Common use of Security in Jeopardy Clause in Contracts

Security in Jeopardy. If at any time it shall appear to the Agent that any of the Collateral is in danger of seizure, distress, attachment, execution, diligence or other legal process, or that the Security shall for any other reason be in jeopardy, the Agent shall be entitled without notice to the Chargor to take possession of and hold the same or to appoint a Receiver of such Collateral. The provisions of Clause 10 shall govern the appointment, removal and powers of a Receiver appointed under this Clause 9.3 as if it were a Receiver appointed under Clause 10 and the Chargor shall, at its own expense, promptly execute such deeds and other agreements and otherwise take whatever action the Agent may require in order to enable the Agent to exercise its rights contained in this Clause 9.3.