Common use of Appointment of a Receiver Clause in Contracts

Appointment of a Receiver. 8.1 At any time after: (a) the occurrence of an Event of Default which is continuing; or (b) a request has been made by the Mortgagor to the Mortgagee for the appointment of a receiver over its assets or in respect of such Mortgagor, then notwithstanding the terms of any other agreement between the Mortgagor and any person, the Mortgagee may (unless precluded by law) appoint in writing any person or persons to be a receiver or receiver and manager of all or any part of the Mortgaged Property as the Mortgagee may choose in its entire discretion. 8.2 Where more than one receiver is appointed, the appointees shall have power to act jointly or separately unless the Mortgagee shall specify to the contrary. 8.3 The Mortgagee may from time to time determine the remuneration of a receiver. 8.4 The Mortgagee may remove a receiver from all or any of the Mortgaged Property of which he/she is the receiver and after the receiver has vacated office or ceased to act in respect of any of the Mortgaged Property, appoint a further receiver over all or any of the Mortgaged Property in respect of which he/she shall have ceased to act. 8.5 Such an appointment of a receiver shall not preclude: (a) the Mortgagee from making any subsequent appointment of a receiver over all or any Mortgaged Property over which a receiver has not previously been appointed or has ceased to act; or (b) the appointment of an additional receiver to act while the first receiver continues to act. 8.6 The receiver shall be the agent of the relevant Mortgagor (which shall be solely liable for his/her acts, defaults and remuneration). The receiver shall not at any time become the agent of the Mortgagee.

Appointment of a Receiver. 8.1 At any time after: (a) In every case of the occurrence of an Event of Default which is continuing; or 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) a request has been made by hereof, the Mortgagor to the Mortgagee Lenders may institute protective legal proceedings for the appointment of a receiver over its (the “Receiver”) to maintain, preserve and protect the assets or in respect of held as security by the Lenders if such Mortgagor, then notwithstanding right is granted under the terms of the Financing Agreements. 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 agreement between the Mortgagor and any personreason whatsoever, the Mortgagee may (unless precluded by law) appoint in writing any person or persons to be a receiver or receiver and manager of all or any part except for willful default of the Mortgaged Property as the Mortgagee may choose in its entire discretionProcurer. 8.2 Where more than one receiver is appointed, the appointees shall have power to act jointly or separately unless the Mortgagee shall specify to the contrary. 8.3 The Mortgagee may from time to time determine the remuneration of a receiver. 8.4 The Mortgagee may remove a receiver from all or any of the Mortgaged Property of which he/she is the receiver and after the receiver has vacated office or ceased to act in respect of any of the Mortgaged Property, appoint a further receiver over all or any of the Mortgaged Property in respect of which he/she shall have ceased to act. 8.5 Such an appointment of a receiver shall not preclude: (a) the Mortgagee from making any subsequent appointment of a receiver over all or any Mortgaged Property over which a receiver has not previously been appointed or has ceased to act; or (b) the appointment of an additional receiver to act while the first receiver continues to act. 8.6 The receiver shall be the agent of the relevant Mortgagor (which shall be solely liable for his/her acts, defaults and remuneration). The receiver shall not at any time become the agent of the Mortgagee.

Appointment of a Receiver. 8.1 At any time after: (a) Until one or more of the occurrence of an Event Events of Default which is continuingshall 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 matter of right and to the extent permiKed by law, without notice to Grantor, and without regard to the adequacy of the security, to the immediate appointment of a receiver of the Mortgaged Property in an ex parse proceeding with all such other powers as the court or courts making such appointment shall confer to take charge of, manage, preserve, protect, complete construction of and operate the Mortgaged Property and any business or businesses located thereon; or (b) a request has been 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 Mortgagor court as a matter of strict right to the Mortgagee 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 anorney, 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 to object to the appointment of a receiver over its assets as aforesaid and hereby consents that such appointment shall be made as an admired 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 respect the event of such Mortgagor, then notwithstanding entry pursuant to the terms of any the preceding Section, all original records, books, bank accounts, Resident Agreement, agreements, security deposits of the residents and all other agreement between materials relating to the Mortgagor and any person, the Mortgagee may (unless precluded by law) appoint in writing any person or persons to be a receiver or receiver and manager of all or any part operation of the Mortgaged Property except those, if any, which Grantor is required to maintain as the Mortgagee may choose confidential or in its entire discretionpossession pursuant to applicable Governmental Requirements. 8.2 Where more than one receiver is appointed, the appointees shall have power to act jointly or separately unless the Mortgagee shall specify to the contrary. 8.3 The Mortgagee may from time to time determine the remuneration of a receiver. 8.4 The Mortgagee may remove a receiver from all or any of the Mortgaged Property of which he/she is the receiver and after the receiver has vacated office or ceased to act in respect of any of the Mortgaged Property, appoint a further receiver over all or any of the Mortgaged Property in respect of which he/she shall have ceased to act. 8.5 Such an appointment of a receiver shall not preclude: (a) the Mortgagee from making any subsequent appointment of a receiver over all or any Mortgaged Property over which a receiver has not previously been appointed or has ceased to act; or (b) the appointment of an additional receiver to act while the first receiver continues to act. 8.6 The receiver shall be the agent of the relevant Mortgagor (which shall be solely liable for his/her acts, defaults and remuneration). The receiver shall not at any time become the agent of the Mortgagee.

Appointment of a Receiver. 8.1 At any time after: (a) the occurrence of an Event of Default which is continuingDefault; or (b) a request has been made by the Mortgagor to the Mortgagee for the appointment of a receiver over its assets or in respect of such the Mortgagor, then notwithstanding the terms of any other agreement between the Mortgagor and any person, the Mortgagee may (unless precluded by law) appoint in writing any person or persons to be a receiver or receiver and manager of all or any part of the Mortgaged Property as the Mortgagee may choose in its entire discretion. 8.2 Where more than one receiver is appointed, the appointees shall have power to act jointly or separately unless the Mortgagee shall specify to the contrary. 8.3 The Mortgagee may from time to time determine the remuneration of a receiver. 8.4 The Mortgagee may remove a receiver from all or any of the Mortgaged Property of which he/she he is the receiver and after the receiver has vacated office or ceased to act in respect of any of the Mortgaged Property, appoint a further receiver over all or any of the Mortgaged Property in respect of which he/she he shall have ceased to act. 8.5 Such an appointment of a receiver shall not preclude: (a) the Mortgagee from making any subsequent appointment of a receiver over all or any Mortgaged Property over which a receiver has not previously been appointed or has ceased to act; or (b) the appointment of an additional receiver to act while the first receiver continues to act. 8.6 The receiver shall be the agent of the relevant Mortgagor (which shall be solely liable for his/her his acts, defaults and remuneration). The receiver shall not at any time become the agent of the Mortgagee.

Appointment of a Receiver. 8.1 At any time after: (a) the occurrence of an Event of Default which (as long as an Event of Default is continuing); or (b) a request has been made by the Mortgagor to the Mortgagee Security Agent for the appointment of a receiver over its assets or in respect of such that Mortgagor, then notwithstanding the terms of any other agreement between the Mortgagor and any person, the Mortgagee Security Agent may (unless precluded by law) appoint in writing any person or persons to be a receiver or receiver and manager of all or any part of the Mortgaged Property Shares as the Mortgagee Security Agent may choose in its entire discretion. 8.2 Where more than one receiver is appointed, the appointees shall have power to act jointly or separately unless the Mortgagee Security Agent shall specify to the contrary. 8.3 The Mortgagee Security Agent may from time to time determine the remuneration of a receiver. 8.4 The Mortgagee Security Agent may remove a receiver from all or any of the Mortgaged Property Shares of which he/she he is the receiver and after the receiver has vacated office or ceased to act in respect of any of the Mortgaged PropertyShares, appoint a further receiver over all or any of the Mortgaged Property Shares in respect of which he/she he shall have ceased to act. 8.5 Such an appointment of a receiver shall not preclude: (a) the Mortgagee Security Agent from making any subsequent appointment of a receiver over all or any Mortgaged Property Shares over which a receiver has not previously been appointed or has ceased to act; or (b) the appointment of an additional receiver to act while the first receiver continues to act. 8.6 The receiver shall be the agent of the relevant Mortgagor (which shall be solely liable for his/her his acts, defaults and remuneration)) unless and until the Mortgagor is placed into liquidation, after which time he shall act as principal. The receiver shall not at any time become the agent of the MortgageeSecurity Agent.