Common use of Rights of Lender to Appoint Receiver Clause in Contracts

Rights of Lender to Appoint Receiver. Without limiting and in addition to any other rights, options and remedies Lender has under the Loan Documents, the UCC, at law or in equity, upon the occurrence and continuation of an Event of Default, Lender shall have the right to apply for and have a receiver appointed by a court of competent jurisdiction in any action taken by Lender to enforce its rights and remedies in order to manage, protect and preserve the Collateral and continue the operation of Borrowers’ business to the extent necessary to collect all revenues and profits thereof and apply the same to the payment of all expenses and other charges of such receivership including the compensation of the receiver and to the payments as aforesaid until a sale or other disposition of such Collateral shall be finally made and consummated. Borrowers hereby consent to the appointment of a receiver selected by Lender upon the occurrence and during the continuance of an Event of Default and agree not to oppose the appointment of such receiver or the rights and powers granted, or proposed by Lender to be granted, to such receiver so long as such rights and powers are consistent with applicable Law. Borrowers waive any right to require a bond to be posted by or on behalf of any such receiver.

Rights of Lender to Appoint Receiver. Without limiting and in addition to any other rights, options and remedies Lender has under the Loan Documents, the UCC, at law or in equity, upon the occurrence and continuation of an Event of Default, Lender shall have the right to apply for and have a receiver appointed by a court of competent jurisdiction in any action taken by Lender to enforce its rights and remedies in order to manage, protect and preserve the Collateral and continue the operation of Borrowers’ business to the extent necessary to collect all revenues and profits thereof and apply the same to the payment of all expenses and other charges of such receivership including the compensation of the receiver and to the payments as aforesaid until a sale or other disposition of such Collateral shall be finally made and consummated. Borrowers hereby consent to the appointment of a receiver selected by Lender ▇▇▇▇▇▇ upon the occurrence and during the continuance of an Event of Default and agree not to oppose the appointment of such receiver or the rights and powers granted, or proposed by Lender ▇▇▇▇▇▇ to be granted, to such receiver so long as such rights and powers are consistent with applicable Law. Borrowers waive any right to require a bond to be posted by or on behalf of any such receiver.

Rights of Lender to Appoint Receiver. Without limiting and in addition to any other rights, options and remedies Lender has under the Loan Documents, the UCC, at law or in equity, upon the occurrence and continuation of an Event of Default, Lender shall have the right to apply for and have a receiver appointed by a court of competent jurisdiction in any action taken by Lender to enforce its rights and remedies in order to manage, protect and preserve the Collateral and continue the operation of Borrowers’ the business of Borrower to the extent necessary to collect all revenues and profits thereof and apply the same to the payment of all expenses and other charges of such receivership including the compensation of the receiver and to the payments as aforesaid until a sale or other disposition of such Collateral shall be finally made and consummated. Borrowers Borrower hereby consent consents to the appointment of a receiver selected by Lender upon the occurrence and during the continuance of an Event of Default and agree agrees not to oppose the appointment of such receiver or the rights and powers granted, or proposed by Lender to be granted, to such receiver so long as such rights and powers are consistent with applicable Lawlaw. Borrowers waive Borrower waives any right to require a bond to be posted by or on behalf of any such receiver.

Rights of Lender to Appoint Receiver. Without limiting and in addition to any other rights, options and remedies Lender has under the Loan Documents, the UCC, at law or in equity, upon the occurrence and continuation of an Event of Default, Lender shall have the right to apply for and have a receiver appointed by a court of competent jurisdiction in any action taken by Lender to enforce its rights and remedies in order to manage, protect and preserve the Collateral and continue the operation of Borrowers’ the business of Borrower to the extent necessary to collect all revenues and profits thereof and apply the same to the payment of all expenses and other charges of such receivership including the compensation of the receiver and to the payments as aforesaid until a sale or other disposition of such Collateral shall be finally made and consummated. Borrowers ▇▇▇▇▇▇▇▇ hereby consent consents to the appointment of a receiver selected by Lender ▇▇▇▇▇▇ upon the occurrence and during the continuance of an Event of Default and agree agrees not to oppose the appointment of such receiver or the rights and powers granted, or proposed by Lender ▇▇▇▇▇▇ to be granted, to such receiver so long as such rights and powers are consistent with applicable Lawlaw. Borrowers waive Borrower waives any right to require a bond to be posted by or on behalf of any such receiver.