Common use of RIGHTS OF AGENT TO APPOINT RECEIVER Clause in Contracts

RIGHTS OF AGENT TO APPOINT RECEIVER. Without limiting and in addition to any other rights, options and remedies Agent has under the Loan Documents, the UCC, at law or in equity, upon the occurrence and continuation of an Event of Default, Agent shall have the right to apply for and have a receiver appointed by a court of competent jurisdiction in any action taken by Agent to enforce its and Lenders' rights and remedies in order to manage, protect and preserve the Collateral and continue the operation of the business of Borrower and to collect all revenues and profits thereof and apply the same to the payment of all expenses and other charges of such receivership including the compensation of the receiver and to the payments as aforesaid until a sale or other disposition of such Collateral shall be finally made and consummated.

RIGHTS OF AGENT TO APPOINT RECEIVER. Without limiting and in addition to any other rights, options and remedies Agent has and Lenders have under the Loan Documents, the UCC, at law or in equity, upon the occurrence and continuation of an Event of Default, Agent and Lenders shall have the right to apply for and have a receiver appointed by a court of competent jurisdiction in any action taken by Agent to enforce its and Lenders' rights and remedies in order to manage, protect and preserve the Collateral and continue the operation of the business of Borrower Borrowers and to collect all revenues and profits thereof and apply the same to the payment of all reasonable expenses and other charges of such receivership including the reasonable compensation of the receiver and to the payments as aforesaid until a sale or other disposition of such Collateral shall be finally made and consummated.