More than one Receiver Clause Samples
The 'More than one Receiver' clause defines the procedures and rights applicable when multiple receivers are appointed over a company's assets. It typically outlines how the receivers will coordinate their actions, divide responsibilities, and manage the company's property or affairs to avoid conflicts or duplication of efforts. This clause ensures that the interests of creditors are protected and that the receivership process remains orderly and efficient, preventing confusion or disputes that could arise from overlapping authority.
More than one Receiver. Where more than one Receiver is appointed, each joint Receiver shall have the power to act severally, independently of any other joint Receiver, except to the extent that the Collateral Agent may specify to the contrary in the appointment.
More than one Receiver. If more than one person is appointed as a Receiver under this Deed, such persons shall throughout the duration of their office (unless the documents appointing them state otherwise) be entitled to exercise all or any of the powers conferred on a Receiver under this Deed individually.
More than one Receiver. If more than one person is appointed as Receiver, the Collateral Agent may give the relevant persons power to act jointly or severally.
More than one Receiver. If there is more than one Receiver holding office at the same time, each Receiver may (unless the document appointing him states otherwise) exercise all of the powers conferred on a Receiver under this Deed individually and to the exclusion of any other Receiver.
More than one Receiver. If more than one Receiver is appointed, they may be appointed jointly and severally or jointly or severally. Fixed and Floating Charge H▇▇▇▇ ▇▇▇▇▇ YORK 26.3 Receiver is agent of Chargor A Receiver is the Chargor’s agent and the Chargor is solely responsible for the Receiver’s acts or defaults and for the Receiver’s remuneration.
More than one Receiver. If the Mortgagee appoints more than one Receiver, the Mortgagee may specify whether they may act individually or jointly.
More than one Receiver. If the Security Trustee appoints more than one Receiver, the Security Trustee may specify whether they may act individually or jointly.
More than one Receiver. If more than one person is appointed as the Receiver, the State may at its option specify whether the appointment and the rights of each appointee will be joint, or joint and several. If no specification is made, the appointment and the rights of each appointee will be joint and several.
More than one Receiver. If more than one person is appointed as a Receiver under this Deed, such persons shall throughout the duration of their office (unless the documents appointing them state otherwise) be entitled to exercise all or any of the powers conferred on a Receiver under this Deed individually. Borqs Technologies, Inc. (BVI) Debenture
More than one Receiver. If the Secured Party appoints more than one Receiver, the Secured Party may specify whether they may act individually or jointly.