Extension of Powers Clause Samples
The Extension of Powers clause grants additional authority to a party, typically expanding their rights or abilities beyond what is otherwise specified in the agreement. In practice, this may allow a trustee, agent, or manager to take actions not explicitly listed in the main contract, such as making investments, entering into contracts, or managing assets in unforeseen circumstances. The core function of this clause is to provide flexibility and ensure that the empowered party can effectively fulfill their responsibilities even when situations arise that were not anticipated at the time of drafting the agreement.
Extension of Powers. The power of sale or other disposal conferred on the Security Agent and on any Receiver by this Debenture shall operate as a variation and extension of the statutory power of sale under Section 101 of the Law of Property ▇▇▇ ▇▇▇▇ and such power shall arise (and the Secured Obligations shall be deemed due and payable for that purpose) on execution of this Debenture.
Extension of Powers of the Property Act shall not restrict the exercise by the Security Trustee of the statutory power of sale conferred on it by Section 24 of the Property Act (as varied or extended by this Debenture), and the security constituted by or pursuant to this Debenture shall become immediately exercisable and the statutory power of sale and all other powers conferred by Section 24 of the Property Act shall arise and may be exercised by the Security Trustee at any time after the security created under this Debenture has become enforceable under Clause 14.1 and the provisions of the Property Act relating to and regulating the exercise of the said power of sale shall, so far as they relate to the security constituted by or pursuant to this Debenture, be varied and extended accordingly.
Extension of Powers. From the date of this Deed but subject to Clause 15.2 (Powers Exercised on Delivery of Enforcement Notice) below, the provisions of the LPA are extended to authorise the Trustee or any Receiver upon such terms as it may think fit:
(A) to sell, exchange, licence or otherwise dispose of or otherwise deal with the Charged Property or any interest in the same, and to do so for shares, debentures or any other securities whatsoever, or in consideration of an agreement to pay all or part of the purchase price at a later date or dates, or an agreement to make periodical payments, whether or not the agreement is secured by an Encumbrance or a guarantee, or for such other consideration (if any) and upon such terms whatsoever as the Trustee may think fit, and also to grant any option to purchase;
(B) with a view to, or in connection with, the management or disposal of the Charged Property to carry out any transaction, scheme or arrangement which the Trustee or any Receiver may in its absolute discretion consider appropriate;
(C) to take possession of, get in and collect the Charged Property;
(D) to carry on and/or manage and/or concur in managing the business of the Issuer as it thinks fit and to demand, sue for and collect and get in all monies due to the Issuer as it thinks fit;
(E) to appoint and engage managers, agents and advisers upon such terms as to remuneration and otherwise and for such periods as it may determine, and to dismiss them;
(F) to bring, defend, submit to arbitration, negotiate, compromise, abandon and settle any claims and proceedings concerning the Charged Property;
(G) to transfer all or any of the Charged Property and/or any of the liabilities of the Issuer to any other company or body corporate whether or not formed or acquired for the purpose and whether or not an affiliate of the Trustee, the Issuer or the Servicer;
(H) to call up all or any portion of the uncalled capital (if any) of the Issuer;
(I) generally to carry out, or cause or authorise to be carried out, any transaction, scheme or arrangement whatsoever, whether or not similar to any of the foregoing, in relation to the Charged Property which it may consider expedient as effectually as if it were the absolute, sole legal and beneficial owner of the Charged Property, subject to any restrictions in the Transaction Documents;
(J) to pay and discharge, out of the profits and income of the Charged Property and the monies to be made by it in carrying on the business of the Issuer, the...
Extension of Powers. The power of sale or other disposal conferred on the Trustee and on any Receiver by this Debenture and each Mortgage shall operate as a variation and extension of the statutory power of sale under Section 101 of the Law of Property ▇▇▇ ▇▇▇▇ and such power shall arise (and the Secured UK Obligations shall be deemed due and payable for that purpose) on execution of this Debenture and each Mortgage.
Extension of Powers. The powers conferred by section 101 of the LPA as varied and extended by this Deed shall be deemed to arise (and the Secured Obligations shall be deemed due and payable for that purpose) immediately on execution of this Deed. Section 109(1) of the LPA 1925 shall not apply to this Deed.
Extension of Powers. Insofar as applicable the power of sale or other disposal conferred on the Security Trustee and on any Receiver by this Deed shall operate as a variation and extension of the statutory power of sale under Section 101 of the Law of Property Act 1925 and such power shall arise (and the Secured Obligat▇▇▇▇ ▇▇▇ll be deemed due and payable for that purpose) on execution of this Deed.
Extension of Powers the Receiver shall have, mutatis mutandis, the powers, authorities and discretions conferred upon the Note Trustee under this Note Trust Deed and any relevant Note Trust Deed Supplement, subject to such restrictions as the Note Trustee may think fit and subject in the case of the Issuer Jersey Secured Property to the Jersey Security Interests Law. Without prejudice to the generality of the foregoing, any Receiver appointed to the whole or substantially the whole of the Secured Property shall have the powers referred to in Schedule 1 of the Insolvency ▇▇▇ ▇▇▇▇;
Extension of Powers the exclusion of any part of the Secured Property of any Series from the appointment of the Receiver shall not preclude the Note Trustee from subsequently extending his appointment (or that of the Receiver replacing him) to that part;
Extension of Powers. From the date of this Deed and of a Legal Charge (as applicable) the provisions of the LPA relating to the power of sale and the other powers conferred by Sections 101(1) and (2) of the LPA are extended to authorise the relevant Chargee or any Receiver of its Charged Property or any part thereof, upon such terms as such Chargee or any Receiver may think fit and to the extent permitted by any applicable law:
13.1.1 with a view to, or in connection with, the management or disposal of its Charged Property, to carry out any transaction, development, scheme or arrangement which such Chargee or a Receiver may in its absolute discretion consider appropriate;
13.1.2 to take possession of, get in and collect its Charged Property with a view to, or in connection with the discharge of any Secured Liabilities or Subordinated Liabilities, as the case may be;
13.1.3 to carry on and/or manage and/or concur in managing the business of the Obligors as it thinks fit and to demand, ▇▇▇ for and collect and get in all monies due to the Obligors as it thinks fit;
13.1.4 to appoint and engage managers, agents and advisers upon such terms as to remuneration and otherwise and for such periods as it may determine, and to dismiss them;
13.1.5 to bring, defend, submit to arbitration, negotiate, compromise, abandon and settle any claims and proceedings concerning its Charged Property;
13.1.6 to transfer all or any of its Charged Property and/or any of the liabilities of the Obligors to any other company or body corporate whether or not formed or acquired for the purpose and whether or not an affiliate of the Borrower Security Trustee, the Subordinated Security Trustee or the Obligors;
13.1.7 to call up all or any portion of the uncalled capital (if any) of the Obligors;
13.1.8 generally to carry out, or cause or authorise to be carried out, any transaction, scheme or arrangement whatsoever, whether or not similar to any of the foregoing, in relation to its Charged Property which it may consider expedient as effectually as if it were the absolute and sole legal and beneficial owner of its Charged Property, subject to any restrictions in the Transaction Documents;
13.1.9 to pay and discharge, out of the profits and income of its Charged Property and the monies made by it in carrying on the businesses of the Obligors, the expenses incurred in and about the carrying on and management of any such businesses or in the exercise of any of the powers conferred by this Clause 13.1 (Extension of...
Extension of Powers. The power of sale or other powers conferred (or deemed by this Deed to be conferred) on the Chargee and on any Receiver by this Deed or the Conveyancing and Property Ordinance (as amended by this Deed) shall be exercisable at any time after the Security created pursuant to this Deed has become enforceable in accordance with Clauses 9(a) and (b) (Enforcement).