Common use of Powers of a Receiver Clause in Contracts

Powers of a Receiver. (a) Every Receiver appointed pursuant to clause 15.2 (Appointment of Receivers) shall have and be entitled to exercise all of the powers set out in paragraph (b) below in addition to (i) all the powers conferred by the Law of Property Act (as extended by this Debenture) on any receiver appointed under such Act and (ii) (whether or not such Receiver is an administrative receiver) all the powers of an administrative receiver set out in Schedule 1 to the Insolvency Act. (b) The powers referred to in the first sentence of paragraph (a) above are: (i) to take immediate possession of, get in and collect all or any part of the Secured Assets over which he is appointed; (ii) to carry on the business of the Borrower insofar as it relates to the Secured Assets over which he is appointed as it may think fit, including the entering into of contracts and the repudiation, rescission or variation of any contract to which the Borrower is a party, and the acquisition or hiring of assets; (iii) to make and effect all repairs and insurances and do all other acts which the Borrower might do in the ordinary course of its business or is obliged to do under the terms of this Debenture whether for the protection or for the improvement of the Secured Assets over which he is appointed as he may in his absolute discretion think fit; (iv) to appoint, discharge and vary the terms of employment or other engagement of managers, officers, agents, accountants, servants, workmen and others for the purposes of this Debenture upon such terms as to remuneration or otherwise as it may think proper; (v) for the purpose of exercising any of the powers, authorities and discretions conferred on it by or pursuant to this Debenture and/or of defraying any costs, charges, losses or expenses (including remuneration) which shall be incurred by it in the exercise thereof or for any other purpose, to raise and borrow money either unsecured or on the security of all or any part of the Secured Assets over which he is appointed either in priority to the Security or otherwise and generally on such terms and conditions as it may think fit and no person lending such money shall be concerned to enquire as to the propriety or purpose of the exercise of such power or to see to the application of any money so raised or borrowed; (vi) to sell, lease, exchange, grant options or licences over, convert into money and realise or otherwise deal with, all or any part of the Secured Assets over which he is appointed by public auction or private contract and generally in such manner and on such terms as it shall think proper. Without prejudice to the generality of the foregoing, it may do any of these things for a consideration consisting of cash, debentures or other obligations, shares, stock or other valuable consideration and any such consideration may be payable in a lump sum or by instalments spread over such period as it may think fit; (vii) to settle, adjust, refer to arbitration, compromise and arrange any claims, accounts, disputes, questions and demands with or by any person who is or claims to be a creditor of the Borrower or relating in any way to the Secured Assets over which he is appointed or any part thereof; (viii) to bring, prosecute, enforce, defend and abandon any actions, suits and proceedings in relation to the Secured Assets over which he is appointed or any part thereof as may seem to it to be expedient; (ix) to give valid receipts for all moneys and execute all assurances and things which it may think proper or desirable for realising the Secured Assets over which he is appointed; (x) to form a Subsidiary or Subsidiaries of the Borrower (whether by acquisition or otherwise) and to supervise and manage the same and to transfer or otherwise dispose to any such Subsidiary all or any part of the Secured Assets over which he is appointed; (xi) to make or require the directors of the Borrower to make calls upon the holders of share capital in the Borrower and to enforce payment of any unpaid calls as it sees fit; (xii) to enter into or otherwise grant guarantees, indemnities or otherwise incur obligations in respect of the liabilities of third parties and to make payments due in relation to the same; and (xiii) to do all such other acts and things as it may consider desirable or necessary for realising all or any part of the Secured Assets over which he is appointed or incidental or conducive to any of the matters, powers or authorities conferred on a Receiver under or by virtue of this Debenture; to exercise in relation to all or any part of the Secured Assets over which he is appointed all such powers, authorities and things as it would be capable of exercising if it were the absolute beneficial owner of the same; and to use the name of the Borrower for all or any of such purposes.

Powers of a Receiver. (a) Every Receiver appointed pursuant 9.1 In addition to clause 15.2 (Appointment of Receivers) those powers conferred by law, a receiver shall have and be entitled to exercise in relation to the Mortgagor all of the powers set out in paragraph below: (ba) below in addition to (i) exercise all rights of the powers conferred by the Law of Property Act (as extended by Mortgagee under or pursuant to this Debenture) on any receiver appointed under such Act Mortgage including all voting and (ii) (whether or not such Receiver is an administrative receiver) all the powers of an administrative receiver set out in Schedule 1 other rights attaching to the Insolvency Act.Mortgaged Property; (b) The powers referred to in the first sentence of paragraph (a) above are: (i) to take immediate possession of, get in and collect all or any part of the Secured Assets over which he is appointed; (ii) to carry on the business of the Borrower insofar as it relates to the Secured Assets over which he is appointed as it may think fit, including the entering into of contracts and the repudiation, rescission or variation of any contract to which the Borrower is a party, and the acquisition or hiring of assets; (iii) to make and effect all repairs and insurances and do all other acts which the Borrower might do in the ordinary course of its business any arrangement or is obliged to do under the terms of this Debenture whether for the protection or for the improvement of the Secured Assets over which he is appointed compromise with others as he may in his absolute discretion shall think fit; (ivc) to appoint, discharge and vary the terms of employment or other engagement of appoint managers, officers, agents, accountants, servants, workmen officers and others agents for the above purposes of this Debenture upon at such terms remuneration as to remuneration or otherwise as it the receiver may think properdetermine; (vd) for to redeem any prior encumbrance and settle and pass the purpose of exercising any accounts of the powers, authorities encumbrancer and discretions conferred any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on it by or pursuant to this Debenture and/or of defraying any costs, charges, losses or expenses (including remuneration) which the Mortgagor and the money so paid shall be deemed an expense properly incurred by it in the exercise thereof or for any other purpose, to raise and borrow money either unsecured or on the security of all or any part of the Secured Assets over which he is appointed either in priority to the Security or otherwise and generally on such terms and conditions as it may think fit and no person lending such money shall be concerned to enquire as to the propriety or purpose of the exercise of such power or to see to the application of any money so raised or borrowedreceiver; (vie) to sell, lease, exchange, grant options pay the proper administrative charges in respect of time spent by his agents and employees in dealing with matters raised by the receiver or licences over, convert into money and realise or otherwise deal with, all or any part relating to the receivership of the Secured Assets over which he is appointed by public auction or private contract and generally in such manner and on such terms as it shall think proper. Without prejudice to the generality of the foregoing, it may do any of these things for a consideration consisting of cash, debentures or other obligations, shares, stock or other valuable consideration and any such consideration may be payable in a lump sum or by instalments spread over such period as it may think fitMortgagor; (viif) without prejudice to settleClause 6.13, adjustto withdraw any Restrictions Notice issued by the Company with respect to any Mortgaged Property, refer to arbitration, compromise and arrange any claims, accounts, disputes, questions and demands with or where such withdrawal is permitted by any person who is or claims to be a creditor section 273 of the Borrower or relating in any way Companies Law and to instruct the Secured Assets over which he is appointed or any part thereof; (viii) to bring, prosecute, enforce, defend and abandon any actions, suits and proceedings in relation to the Secured Assets over which he is appointed or any part thereof as may seem to it to be expedient; (ix) to give valid receipts for all moneys and execute all assurances and things which it may think proper or desirable for realising the Secured Assets over which he is appointed; (x) to form a Subsidiary or Subsidiaries registered office provider of the Borrower (whether by acquisition or otherwise) and Company to supervise and manage the same and to transfer or otherwise dispose remove any notation relating to any such Subsidiary all or any part Restrictions Notice from the Register of the Secured Assets over which he is appointed; (xi) to make or require the directors of the Borrower to make calls upon the holders of share capital in the Borrower and to enforce payment of any unpaid calls as it sees fit; (xii) to enter into or otherwise grant guarantees, indemnities or otherwise incur obligations in respect of the liabilities of third parties and to make payments due in relation to the sameBeneficial Ownership; and (xiiig) to do all such other acts and things as it may consider desirable or necessary for realising all or any part of be considered by the Secured Assets over which he is appointed or receiver to be incidental or conducive to any of the matters, above matters or powers or authorities conferred on a Receiver under otherwise incidental or by virtue of this Debenture; conducive to exercise in relation to all the preservation, improvement or any part realisation of the Secured Assets over which he is appointed all such powers, authorities and things as it would be capable of exercising if it were Mortgaged Property or the absolute beneficial owner of the same; and to use the name of the Borrower for all or any of such purposesvalue thereof.