, to be distributed to the Secured Creditors as set forth in Section 5.5 of the Collateral Agentthis Agreement, and each Credit Party NWB irrevocably consents to the appointments appointment of such receiver or receivers and to the entry of such order; provided, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, of all cash held by or deposited with it pursuant to this Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts).

Appears in 1 contract

Samples: Intercreditor Agreement (New World Brands Inc)

Right to Appoint a Receiver. Upon As long as a Notice of Acceleration is in effect and subject to compliance with subsection 3.7, upon the filing of a xxxx in bill xx equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Administrative Agent under this Agreement or any Security Document, the Collateral Administrative Agent shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the Collateral, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Administrative Agent) of the Collateral, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral be segregated, sequestered and impounded for the benefit of the Collateral AgentAdministrative Agent and the other Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; provided, that provided that, notwithstanding the appointment of any receiver, the Collateral Administrative Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents held by or deposited with it pursuant to this Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Master Security Agreement (Service Merchandise Co Inc)

Right to Appoint a Receiver. Upon If an Applicable Notice of Event of Default is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Collateral Trust Agreement or any Collateral Trust Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Loan Parties, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralCollateral Trust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be of the Collateral Agent) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Loan Party irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents held by or deposited with it pursuant to this Collateral Trust Agreement or any Collateral Trust Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Collateral Trust Agreement (Tenneco Inc)

Right to Appoint a Receiver. Upon the filing of a xxxx bxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any Security Document, which filing may be made only after the occurrence and during the continuance of an Event of Default, the Collateral Agent shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then current value of the CollateralCollateral Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be of the Collateral Agent) of the CollateralEstate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentAgent and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash cash, deposit and securities accounts and Permitted Investments held by or deposited with it, or over which it otherwise has control pursuant to this Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Collateral Sharing Agreement (Lucent Technologies Inc)

Right to Appoint a Receiver. Upon If a Notice of Event of Default is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Collateral Trust Agreement or any Trust Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Company but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment by a court of law of a receiver or receivers (who may be the Collateral AgentTrustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents (as defined in the Collateral Agreement) held by or deposited with it pursuant to this Collateral Trust Agreement or any Trust Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Collateral Trust and Intercreditor Agreement (T-Mobile US, Inc.)

Right to Appoint a Receiver. Upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any Security Document, which filing may be made only after the occurrence and during the continuance of an Event of Default, the Collateral Agent shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then current value of the CollateralCollateral Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be of the Collateral Agent) of the CollateralEstate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentAgent and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedPROVIDED that, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash cash, deposit and securities accounts and Permitted Investments held by or deposited with it, or over which it otherwise has control pursuant to this Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Collateral Sharing Agreement (Lucent Technologies Inc)

Right to Appoint a Receiver. Upon If a Notice of Acceleration has been received by the Collateral Trustee, is effective, and remains in effect, upon the filing of a xxxx bxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Agreement or any Trust Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except law, with at least 10 days prior written notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment by a court of law of a receiver or receivers (who may be the Collateral AgentTrustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers and duties as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral Agent, Trustee and the other Secured Parties to be applied in accordance with Section 3.4 and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Permitted Investments held by or deposited with it pursuant to this Agreement or any Trust Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Credit Agreement (General Motors Co)

Right to Appoint a Receiver. Upon If a Notice of Acceleration is in ------------------------------- effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Trust Agreement or any Trust Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Company but without notice to any Credit Party or any party claiming through any Credit Partythe Obligors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Party Obligor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that -------- notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents held by or deposited with it pursuant to this Trust Agreement or any Trust Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Trust Agreement (Federal Mogul Corp)

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Right to Appoint a Receiver. Upon If a Notice of Acceleration is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Agreement or any other Trust Security Document, the Collateral Agent Trustee shall, upon the written direction of the Directing Parties, as provided herein, to the extent permitted by Law law and except subject to the extent (if any) expressly forbidden by a Security Documentterms, conditions and provisions of the Intercreditor Agreement, with notice to the Company but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral AgentTrustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents constituting Collateral held by or deposited with it pursuant to this Agreement or any other Trust Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Collateral Trust Agreement (YRC Worldwide Inc.)

Right to Appoint a Receiver. Upon If a Notice of Acceleration is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Collateral Agency Agreement or any the Security DocumentAgreement, the Collateral Agent shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Security Documentlaw, without notice to any Credit Party the Pledgor or any party claiming through any Credit Partythe Pledgor, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the Collateral, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who which may be the Collateral Agent) of the Collateral Agent's right, title and interest in the Security Agreement and the Collateral, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of relating to the Collateral be segregated, sequestered and impounded for the benefit of the Collateral AgentAgent and the Secured Parties, and each Credit Party and, to the extent permitted by applicable law, the Pledgor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash held by or deposited with it pursuant to this Collateral Agency Agreement or any the Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Agreement.

Appears in 1 contract

Samples: Collateral Agency Agreement (Cogen Technologies Inc)

Right to Appoint a Receiver. Upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any other Security Document, the Collateral Agent shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralShared Collateral Estate or the Non-Shared Collateral Estate, and without requiring any bond from any complainant in such proceedings, after the occurrence and during the continuance of a Noticed Event of Default, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the CollateralShared Collateral Estate or the Non-Shared Collateral Estate, as the case may be, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the any such Collateral Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentAgent and the Applicable Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Agent, for the benefit of the Applicable Secured Parties, shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents held by or deposited with it pursuant to this Agreement or any other Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Collateral and Collateral Trust Agreement (Kerr McGee Corp /De)

Right to Appoint a Receiver. Upon If a Notice of Default is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustee under this Agreement or any Trust Security Document, the Collateral Agent Trustee shall, to the extent permitted by Law and except Law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral AgentTrustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Cash Equivalents held by or deposited with it pursuant to this Agreement or any Trust Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Intercompany Subordination Agreement (Tesla Motors Inc)

Right to Appoint a Receiver. Upon the filing of a xxxx in bill xx equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any Security Document, the Collateral Agent shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralCollateral Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be of the Collateral Agent) of the CollateralEstate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentAgent and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Permitted Investments held by or deposited with it pursuant to this Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Collateral Sharing Agreement (Lucent Technologies Inc)

Right to Appoint a Receiver. Upon If an Event of Default has occurred and is continuing, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any other Security Document, the Collateral Agent shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Security Document, without notice to any Credit Party Grantor or any party claiming through any Credit PartyGrantor, without regard to the solvency or insolvency at the time of any Credit Party Grantor or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the Joint Stock Collateral, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the Joint Stock Collateral, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Joint Stock Collateral be segregated, sequestered and impounded for the benefit of the Collateral Agent, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; provided, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash held by or deposited with it pursuant to this Agreement or any other Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Pledge Agreement (Genesis Health Ventures Inc /Pa)

Right to Appoint a Receiver. Upon If a Notice of Acceleration is in effect, upon the filing of a xxxx bill in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the enforxx xhe rights of the Collateral Agent Trustee under this Trust Agreement or any Security Documentthe Pledge Agreement, the Collateral Agent Trustee shall, to the extent permitted by Law and except law, with notice to the extent (Company, the Administrative Agent, the Public Debt Trustee and each other Secured Party, if any) expressly forbidden by a Security Document, but without notice to any Credit Party or any party claiming through any Credit Partythe Company, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustee and the Secured Parties, and each Credit Party the Company irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedPROVIDED that, that notwithstanding the appointment of any receiver, the Collateral Agent Trustee shall be entitled to retain possession and control, for the benefit control of the Secured CreditorsCollateral, of including, without limitation, all cash and Cash Equivalents held by or deposited with it pursuant to this Trust Agreement or the Pledge Agreement; PROVIDED FURTHER that, if the Notice of Acceleration in effect when any Security Document (other than Excluded Collateral required such receiver or receivers is or are, as the case may be, appointed pursuant to be deposited into Trust Accountsthis subsection 2.4 is cancelled in accordance with subsection 2.1(c), the Trustee shall promptly after any such cancellation remove any such receiver or receivers.

Appears in 1 contract

Samples: Joinder Agreement (Worthington Industries Inc)

Right to Appoint a Receiver. Upon If a Notice of Enforcement is in effect, upon the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent Trustees under this Agreement Trust Agreement, any Guarantee or any Security Document, the Collateral Agent Trustees shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Security Documentapplicable law, without notice to any Credit Party the Borrower or any party claiming through any Credit Partythe Borrower, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment or performance of any of the Secured Obligations, without regard to the then value of the CollateralTrust Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agenta Trustee) of the CollateralTrust Estate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Trust Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentTrustees and the Secured Parties, and each Credit Party the Borrower irrevocably consents to the appointments appointment of such receiver or receivers and to the entry of such order; provided, PROVIDED that notwithstanding the appointment of any receiver, the Collateral Agent Corporate Trustee shall be entitled to retain possession and control, for pursuant to the benefit terms of the Secured CreditorsTrust Agreement, of all cash held by or deposited with it pursuant to this Trust Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Trust Agreement (Pf Net Communications Inc)

Right to Appoint a Receiver. Upon the occurrence and during the continuance of an Event of Default followed by the filing of a xxxx in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any Security Loan Document, the Collateral Agent shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party other Pledgor or any party claiming through any Credit Partythe Pledgors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralCollateral Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be of the Collateral Agent) of the CollateralEstate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentAgent and the Secured Parties, and each Credit Party Pledgor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Permitted Investments held by or deposited with it pursuant to this Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Loan Document.

Appears in 1 contract

Samples: Pledge Agreement (Lifepoint Health, Inc.)

Right to Appoint a Receiver. Upon If a Facility Event of Default has occurred and is continuing, upon the filing of a xxxx in bill xx equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the rights of the Collateral Agent under this Agreement or any other Shared Security Document, the Collateral Agent shall, to the extent permitted by Law and except to the extent (if any) expressly forbidden by a Shared Security Document, without notice to any Credit Party the Borrower or any party claiming through any Credit Partythe Borrower, without regard to the solvency or insolvency at the time of any Credit Party the Borrower or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the Shared Collateral, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be the Collateral Agent) of the Shared Collateral, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Shared Collateral be segregated, sequestered and impounded for the benefit of the Collateral Agent, and each Credit Party the Borrower irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; provided, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash held by or deposited with it pursuant to this Agreement Agreement, any other Shared Security Document or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Secured Party Document.

Appears in 1 contract

Samples: Agreement (Primark Corp)

Right to Appoint a Receiver. Upon the filing of a xxxx bill in equity or other commencement of judicial proceedings or other applicable action set forth in any Security Document to enforce the enforxx xhe rights of the Collateral Agent under this Agreement or any Security Document, which filing may be made only after the occurrence and during the continuance of an Event of Default, the Collateral Agent shall, to the extent permitted by Law and except law, with notice to the extent (if any) expressly forbidden by a Security Document, Borrower but without notice to any Credit Party or any party claiming through any Credit Partythe Grantors, without regard to the solvency or insolvency at the time of any Credit Party or any other Person then liable for the payment of any of the Secured Obligations, without regard to the then value of the CollateralCollateral Estate, and without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers (who may be of the Collateral Agent) of the CollateralEstate, or any part thereof, and of the rents, issues, tolls, profits, royalties, revenues and other income thereof, pending such proceedings, with such powers as the court making such appointment or as the applicable Security Document, as the case may be, shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral Estate be segregated, sequestered and impounded for the benefit of the Collateral AgentAgent and the Secured Parties, and each Credit Party Grantor irrevocably consents to the appointments of such receiver or receivers and to the entry of such order; providedprovided that, that notwithstanding the appointment of any receiver, the Collateral Agent shall be entitled to retain possession and control, for the benefit of the Secured Creditors, control of all cash and Permitted Investments held by or deposited with it pursuant to this Agreement or any Security Document (other than Excluded Collateral required to be deposited into Trust Accounts)Document.

Appears in 1 contract

Samples: Collateral Sharing Agreement (Lucent Technologies Inc)

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