Powers of Receiver. Each Receiver appointed under this Security Agreement shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretions: (a) all the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇; (b) all the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents; (c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance on any Account; (d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business of the Chargor; (e) to give a valid receipt for any moneys and execute any assurance or thing which may be necessary or desirable for realising any Charged Property; (f) to exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property; (g) to redeem any prior Security on or relating to the Charged Property and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver; (h) to exercise in relation to any Charged Property all the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Property; and (i) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he may think fit.
Appears in 1 contract
Sources: Security Agreement (Paysafe LTD)
Powers of Receiver. Each A Receiver so appointed under this Security Agreement shall have (subject to any limitations or restrictions which be the Security Agent may incorporate in agent of the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ Chargor and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ Chargor shall extend to every Receiver, whether or not an administrative receiverbe solely responsible for his acts and defaults and remuneration. In addition, notwithstanding any liquidation of the Chargor, each Such Receiver shall have the following rights, powers and discretionspower:
(ai) all Entry onto land : to enter into and take possession of or control any land or premises of the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors Chargor or any part thereof or collect and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇;
(b) all the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents;
(c) to take immediate possession of, get in and collect any Charged Property and for that purpose to require payment to it take any proceedings in the name of the Chargor or to the Security Agent of any monetary claims or credit balance on any Account;otherwise as may seem expedient:
(dii) Carry on business : to bringcarry on, prosecute, enforce, defend manage or concur in carrying on and abandon any action, suit and proceedings in relation to any Charged Property or any managing the business of the Chargor;
(e) to give a valid receipt Chargor or any part thereof including the power where the Chargor has one or more subsidiaries of supervising, controlling and financing such subsidiary or subsidiaries and its or their business or businesses and the conduct thereof and for any moneys of those purposes to raise or borrow any money from the Lender or any other person to rank for payment in priority to the security constituted by or pursuant to this Debenture and execute any assurance with or thing which without a mortgage or charge that may be necessary or desirable for realising any Charged Property;
(f) to exercise all voting and other rights attaching to required upon the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect security of the Shares and stocks, shares and other securities owned by the Chargor and comprised in whole or any part of the Charged Property;
(giii) to redeem Call on Shares : where any prior Security on capital in respect of any such capital or relating to the Charged Property and settle and pass the accounts shares of the person entitled Chargor is outstanding and uncalled to that prior Security, require the directors of the Chargor forthwith to call up all or so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on much of such uncalled capital of the Chargor and the money to enforce payment of calls so paid shall be deemed to be an expense properly incurred made and any previous unpaid calls by the Receiver;
(h) to exercise taking proceedings in relation to any Charged Property all the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Property; and
(i) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for or his own name or otherwise as may seem expedient and as may be sufficient to pay to the Lender all such purposesmoneys then due and owing hereunder,
(iv) Sell or Lease Property : forthwith and without restriction to sell, lease, surrender or otherwise dispose of or agree in selling, leasing, accepting surrenders or otherwise disposing (obtaining only when and in each case may use where necessary the name leave of the Chargor Court) of the whole or any part of the Charged Property and exercise for this purpose. (0 sever. if necessary, plant, machinery and other fixtures from the relevant power in any manner which land) by public auction or by private contract on such term and conditions as he may think fit., with power to vary any contract for sale and to resell without being answerable for any loss occasioned thereby; any such sale may be for cash, shares or stocks, debenture stock or other valuable consideration to be paid or satisfied at such time or times as the Receiver shall think fit;
Appears in 1 contract
Sources: Debenture (Astrata Group Inc)
Powers of Receiver. Each 13.1 Any Receiver appointed by the Secured Party may be any person licensed as a trustee under this Security Agreement the Bankruptcy and Insolvency Act (Canada), and the Secured Party may remove any Receiver so appointed and appoint another or others instead. Any Receiver appointed shall have act as agent for the Secured Party for the purposes of taking possession of the Collateral, and (subject to except as provided below) as agent for the Debtor for all other purposes, including the occupation of any limitations or restrictions which premises of the Debtor and in carrying on the Debtor's business. For the purposes of realizing upon the Security Agent Interest, the Receiver may incorporate sell, lease, or otherwise dispose of Collateral as agent for the Debtor or as agent for the Secured Party as it may determine in the deed or instrument appointing it) its discretion. The Debtor agrees to ratify and confirm all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation actions of the ChargorReceiver acting as agent for the Debtor, each and to release and indemnify the Receiver in respect of all such actions. Any Receiver so appointed shall have the following rights, powers and discretionspower:
(a) to enter upon, use, and occupy all the rights conferred premises owned or occupied by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇Debtor;
(b) all to take possession of the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt DocumentsCollateral;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to carry on the Security Agent business of any monetary claims or credit balance on any Accountthe Debtor;
(d) to bringborrow money required for the maintenance, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property preservation or any protection of the Collateral or for the carrying on of the business of the ChargorDebtor, and in the discretion of such Receiver, to charge and grant further security interests in the Collateral in priority to the Security Interest, as security for the money so borrowed;
(e) to give a valid receipt sell, lease, or otherwise dispose of the Collateral in whole or in part and for any moneys cash or credit, or part cash and execute any assurance or thing which may be necessary or desirable for realising any Charged Propertypart credit on such terms and conditions and in such manner as the Receiver shall determine in its discretion;
(f) to exercise demand, commence, continue or defend any judicial or administrative proceedings for the purpose of protecting, seizing, collecting, realizing or obtaining possession or payment of the Collateral, and to give valid and effectual receipts and discharges therefor and to compromise or give time for the payment or performance of all voting and or any part of the Accounts or any other rights attaching obligation of any third party to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property;Debtor; and
(g) to redeem exercise any prior Security on rights or relating to the Charged Property and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred remedies which could have been exercised by the Receiver;
(h) to exercise in relation to any Charged Property all Secured Party against the powers, authorities and things which he would be capable of exercising if he were Debtor or the absolute beneficial owner of that Charged Property; and
(i) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he may think fitCollateral.
Appears in 1 contract
Powers of Receiver. Each Unless the terms of a Receiver’s appointment state otherwise, the Receiver appointed under this Security Agreement shall will have (subject full power to do all or any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretionsfollowing:
(a) all (Grantor obligations under this document) perform any obligation of the rights conferred by Grantor under this document or any other Finance Document including making payments to any person holding Security in the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇Secured Property;
(b) all (Grantor obligations general) perform, observe, carry out or enforce any deeds, contracts, obligations or rights of the rights expressed to be conferred upon the Security Agent Grantor in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in respect of the Secured Debt DocumentsProperty;
(c) to (manage, possession, control) manage, take immediate possession of, or take control of, collect and get in and collect any Charged the Secured Property and for that purpose to require payment to it take proceedings (in the name of the Grantor or to the Security Agent of any monetary claims or credit balance on any Accountotherwise);
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business (give up possession) give up possession of the ChargorSecured Property;
(e) to give a valid receipt (dealings without possession) deal with the Secured Property without taking possession and without liability for any moneys and execute any assurance Loss resulting from failing to take possession or thing which may be necessary the need to account as Secured Party or desirable for realising any Charged Propertymortgagee in possession;
(f) to (exercise Secured Party's rights)
(i) exercise all voting or any of the Secured Party's powers, rights, discretions and other rights attaching to remedies under this document; and
(ii) comply with the Shares and stocks, shares and other securities owned directions given by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged PropertySecured Party;
(g) to redeem any prior Security (carry on business)
(i) carry on or relating agree to carry on the Charged business of the Grantor in and with the Secured Property and settle to stop doing so; and
(ii) effect all repairs, purchases and pass insurances, and generally to do everything that the accounts Grantor might do in the ordinary conduct of its business to:
(A) protect or improve the person entitled Secured Property; or
(B) obtain income or returns from the Secured Property and to that prior Securityconduct the Grantor's business, so that without being responsible for any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the ReceiverLoss;
(h) to exercise (borrow)
(i) borrow from the Secured Party or (with the Secured Party's consent) any other person any amount that may be required for any of the purposes mentioned in relation to any Charged Property all the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Propertyclause 9.3(g); and
(iii) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor Grantor or otherwise) secure any amount borrowed by granting a Security in the Secured Property so that the Security may rank in priority to, equally with or after the Security granted in clause 2.1, without the Secured Party being bound to enquire whether the borrowing is necessary or proper or responsible for all such purposesthe misapplication or non–application of any amount borrowed;
(i) (hire out, and lease or license) hire out, lease or license the Secured Property (including in each case may use the name of the Chargor Grantor) for any term at the rent or licence fee and on terms that seem desirable to the Receiver (with or without a purchase option and whether or not the Receiver has taken possession);
(j) (exercise rights) exercise all or any powers, rights, discretions and remedies of the relevant Grantor or in connection with the Secured Property (including rights available under the Corporations Act or any other statute);
(k) (registration) do everything necessary to obtain registration of the Secured Property in the Secured Party's name or in the name of the Secured Party's nominee;
(l) (settle disputes)
(i) settle, arrange and compromise any accounts, claims, questions or disputes that may arise in connection with the Grantor's business or the Secured Property or in any way relating to this document; and
(ii) execute releases or other discharges in relation to the settlement, arrangement, or compromise;
(m) (sell) sell (whether or not the Receiver has taken possession), exchange or otherwise dispose of (absolutely or conditionally) the Secured Property (or agree to do so):
(i) whether or not the Grantor has carried out any work on the Secured Property or otherwise prepared the Secured Property for sale;
(ii) with or without other property;
(iii) by public auction, private sale or tender for cash or on credit;
(iv) whether or not the reserve price for a sale by auction or tender is disclosed;
(v) in one lot or in parcels;
(vi) with or without special conditions, (such as conditions as to title or time or method of payment of purchase money) including by allowing the purchase money to remain:
(A) outstanding on any security over the property sold or over any other property; or
(B) owing without any security; and
(vii) on other terms the Receiver considers desirable, without being responsible for any loss;
(n) (transfer on sale) execute transfers and assignments of the Secured Property (including in the name of the Grantor), and do everything to complete any sale under clause 9.3(m) that the Receiver thinks necessary;
(o) (transfer to Crown) surrender, dedicate or transfer any real property constituting the Secured Property to the Crown or any Governmental Agency or exchange lands with any person (with or without receiving any money);
(p) (calls) make calls on the members of the Grantor in relation to the Grantor's uncalled capital, s▇▇ (in the name of the Grantor or otherwise) to recover amounts due in relation to calls, give valid receipts for those amounts and assign any power in relation to calls on the members of the Grantor;
(q) (services for use) provide services and equipment for use with the Secured Property on any manner terms it thinks fit;
(r) (approvals) prepare plans and specifications and obtain approvals from any Governmental Agency in relation to the Secured Property;
(s) (subdivision) subdivide, convert to strata title, community or Torrens title or consolidate the Secured Property and effect any necessary works on the Secured Property for this purpose;
(t) (create easements) create any easements or covenants affecting or in favour of the Secured Property and effect any necessary works on the Secured Property for this purpose;
(u) (property acquisition) acquire any additional property to develop, sell or lease with the Secured Property;
(v) (removal of chattels or fixtures) remove any chattels or fixtures from any real estate constituting the Secured Property and dispose of, sell, or otherwise deal with them (with or without receiving any money);
(w) (insure) insure the Secured Property that is of an insurable nature against risks of destruction, loss or damage for the amounts and on the terms that the Receiver thinks appropriate;
(x) (sever fixtures) sever fixtures belonging to the Grantor and sell them apart from any other part of the Secured Property;
(y) (employees and agents) engage employees, agents, consultants, lawyers, advisers and contractors for any of the purposes of this clause on terms that the Receiver thinks appropriate;
(z) (give receipts) give receipts for all money and other property that may come into the hands of the Receiver in exercise of any power given by this document;
(aa) (enforce contracts) carry out and enforce or otherwise obtain the benefit of all contracts:
(i) entered into or held by the Grantor in connection with the Secured Property; or
(ii) entered into in exercise of the powers given by this document;
(bb) (make debtors bankrupt) make debtors bankrupt and wind up companies or other applicable entities and do everything in connection with any bankruptcy or winding up that the Receiver thinks desirable to recover or protect Secured Property;
(cc) (execute documents) enter into and execute any document or agreement in the name of the Receiver or the name or on behalf of the Grantor including bills of exchange, cheques or promissory notes for any of the purposes of this document;
(dd) (vote) exercise any voting rights or powers in respect of any part of the Secured Property;
(ee) (perform undertakings) do everything necessary to perform any undertaking of the Grantor in this document;
(ff) (receive money) receive all money or other property payable or deliverable to the Grantor from the Secured Property;
(gg) (bank accounts) operate any bank account of the Grantor (including making deposits and withdrawals in connection with any bank account);
(hh) (file) file all certificates, registrations and other documents and take any and all action on behalf of any Grantor which he may think fitthe Receiver believes is necessary to protect, preserve or improve any or all of the Secured Property and/or the rights of any Grantor and/or the Secured Party corresponding to any Secured Property;
(ii) (desirable or incidental matters):
(i) do or cause to be done everything that the Receiver thinks desirable in the interests of the Secured Party; and
(ii) do anything incidental to the exercise of any other power;
(jj) (take legal proceedings) take proceedings (including in the name of the Grantor) in connection with any of the above; and
(kk) (compromise) make any settlement, arrangement or compromise regarding any action, proceeding or dispute arising in connection with the Secured Property, grant to any person involved time or other indulgence and execute all related releases or discharges as the Receiver thinks expedient in the interests of the Secured Party;
(ll) (appeal) appeal against or enforce any judgment or order in respect of the Secured Property;
(mm) (delegate) with the Secured Party's consent delegate any of the powers given to the Receiver by this clause to any person;
(nn) (ability of Grantor) do anything the Grantor could do in relation to the Secured Property;
(oo) (Do all other things) do all things the law allows an owner of any interest in the Secured Property, or any Controller of the Secured Property, to do;
(pp) (General) exercise all or any of the rights, powers, discretions or remedies given by law to mortgagees in possession, receivers or receivers and managers.
Appears in 1 contract
Sources: Securities Purchase Agreement (General Finance CORP)
Powers of Receiver. Each Receiver appointed under this Security Agreement Deed shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ Act 1925 and the Insolvency ▇▇▇ ▇▇▇▇ Act 1986 (each of which is deemed incorporated in this Security AgreementDeed), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ Act 1986 shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretionspower to:
(a) all the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇;
(b) all the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance on any Account;
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business of the Chargor;
(e) to give a valid receipt for any moneys and execute any assurance or thing which may be necessary or desirable for realising any Charged Property;
(f) to 12.2.1 exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property;
(g) to 12.2.2 redeem any prior Security on or relating to the Charged Property and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(h) 12.2.3 settle any claims, accounts, disputes, questions and demands with or by any person who is or claims to exercise in relation be a creditor of the Chargor or relating to any Charged Property all of the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Property; and
(i) to 12.2.4 do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he they may think fit.
Appears in 1 contract
Powers of Receiver. Each 13.1 Any Receiver appointed by the Secured Party may be any person licensed as a trustee under this Security Agreement the Bankruptcy and Insolvency Act (Canada), and the Secured Party may remove any Receiver so appointed and appoint another or others instead. Any Receiver appointed shall have (subject to except as provided below) act as agent for the Debtor for all purposes, including the occupation of any limitations or restrictions which premises of the Debtor and in carrying on the Debtor's business. For the purposes of realizing upon the Security Agent Interest, the Receiver may incorporate sell, lease, or otherwise dispose of Collateral as agent for the Debtor or as agent for the Secured Party as it may determine in the deed or instrument appointing it) its discretion. The Debtor agrees to ratify and confirm all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation actions of the ChargorReceiver acting as agent for the Debtor, each and to release and indemnify the Receiver in respect of all such actions. Any Receiver so appointed shall have the following rights, powers and discretionspower:
(a) to enter upon, use, and occupy all the rights conferred premises owned or occupied by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇Debtor;
(b) all to take possession of the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt DocumentsCollateral;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to carry on the Security Agent business of any monetary claims or credit balance on any Accountthe Debtor;
(d) to bringborrow money required for the maintenance, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property preservation or any protection of the Collateral or for the carrying on of the business of the ChargorDebtor, and in the discretion of such Receiver, to charge and grant further security interests in the Collateral in priority to the Security Interest, as security for the money so borrowed;
(e) to give a valid receipt sell, lease, or otherwise dispose of the Collateral in whole or in part and for any moneys cash or credit, or part cash and execute any assurance or thing which may be necessary or desirable for realising any Charged Propertypart credit on such terms and conditions and in such manner as the Receiver shall determine in its discretion;
(f) to exercise demand, commence, continue or defend any judicial or administrative proceedings for the purpose of protecting, seizing, collecting, realizing or obtaining possession or payment of the Collateral, and to give valid and effectual receipts and discharges therefor and to compromise or give time for the payment or performance of all voting and or any part of the Accounts or any other rights attaching obligation of any third party to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property;Debtor; and
(g) to redeem exercise any prior Security on rights or relating to the Charged Property and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred remedies which could have been exercised by the Receiver;
(h) to exercise in relation to any Charged Property all Secured Party against the powers, authorities and things which he would be capable of exercising if he were Debtor or the absolute beneficial owner of that Charged Property; and
(i) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he may think fitCollateral.
Appears in 1 contract
Sources: General Security Agreement (Imagis Technologies Inc)
Powers of Receiver. Each (a) Every Receiver appointed under this Security Agreement in accordance with Clause 11.1 shall have (subject and be entitled to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) exercise all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 paragraph (b) below in addition to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretions:
(a) all the rights those conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed thereunder. A Receiver who is an administrative receiver of any Chargor shall have all the powers of an administrative receiver under the Law of Property Insolvency ▇▇▇ ▇▇▇▇;. If at any time there is more than one Receiver of all or any part of the Security Assets, each such Receiver may (unless otherwise stated in any document appointing him) exercise all of the powers conferred on a Receiver under this Debenture individually and to the exclusion of each other Receiver:
(b) all the rights expressed The powers referred to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents;first sentence of paragraph (a) above are:
(ci) Take possession to take immediate possession of, get in and collect the Security Assets or any Charged Property part thereof;
(ii) Carry on business to carry on business of such Chargor as he may think fit;
(iii) Protection of assets to make and effect all repairs and insurances and do all other acts which such Chargor might do in the ordinary conduct of its business as well for the protection as for the improvement of the Security Assets;
(iv) Employees to appoint and discharge managers, officers, agents, accountants, servants, workmen and others for the purposes hereof upon such terms as to remuneration or otherwise as he may think proper and to require discharge any such persons appointed by any such Chargor;
(v) Borrow Money for the purpose of exercising any of the powers, authorities and discretions conferred on him by or pursuant to this Debenture and/or of defraying any costs, charges, losses or expenses (including his remuneration) which shall be incurred by him in the exercise thereof or for any other purpose, to raise and borrow money, either unsecured, or on the security of the Security Assets or any part thereof, either in priority to the security constituted by this Debenture, or otherwise, and generally on such terms and conditions as he 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) Sell assets to sell, exchange, convert into money and realise all or any part of the Security Assets by public auction or private contract and generally in such manner and on such terms as he shall think proper. Without prejudice to the generality of the foregoing, he 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 he may think fit. All fixtures and fittings (including trade fixtures and fittings) and fixed plant and machinery, other than landlords' fixtures, may be severed and sold separately from the property containing them without the consent of such Chargor;
(vii) Leases to let all or any part of the Security Assets for such term and at such rent (with or without premium) as he may think proper and to accept a surrender of any lease or tenancy thereof on such terms as he may think fit (including the payment of money to it a lessee or tenant on a surrender);
(viii) Compromise 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 such Chargor or relating in any way to the Security Agent of Assets or any monetary claims or credit balance on any Accountpart thereof;
(dix) Legal Actions to bring, prosecute, enforce, defend and abandon any actionall such actions, suit suits and proceedings in relation to any Charged Property the Security Assets or any business of the Chargorpart thereof as may seem to him to be expedient;
(ex) Receipts to give a valid receipt receipts for any all moneys and execute any assurance or thing all assurances and things which may be necessary proper or desirable for realising any Charged Propertythe Security Assets;
(fxi) Subsidiaries to exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the form a subsidiary or subsidiaries of such Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver transfer to any such subsidiary all or any part of the Security Agent Assets; and
(xii) General powers to the Chargor stating that do all such other acts and things as he may consider desirable or necessary for realising the Security Agent shall exercise all voting rights in respect Assets or any part thereof or incidental or conducive to any of the Shares and stocksmatters, shares and other securities owned powers or authorities conferred on a Receiver under or by the Chargor and comprised in the Charged Property;
(g) to redeem any prior Security on or relating to the Charged Property and settle and pass the accounts virtue of the person entitled to that prior Securitythis Debenture, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(h) to exercise in relation to the Security Assets or any Charged Property part thereof all the such powers, authorities and things which as he would be capable of exercising if he were the absolute beneficial owner of that Charged Property; and
(i) the same and to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the such Chargor for all or any of such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he may think fit.
Appears in 1 contract
Sources: Debenture (Pacificorp /Or/)
Powers of Receiver. Each Receiver appointed under this Security Agreement Deed shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on administrative receivers or other receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver, appointed under this Deed. In addition, notwithstanding any liquidation of the Chargor, each Receiver Receiver-shall have the following rights, powers and discretionspower to:
(a) all manage and carry on the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇;
(b) all the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance on any Account;
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business of the Chargor;
(b) develop, reconstruct, amalgamate or diversify any part of the business of the Chargor;
(c) enter into, perform, vary, rescind or cancel any contracts on any terms or conditions;
(d) incur any liability or borrow or raise money on any terms, whether secured or unsecured, and whether to rank for payment in priority to this Security or not;
(e) to give a valid receipt for grant options over or otherwise deal with, all or any moneys and execute any assurance or thing which may be necessary or desirable for realising any of the Charged Property;
(f) establish subsidiaries to acquire interests in any of the Charged Property and/or arrange for those subsidiaries to trade or cease to trade and acquire any of the Charged Property on any terms and conditions;
(g) exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged PropertyShares;
(gh) to redeem any prior Security Interests on or relating to the Charged Property and settle and pass the accounts of the person entitled to that those prior SecuritySecurity Interests, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the relevant Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(hi) take possession of, and to exercise collect and get in relation to the Charged Property;
(j) sell, lease or otherwise dispose of any Charged Property all in whatever manner and for whatever consideration he sees fit;
(k) appoint, employ, replace, and discharge officers, employees, contractors, agents and others for any of the powerspurposes of this Deed or the business of the Chargor and/or to guard or protect the Charged Property upon terms as to remuneration or otherwise as he may think fit;
(l) settle or compromise any claims, authorities accounts, disputes, questions and things which he would demands with or by any person who is or claims to be capable a creditor of exercising if he were the absolute beneficial owner Chargor or relating to any of that the Charged Property;
(m) bring, prosecute, enforce, defend, abandon or settle any litigation, legal, arbitration or administrative proceedings or claim in connection with the Charged Property or any business of the Chargor; and
(in) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2Subclause, or otherwise incidental or conducive to the preservation, improvement or realisation realization of the Charged Property, and use the name or necessary or desirable for realizing any of the Chargor for all such purposesCharged Property or the business of the Chargor, and in each case may use the name of the any Chargor and exercise the relevant power in any manner which he may think fit.
Appears in 1 contract
Powers of Receiver. Each Receiver appointed under this Security Agreement Deed shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security AgreementDeed), so that the powers set out in Schedule schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretionspower to:
(a) all the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇;
(b) all the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance on any Account;
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business of the Chargor;
(e) to give a valid receipt for any moneys and execute any assurance or thing which may be necessary or desirable for realising any Charged Property;
(f) to exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property;
(gb) to redeem any prior Security on or relating to the Charged Property and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(hc) settle any claims, accounts, disputes, questions and demands with or by any person who is or claims to exercise in relation be a creditor of the Chargor or relating to any Charged Property all of the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Property; and
(id) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.210.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he may think fit.
Appears in 1 contract
Sources: Deed of Charge
Powers of Receiver. Each Receiver appointed under this Security Agreement shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ Act 1925 and the Insolvency ▇▇▇ ▇▇▇▇ Act 1986 (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ Act 1986 shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretions:
(a) all the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ Act 1925 on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇Act 1925;
(b) all the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance on any Account;
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business of the Chargor;
(e) to give a valid receipt for any moneys and execute any assurance or thing which may be necessary or desirable for realising any Charged Property;
(f) to exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property;
(g) to redeem any prior Security on or relating to the Charged Property and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(h) to exercise in relation to any Charged Property all the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Property; and
(i) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he may think fit.
Appears in 1 contract
Sources: Security Agreement (Paysafe LTD)
Powers of Receiver. Each Receiver appointed under this Security Agreement Debenture shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ Act 1925 and the Insolvency ▇▇▇ ▇▇▇▇ Act 1986 (each of which is deemed incorporated in this Security AgreementDebenture), so that the powers set out in Schedule schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ Act 1986 shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretionspower to:
(a) all manage, develop, reconstruct, amalgamate or diversify any part of the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇;
(b) all the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance on any Account;
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business of the Chargor;
(eb) to give a valid receipt for enter into or cancel any moneys and execute contracts on any assurance terms or thing which may be necessary or desirable for realising any Charged Propertyconditions;
(fc) incur any liability on any terms, whether secured or unsecured, and whether to rank for payment in priority to this security or not;
(d) establish subsidiaries to acquire interests in any of the Charged Property and/or arrange for those subsidiaries to trade or cease to trade and acquire any of the Charged Property on any terms and conditions;
(e) exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property;
(gf) to redeem any prior Security on or relating to the Charged Property and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(g) appoint and discharge officers and others for any of the purposes of this Debenture upon terms as to remuneration or otherwise as they may think fit;
(h) settle any claims, accounts, disputes, questions and demands with or by any person who is or claims to exercise in relation be a creditor of the Chargor or relating to any Charged Property all of the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Property;
(i) purchase or acquire any land or any interest in or right over land; and
(ij) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he they may think fit.
Appears in 1 contract
Sources: Debenture
Powers of Receiver. Each Receiver appointed under this Security Agreement Deed shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security AgreementDeed), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretionspower to:
(a) all the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇;
(b) all the rights expressed to be conferred upon the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documents;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance on any Account;
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business of the Chargor;
(e) to give a valid receipt for any moneys and execute any assurance or thing which may be necessary or desirable for realising any Charged Property;
(f) to 12.2.1 exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property;
(g) to 12.2.2 redeem any prior Security on or relating to the Charged Property and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(h) 12.2.3 settle any claims, accounts, disputes, questions and demands with or by any person who is or claims to exercise in relation be a creditor of the Chargor or relating to any Charged Property all of the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Property; and
(i) to 12.2.4 do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposes, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he they may think fit.
Appears in 1 contract
Powers of Receiver. Each Receiver appointed under this Security Agreement Deed shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on administrative receivers or other receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver, appointed under this Deed. In addition, notwithstanding any liquidation of the relevant Chargor, each Receiver shall have the following rights, powers and discretionspower to:
(a) all manage and carry on the rights conferred by the Law business of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇Chargor;
(b) all develop, reconstruct, amalgamate or diversify any part of the rights expressed to be conferred upon business of the Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documentsrelevant Chargor;
(c) to take immediate possession ofenter into, get in and collect perform, vary, rescind or cancel any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance contracts on any Accountterms or conditions;
(d) incur any liability or borrow or raise money on any terms, whether secured or unsecured, and whether to bring, prosecute, enforce, defend and abandon any action, suit and proceedings rank for payment in relation priority to any Charged Property this Security or any business of the Chargornot;
(e) to give a valid receipt for let or lease or concur in letting or leasing, and vary the terms of, determine or surrender leases or tenancies of, or grant options and licences over, or otherwise deal with, all or any moneys and execute any assurance or thing which may be necessary or desirable for realising any of the Charged Property;
(f) establish subsidiaries to acquire interests in any of the Charged Property and/or arrange for those subsidiaries to trade or cease to trade and acquire any of the Charged Property on any terms and conditions;
(g) make and effect all repairs, renewals and improvements to any of the Charged Property and maintain, renew, take out or increase insurances;
(h) exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares Investments and stocks, shares and other securities owned by the relevant Chargor and comprised in the Charged Property;
(gi) to redeem any prior Security Interests on or relating to the Charged Property and settle and pass the accounts of the person entitled to that those prior SecuritySecurity Interests, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the relevant Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(hj) take possession of, and to exercise collect and get in relation to the Charged Property;
(k) sell, lease or otherwise dispose of any Charged Property in whatever manner and for whatever consideration he sees fit;
(l) appoint, employ, replace, and discharge officers, employees, contractors, agents and others for any of the purposes of this Deed or the business of any Chargor and/or to guard or protect the Charged Property upon terms as to remuneration or otherwise as he may think fit;
(m) settle or compromise any claims, accounts, disputes, questions and demands with or by any person who is or claims to be a creditor of the relevant Chargor or relating to any of the Charged Property;
(n) implement or continue the development of (and obtain all consents required in connection therewith) and/or commence or complete any buildings or structures on any real property comprised in the Charged Property;
(o) purchase or acquire any land or any interest in or right over land or any other property;
(p) exercise on behalf of the relevant Chargor all the powers, authorities and things which he would be capable powers conferred on a landlord or a tenant by any legislation from time to time in force in any relevant jurisdiction relating to rents or agriculture in respect of exercising if he were any part of the absolute beneficial owner of that Charged Property;
(q) bring, prosecute, enforce, defend, abandon or settle any litigation, legal, arbitration or administrative proceedings or claim in connection with the Charged Property or any business of a Chargor; and
(ir) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2Subclause, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name or necessary or desirable for realising any of the Chargor for all such purposes, Charged Property or the business of any Chargor,
(s) and in each case may use the name of the any Chargor and exercise the relevant power in any manner which he may think fit.
Appears in 1 contract
Powers of Receiver. Each Unless the terms of a Receiver’s appointment state otherwise, the Receiver appointed under this Security Agreement shall will have (subject full power to do all or any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇▇ ▇▇▇▇ and the Insolvency ▇▇▇ ▇▇▇▇ (each of which is deemed incorporated in this Security Agreement), so that the powers set out in Schedule 1 to the Insolvency ▇▇▇ ▇▇▇▇ shall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall have the following rights, powers and discretionsfollowing:
(a) all (Grantor obligations under this document) perform any obligation of the rights conferred by Grantor under this document or any other Finance Document including making payments to any person holding Security in the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇Secured Property;
(b) all (Grantor obligations general) perform, observe, carry out or enforce any deeds, contracts, obligations or rights of the rights expressed to be conferred upon the Security Agent Grantor in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in respect of the Secured Debt DocumentsProperty;
(c) to (manage, possession, control) manage, take immediate possession of, or take control of, collect and get in and collect any Charged the Secured Property and for that purpose to require payment to it take proceedings (in the name of the Grantor or to the Security Agent of any monetary claims or credit balance on any Accountotherwise);
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business (give up possession) give up possession of the ChargorSecured Property;
(e) to give a valid receipt (dealings without possession) deal with the Secured Property without taking possession and without liability for any moneys and execute any assurance Loss resulting from failing to take possession or thing which may be necessary the need to account as Secured Party or desirable for realising any Charged Propertymortgagee in possession;
(f) to (exercise Secured Party's rights)
(i) exercise all voting or any of the Secured Party's powers, rights, discretions and other rights attaching to remedies under this document; and
(ii) comply with the Shares and stocks, shares and other securities owned directions given by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged PropertySecured Party;
(g) to redeem any prior Security (carry on business)
(i) carry on or relating agree to carry on the Charged business of the Grantor in and with the Secured Property and settle to stop doing so; and
(ii) effect all repairs, purchases and pass insurances, and generally to do everything that the accounts Grantor might do in the ordinary conduct of its business to:
(A) protect or improve the person entitled Secured Property; or
(B) obtain income or returns from the Secured Property and to that prior Securityconduct the Grantor's business, so that without being responsible for any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the ReceiverLoss;
(h) to exercise (borrow)
(i) borrow from the Secured Party or (with the Secured Party's consent) any other person any amount that may be required for any of the purposes mentioned in relation to any Charged Property all the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged Propertyclause 9.3(g); and
(iii) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor Grantor or otherwise) secure any amount borrowed by granting a Security in the Secured Property so that the Security may rank in priority to, equally with or after the Security granted in clause 2.1, without the Secured Party being bound to enquire whether the borrowing is necessary or proper or responsible for all such purposesthe misapplication or non–application of any amount borrowed;
(i) (hire out, and lease or license) hire out, lease or license the Secured Property (including in each case may use the name of the Chargor Grantor) for any term at the rent or licence fee and on terms that seem desirable to the Receiver (with or without a purchase option and whether or not the Receiver has taken possession);
(j) (exercise rights) exercise all or any powers, rights, discretions and remedies of the relevant Grantor or in connection with the Secured Property (including rights available under the Corporations Act or any other statute);
(k) (registration) do everything necessary to obtain registration of the Secured Property in the Secured Party's name or in the name of the Secured Party's nominee;
(l) (settle disputes)
(i) settle, arrange and compromise any accounts, claims, questions or disputes that may arise in connection with the Grantor's business or the Secured Property or in any way relating to this document; and
(ii) execute releases or other discharges in relation to the settlement, arrangement, or compromise;
(m) (sell) sell (whether or not the Receiver has taken possession), exchange or otherwise dispose of (absolutely or conditionally) the Secured Property (or agree to do so):
(i) whether or not the Grantor has carried out any work on the Secured Property or otherwise prepared the Secured Property for sale;
(ii) with or without other property;
(iii) by public auction, private sale or tender for cash or on credit;
(iv) whether or not the reserve price for a sale by auction or tender is disclosed;
(v) in one lot or in parcels;
(vi) with or without special conditions, (such as conditions as to title or time or method of payment of purchase money) including by allowing the purchase money to remain:
(A) outstanding on any security over the property sold or over any other property; or
(B) owing without any security; and
(vii) on other terms the Receiver considers desirable, without being responsible for any loss;
(n) (transfer on sale) execute transfers and assignments of the Secured Property (including in the name of the Grantor), and do everything to complete any sale under clause 9.3(m) that the Receiver thinks necessary;
(o) (transfer to Crown) surrender, dedicate or transfer any real property constituting the Secured Property to the Crown or any Governmental Agency or exchange lands with any person (with or without receiving any money);
(p) (calls) make calls on the members of the Grantor in relation to the Grantor's uncalled capital, s▇▇ (in the name of the Grantor or otherwise) to recover amounts due in relation to calls, give valid receipts for those amounts and assign any power in relation to calls on the members of the Grantor;
(q) (services for use) provide services and equipment for use with the Secured Property on any manner which he may think terms it thinks fit.;
Appears in 1 contract
Sources: Securities Purchase Agreement (General Finance CORP)
Powers of Receiver. Each Receiver appointed under this Security Agreement Debenture shall have (subject to any limitations or restrictions which the Security Agent may incorporate in the deed or instrument appointing it) all the powers conferred from time to time on receivers by the Law of Property ▇▇Ac▇ ▇▇▇▇ and ▇nd the Insolvency ▇▇Ac▇ ▇▇▇▇ (each of which is deemed incorporated in this Security AgreementDebenture), so that the powers set out in Schedule 1 to the Insolvency ▇▇Ac▇ ▇▇▇▇ shall ▇hall extend to every Receiver, whether or not an administrative receiver. In addition, notwithstanding any liquidation of the Chargor, each Receiver shall shall, following the occurrence of a Declared Default, have the following rights, powers and discretions:power to (but will not be limited to):
(a) all the rights conferred by the Law of Property ▇▇▇ ▇▇▇▇ on mortgagors and on mortgagees in possession and enter into or cancel any contracts on any receiver appointed under the Law of Property ▇▇▇ ▇▇▇▇terms or conditions;
(b) all incur any liability on any terms, whether secured or unsecured, and whether to rank for payment in priority to the rights expressed to be conferred upon the Transaction Security Agent in this Security Agreement and all the rights to release the Charged Property from the Security conferred upon the Security Agent in the Secured Debt Documentsor not;
(c) to take immediate possession of, get in and collect any Charged Property and to require payment to it or to the Security Agent of any monetary claims or credit balance on any Account;
(d) to bring, prosecute, enforce, defend and abandon any action, suit and proceedings in relation to any Charged Property or any business of the Chargor;
(e) to give a valid receipt for any moneys and execute any assurance or thing which may be necessary or desirable for realising any Charged Property;
(f) to exercise all voting and other rights attaching to the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged Property, but only following a written notification from either the Receiver or the Security Agent to the Chargor stating that the Security Agent shall exercise all voting rights in respect of the Shares and stocks, shares and other securities owned by the Chargor and comprised in the Charged PropertyCollateral;
(gd) to redeem any prior Security on or relating to the Charged Property Collateral and settle and pass the accounts of the person entitled to that prior Security, so that any accounts so settled and passed shall (subject to any manifest error) be conclusive and binding on the Chargor and the money so paid shall be deemed to be an expense properly incurred by the Receiver;
(he) settle any claims, accounts, disputes, questions and demands with or by any person who is or claims to exercise in relation be a creditor of the Chargor or relating to any Charged Property all of the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that Charged PropertyCollateral; and
(if) to do all other acts and things (including signing and executing all documents and deeds) as the Receiver considers to be incidental or conducive to any of the matters or powers in this Clause 12.29.2, or otherwise incidental or conducive to the preservation, improvement or realisation of the Charged Property, and use the name of the Chargor for all such purposesCollateral, and in each case may use the name of the Chargor and exercise the relevant power in any manner which he may think fit.
Appears in 1 contract