Common use of Appointment of a Receiver Clause in Contracts

Appointment of a Receiver. a) In every case of the Lenders issuing a Substitution Notice and the Procurer refusing to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above and the Procurer not electing to act as Receiver as per sub-clause 9.1 (b) hereof, the Lenders may institute protective legal proceedings for appointment of a receiver (the “Receiver”) to maintain, preserve and protect the assets held as security by the Lenders if such right is granted under the terms of the Financing Agreements. Initials: __________ Initials: __________ Strictly Confidential Property of BioCrude Technologies, Inc. Power Purchase Agreement (PPA) b) Provided that in event of the Procurer refusing to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above, and if the assets of the Project are, in the opinion of the Procurer, necessary and required for the operation and maintenance of the Project, the Procurer shall be entitled to elect to act as the Receiver for the purposes of this clause and be entitled to maintain, preserve and protect the said assets by engaging an operator/service provider to act on their behalf and the Lenders and Seller hereby consent and agree to the same. Upon the Procurer so intimating the Seller and the Lender's representative their desire to act as Receiver, the Seller and the Lender's representative shall co-operate with the Procurer to facilitate the same. c) Upon appointment of the Court appointed Receiver or the Procurer acting as Receiver, all the Receivables received by such Receiver shall be deposited by the Receiver in the bank account jointly designated by the Procurer and the Lenders. The Receiver shall be responsible for protecting the assets in receivership and shall render a true and proper account of the receivership to the lenders in accordance with the terms of its appointment. d) When acting as a Receiver or operator in accordance with this Article 9 or clause 4 (b), the Procurer shall be entitled to be remunerated for such services as may be determined by Central Electricity Regulatory Commission. Furthermore, when acting as a Receiver, the Procurer shall not be liable to the Lenders, the Lenders' Representative, Seller or any third party for any default under this Agreement, damage or loss to the Power Station or for any other reason whatsoever, except for willful default of the Procurer.

Appointment of a Receiver. a) In every case addition to all other remedies herein provided for, Mortgagor agrees that upon the occurrence of a Default, or any event or circumstance which, with the Lenders issuing lapse of time or the giving of notice, or both, would constitute a Substitution Notice and the Procurer refusing to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above and the Procurer not electing to act as Receiver as per sub-clause 9.1 (b) hereofDefault hereunder, the Lenders may institute protective legal proceedings for Mortgagee shall as a matter of right be entitled to the appointment of a receiver (or receivers for all or any part of the “Receiver”) Mortgaged Premises, whether such receivership be incident to maintaina proposed sale of such property or otherwise, preserve and protect without regard to the assets held as security value of the Mortgaged Premises or the solvency of any person or persons liable for the payment of the indebtedness secured hereby, and Mortgagor does hereby consent to the appointment of such receiver or receivers, waive any and all defenses to such appointment and agrees not to oppose any application therefor by the Lenders if such right Mortgagee, but nothing herein is granted to be construed to deprive the Mortgagee or any of the Banks of any other right, remedy or privilege they may now have under the terms law to have a receiver appointed; provided, however, that the appointment of such receiver, trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of the Financing Agreements. Initials: __________ Initials: __________ Strictly Confidential Property of BioCrude Technologies, Inc. Power Purchase Agreement (PPA) b) Provided that in event Mortgagee and the Banks to receive payment of the Procurer refusing rents and income pursuant to take over this Mortgage. Any money advanced by the Project Mortgagee in connection with any such receivership shall be a demand obligation owing by Mortgagor to the Mortgagee and shall bear interest from the Seller failing to operate date of making such advancement by the Project in accordance with clause 4 (c) above, Mortgagee until paid at the Default Rate and if the assets shall be a part of the Project are, in the opinion of the Procurer, necessary Said Indebtedness and required for the operation and maintenance of the Project, the Procurer shall be entitled to elect to act as the Receiver for the purposes of secured by this clause Mortgage and be entitled to maintain, preserve and protect the said assets by engaging an operator/service provider to act on their behalf and the Lenders and Seller hereby consent and agree to the same. Upon the Procurer so intimating the Seller and the Lender's representative their desire to act as Receiver, the Seller and the Lender's representative shall co-operate with the Procurer to facilitate the same. c) Upon appointment of the Court appointed Receiver or the Procurer acting as Receiver, all the Receivables received by such Receiver shall be deposited by the Receiver in the bank account jointly designated by the Procurer and the Lenders. The Receiver shall be responsible for protecting the assets in receivership and shall render a true and proper account of the receivership to the lenders in accordance with the terms of its appointment. d) When acting as a Receiver or operator in accordance with this Article 9 or clause 4 (b), the Procurer shall be entitled to be remunerated for such services as may be determined by Central Electricity Regulatory Commission. Furthermore, when acting as a Receiver, the Procurer shall not be liable to the Lenders, the Lenders' Representative, Seller or any third party for any default under this Agreement, damage or loss to the Power Station or for any other reason whatsoever, except for willful default of instrument securing the Procurersecured indebtedness.

Appointment of a Receiver. a) In every case addition to all other remedies herein provided for, Grantor agrees that upon the occurrence of a Default, or any event or circumstance which, with the Lenders issuing lapse of time or the giving of notice, or both, would constitute a Substitution Notice and the Procurer refusing to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above and the Procurer not electing to act as Receiver as per sub-clause 9.1 (b) hereofDefault hereunder, the Lenders may institute protective legal proceedings for Administrative Agent shall as a matter of right be entitled to the appointment of a receiver (or receivers for all or any part of the “Receiver”) Mortgaged Premises, whether such receivership be incident to maintaina proposed sale of such property or otherwise, preserve and protect without regard to the assets held as security value of the Mortgaged Premises or the solvency of any person or persons liable for the payment of the indebtedness secured hereby, and Grantor does hereby consent to the appointment of such receiver or receivers, waives any and all defenses to such appointment and agrees not to oppose any application therefor by the Lenders if such right Administrative Agent, but nothing herein is granted to be construed to deprive the Administrative Agent or any of the Banks of any other right, remedy or privilege it may now have under the terms law to have a receiver appointed; provided, however, that the appointment of such receiver, trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of the Financing Agreements. Initials: __________ Initials: __________ Strictly Confidential Property of BioCrude Technologies, Inc. Power Purchase Agreement (PPA) b) Provided that in event Administrative Agent and the Banks to receive payment of the Procurer refusing rents and income pursuant to take over this Deed of Trust. Any money advanced by the Project Administrative Agent in connection with any such receivership shall be a demand obligation owing by Grantor to the Administrative Agent and shall bear interest from the Seller failing to operate date of making such advancement by the Project in accordance with clause 4 (c) above, Administrative Agent until paid at the highest rate of interest for which Grantor may legally contract under applicable law and if the assets shall be a part of the Project are, in the opinion of the Procurer, necessary Said Indebtedness and required for the operation and maintenance of the Project, the Procurer shall be entitled to elect to act as the Receiver for the purposes secured by this Deed of this clause Trust and be entitled to maintain, preserve and protect the said assets by engaging an operator/service provider to act on their behalf and the Lenders and Seller hereby consent and agree to the same. Upon the Procurer so intimating the Seller and the Lender's representative their desire to act as Receiver, the Seller and the Lender's representative shall co-operate with the Procurer to facilitate the same. c) Upon appointment of the Court appointed Receiver or the Procurer acting as Receiver, all the Receivables received by such Receiver shall be deposited by the Receiver in the bank account jointly designated by the Procurer and the Lenders. The Receiver shall be responsible for protecting the assets in receivership and shall render a true and proper account of the receivership to the lenders in accordance with the terms of its appointment. d) When acting as a Receiver or operator in accordance with this Article 9 or clause 4 (b), the Procurer shall be entitled to be remunerated for such services as may be determined by Central Electricity Regulatory Commission. Furthermore, when acting as a Receiver, the Procurer shall not be liable to the Lenders, the Lenders' Representative, Seller or any third party for any default under this Agreement, damage or loss to the Power Station or for any other reason whatsoever, except for willful default of instrument securing the Procurersecured indebtedness.

Appointment of a Receiver. (a) In every case Upon the occurrence and during the continuance of any Event of Default, Beneficiary shall be entitled to apply at any time to the Lenders issuing a Substitution Notice and the Procurer refusing to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above and the Procurer not electing to act as Receiver as per sub-clause 9.1 (b) hereof, the Lenders may institute protective legal proceedings for appointment of a receiver (of the “Receiver”) to maintainProperty or any part thereof and of all rents, preserve incomes, profits, issues and protect revenues thereof, from whatever source derived by a court having jurisdiction thereof; and thereupon it is hereby expressly covenanted and agreed that the assets held as security court shall forthwith appoint such receiver with the usual powers and duties of receivers in like cases; and said appointment shall be made by the Lenders if such court as a matter of strict right is granted under to Beneficiary, and without reference to the terms adequacy or inadequacy of the Financing Agreementsvalue of the Property, or to the solvency or insolvency of Grantor or any party liable for the Obligations and without proof of waste or fraud by Grantor. Initials: __________ Initials: __________ Strictly Confidential Grantor hereby specifically waives the right to object to the appointment of a receiver as aforesaid and hereby expressly consents that such appointment shall be made as a matter of absolute right to Beneficiary. Grantor further agrees that subject to the approval of the appointing court, Beneficiary shall have the right to designate the person or entity to be appointed as receiver. In order to operate and maintain and preserve the Property and to prevent waste and impairment of BioCrude Technologiesits security, Inc. Power Purchase Agreement Beneficiary may, at its option, advance monies to the appointed receiver and all such sums advanced shall become Obligations and shall bear interest from the date of such advance at the Default Rate specified in the Loan Documents. (PPA) b) Provided that in event of the Procurer refusing to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above, and if the assets of the Project are, in the opinion of the Procurer, necessary and required for the operation and maintenance of the Project, the Procurer The receiver or its agents shall be entitled to elect enter upon and take possession of any and all of the Property, together with any and all businesses conducted thereon and all business assets used therewith or thereon, or any part or parts thereof, and to act operate and conduct the business or businesses, or complete construction of improvements, to the same extent and in the same manner as Grantor might lawfully do (including entering into, amending or terminating leases or other agreements in connection with the operation, maintenance and improvement of the Property). The receiver, personally or through its agents or attorneys, may exclude Grantor and its subsidiaries, agents, servants and employees wholly from the Property, and have, hold, use, operate, manage and control the same and each and every part thereof, and in the name of Grantor, its subsidiaries, or agents, exercise all of their rights and powers and use all of the then existing items of security and collateral, materials, current supplies, stores and assets and, at the expense of Grantor, maintain, restore, complete construction of, insure and keep insured, the properties, equipment, and apparatus provided or required for use in connection with such business or businesses, and make all such necessary and proper repairs, renewals and replacements and all such useful alterations, additions, betterments and improvements as the Receiver for the purposes of this clause and be entitled receiver may deem judicious. The receiver shall from time to maintain, preserve and protect the said assets by engaging an operator/service provider to act on their behalf and the Lenders and Seller hereby consent and agree time apply any net revenues in its possession to the same. Upon payment of the Procurer so intimating the Seller and the Lender's representative their desire to act as Receiver, the Seller and the Lender's representative shall co-operate with the Procurer to facilitate the sameObligations. (c) Upon appointment Such receivership shall, at the option of Beneficiary, continue until full payment of the Court appointed Receiver Note and all other sums hereby secured, or the Procurer acting as Receiver, all the Receivables received by such Receiver shall be deposited by the Receiver in the bank account jointly designated by the Procurer and the Lenders. The Receiver shall be responsible for protecting the assets in receivership and shall render a true and proper account of the receivership until title to the lenders in accordance with the terms of its appointment. d) When acting Property shall have been conveyed as a Receiver or operator in accordance with this Article 9 or clause 4 (b), the Procurer shall be entitled to be remunerated for such services as may be determined by Central Electricity Regulatory Commission. Furthermore, when acting as a Receiver, the Procurer shall not be liable to the Lenders, the Lenders' Representative, Seller or any third party for any default result of foreclosure sale under this Agreement, damage or loss to the Power Station or for any other reason whatsoever, except for willful default Deed of the ProcurerTrust.

Appointment of a Receiver. a) In every case Until one or more of the Lenders issuing a Substitution Notice Events of Default shall occur (but not thereafter), Mortgagor shall have possession of the Mortgaged Property and shall have the Procurer refusing right to take over use and enjoy the Project same and to receive the Seller failing rents thereof and therefrom. If one or more of the Events of Default shall occur, Mortgagee may apply, on ex parte motion to operate any court of competent jurisdiction, for the Project in accordance with clause 4 (c) above and the Procurer not electing to act as Receiver as per sub-clause 9.1 (b) hereof, the Lenders may institute protective legal proceedings for appointment of a receiver (to take charge of, manage, preserve, protect, complete construction of and operate the “Receiver”) Mortgaged Property and any business or businesses located thereon, to maintaincollect rents, preserve issues, profits and protect income therefrom from whatever source derived; to make all necessary and needed repairs to the assets held as security Mortgaged Property; to pay all taxes and assessments against the Mortgaged Property and insurance premiums for insurance thereon and thereupon it is hereby expressly covenanted and agreed that the court shall forthwith appoint such receiver with the usual powers and duties in like cases; and said appointment shall be made by the Lenders if court as a matter of strict right to the Mortgagee, and without reference to the adequacy or inadequacy of the value of the Mortgaged Property, or to the solvency or insolvency of the Mortgagor; and after payment of the expense of the receivership, including reasonable attorneys' fees to Mortgagee's attorney, and after compensation to the receiver for management and completion of the Mortgaged Property, to apply the net proceeds derived therefrom in reduction of the indebtedness secured hereby or in such other manner as such court shall direct. All expenses, fees and compensation incurred pursuant to a receivership approved by such court shall be secured by the lien of this Mortgage until paid. The Mortgagor hereby specifically waives the right is granted under to object to the appointment of a receiver as aforesaid and hereby consents that such appointment shall be made as an admitted equity and as a matter of absolute right to the Mortgagee and that the same may be done without notice to the Mortgagor or any other defendant to such suit and without the requirement of any other showing and without regard to the adequacy of the security. Mortgagor shall deliver to the receiver appointed pursuant to the provisions of this Section, or to Mortgagee in the event of entry pursuant to the terms of the Financing Agreements. Initials: __________ Initials: __________ Strictly Confidential Property of BioCrude Technologiespreceding Section, Inc. Power Purchase Agreement (PPA) b) Provided that in event all original records, books, bank accounts, leases, agreements, security deposits of the Procurer refusing tenants and all other materials relating to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above, and if the assets operation of the Project are, in the opinion of the Procurer, necessary and required for the operation and maintenance of the Project, the Procurer shall be entitled to elect to act as the Receiver for the purposes of this clause and be entitled to maintain, preserve and protect the said assets by engaging an operator/service provider to act on their behalf and the Lenders and Seller hereby consent and agree to the same. Upon the Procurer so intimating the Seller and the Lender's representative their desire to act as Receiver, the Seller and the Lender's representative shall co-operate with the Procurer to facilitate the sameMortgaged Property. c) Upon appointment of the Court appointed Receiver or the Procurer acting as Receiver, all the Receivables received by such Receiver shall be deposited by the Receiver in the bank account jointly designated by the Procurer and the Lenders. The Receiver shall be responsible for protecting the assets in receivership and shall render a true and proper account of the receivership to the lenders in accordance with the terms of its appointment. d) When acting as a Receiver or operator in accordance with this Article 9 or clause 4 (b), the Procurer shall be entitled to be remunerated for such services as may be determined by Central Electricity Regulatory Commission. Furthermore, when acting as a Receiver, the Procurer shall not be liable to the Lenders, the Lenders' Representative, Seller or any third party for any default under this Agreement, damage or loss to the Power Station or for any other reason whatsoever, except for willful default of the Procurer.

Appointment of a Receiver. a) In every case Until one or more of the Lenders issuing Events of Default shall occur (but not thereafter), Grantor shall have possession of the Mortgaged Property and shall have the right to use and enjoy the same and to receive the rents thereof and therefrom. If one or more of the Events of Default shall occur, and without the requirement of any other showing, Beneficiary shall be entitled as a Substitution Notice matter of right and to the Procurer refusing extent permitted by law, without notice to take over Grantor, and without regard to the Project and adequacy of the Seller failing security, to operate the Project in accordance with clause 4 (c) above and the Procurer not electing to act as Receiver as per sub-clause 9.1 (b) hereof, the Lenders may institute protective legal proceedings for immediate appointment of a receiver (of the “Receiver”) Mortgaged Property in an ex parte proceeding with all such other powers as the court or courts making such appointment shall confer to maintaintake charge of, preserve manage, preserve, protect, complete construction of and protect operate the assets held as security Mortgaged Property and any business or businesses located thereon; to collect rents, issues, profits and income therefrom from whatever source derived; to make all necessary and needed repairs to the Mortgaged Property; to pay all taxes and assessments against the Mortgaged Property and insurance premiums for insurance thereon and thereupon, it being hereby expressly covenanted and agreed that the court shall forthwith appoint such receiver with the usual powers and duties in like cases; and such appointment shall be made by the Lenders if court as a matter of strict right to the Beneficiary, and without reference to the adequacy or inadequacy of the value of the Mortgaged Property, or to the solvency or insolvency of Grantor and after payment of the expense of the receivership, including reasonable attorney's fees to Beneficiary's attorney, and after compensation to the receiver for management and completion of the Mortgaged Property, to apply the net proceeds derived therefrom in reduction of the Indebtedness secured hereby or in such other manner as such court shall direct. All expenses, fees and compensation incurred pursuant to a receivership approved by such court shall be secured by the lien of this Deed of Trust until paid. Grantor hereby specifically waives the right is granted under to object to the appointment of a receiver as aforesaid and hereby consents that such appointment shall be made as an admitted equity and as a matter of absolute right to the Beneficiary and that the same may be done without notice to Grantor or any other defendant to such suit and without the requirement of any other showing and without regard to the adequacy of the security. Grantor shall deliver to the receiver appointed pursuant to the provisions of this Section, or to Beneficiary in the event of entry pursuant to the terms of the Financing Agreements. Initials: __________ Initials: __________ Strictly Confidential Property of BioCrude Technologiespreceding Section, Inc. Power Purchase Agreement (PPA) b) Provided that in event all original records, books, bank accounts, Resident Agreement, agreements, security deposits of the Procurer refusing residents and all other materials relating to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above, and if the assets operation of the Project areMortgaged Property except those, if any, which Grantor is required to maintain as confidential or in the opinion of the Procurer, necessary and required for the operation and maintenance of the Project, the Procurer shall be entitled its possession pursuant to elect to act as the Receiver for the purposes of this clause and be entitled to maintain, preserve and protect the said assets by engaging an operator/service provider to act on their behalf and the Lenders and Seller hereby consent and agree to the sameapplicable Governmental Requirements. Upon the Procurer so intimating the Seller and the Lender's representative their desire to act as Receiver, the Seller and the Lender's representative shall co-operate with the Procurer to facilitate the same. c) Upon appointment of the Court appointed Receiver or the Procurer acting as Receiver, all the Receivables received by such Receiver shall be deposited by the Receiver in the bank account jointly designated by the Procurer and the Lenders. The Receiver shall be responsible for protecting the assets in receivership and shall render a true and proper account of the receivership to the lenders in accordance with the terms of its appointment. d) When acting as a Receiver or operator in accordance with this Article 9 or clause 4 (b), the Procurer shall be entitled to be remunerated for such services as may be determined by Central Electricity Regulatory Commission. Furthermore, when acting as a Receiver, the Procurer shall not be liable to the Lenders, the Lenders' Representative, Seller or any third party for any default under this Agreement, damage or loss to the Power Station or for any other reason whatsoever, except for willful default of the Procurer.4.4

Appointment of a Receiver. a) In every case Following the occurrence of the Lenders issuing a Substitution Notice and the Procurer refusing to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above and the Procurer not electing to act as Receiver as per sub-clause 9.1 (b) hereofan Event of Default, the Lenders may institute protective legal proceedings for appointment of a receiver may be appointed, with or without notice (except for such notice as is required by Governmental Requirements or applicable court), whereupon the “Receiver”) to maintain, preserve and protect the assets held as security by the Lenders if such right is granted under the terms of the Financing Agreements. Initials: __________ Initials: __________ Strictly Confidential Property of BioCrude Technologies, Inc. Power Purchase Agreement (PPA) b) Provided that in event of the Procurer refusing to take over the Project and the Seller failing to operate the Project in accordance with clause 4 (c) above, and if the assets of the Project are, in the opinion of the Procurer, necessary and required for the operation and maintenance of the Project, the Procurer receiver shall immediately be entitled to elect possession of all of the Property. Beneficiary’s right to act a receiver shall be absolute and unconditional. The receiver may be appointed without regard to the adequacy of any security for the Deed of Trust Obligations and Trustor shall immediately surrender possession of the Property to the receiver upon his appointment. The receiver shall have the right to take possession of the Property, to collect the Rents therefrom, to complete the construction of any structures or improvements in progress thereon, to rent the Property or any part thereof, to operate any business thereon, and to exercise such other rights as may be granted by the Receiver court pending such proceedings, and up to the time of redemption or issuance of a trustee’s or sheriff’s deed. Rents shall be applied to the costs and expenses of the receiver and the receivership, including costs of construction, and the balance shall be applied in the manner described in Section 7 hereof. The receiver shall have the power to borrow money from any person, including Beneficiary, for expenses of operating, preserving, maintaining and caring for the Property, and completing the construction in progress of any improvements or structures upon the Property, and all such borrowed sums, together with interest thereon, whether expended or not, shall be added to the Deed of Trust Obligations. The receiver may expend such borrowed money for the purposes described in this Section 19 during any redemption period and, upon any redemption, any unexpended amounts of this clause such borrowed money shall be credited on the redemption price of the Property. In addition, any reasonable, out-of-pocket costs incurred, or advances made, by Beneficiary in connection with the implementation or operation of the receivership, shall be added to the Deed of Trust Obligations, bear interest at the Default Rate and be entitled to maintain, preserve and protect the said assets secured by engaging an operator/service provider to act on their behalf and the Lenders and Seller hereby consent and agree to the same. Upon the Procurer so intimating the Seller and the Lender's representative their desire to act as Receiver, the Seller and the Lender's representative shall co-operate with the Procurer to facilitate the samethis Deed of Trust. c) Upon appointment of the Court appointed Receiver or the Procurer acting as Receiver, all the Receivables received by such Receiver shall be deposited by the Receiver in the bank account jointly designated by the Procurer and the Lenders. The Receiver shall be responsible for protecting the assets in receivership and shall render a true and proper account of the receivership to the lenders in accordance with the terms of its appointment. d) When acting as a Receiver or operator in accordance with this Article 9 or clause 4 (b), the Procurer shall be entitled to be remunerated for such services as may be determined by Central Electricity Regulatory Commission. Furthermore, when acting as a Receiver, the Procurer shall not be liable to the Lenders, the Lenders' Representative, Seller or any third party for any default under this Agreement, damage or loss to the Power Station or for any other reason whatsoever, except for willful default of the Procurer.