Appointment of receivers and managers Sample Clauses
The 'Appointment of receivers and managers' clause grants a lender or secured party the right to appoint a receiver or manager over a borrower's assets in the event of default or other specified circumstances. In practice, this means that if the borrower fails to meet their obligations, the appointed receiver or manager can take control of the relevant assets, operate the business, and collect income to repay outstanding debts. This clause is essential for protecting the lender's interests by providing a mechanism to recover funds and manage assets efficiently when the borrower is unable or unwilling to do so.
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Appointment of receivers and managers any administrative or other receiver is appointed anywhere of any Security Party or any part of its assets and/or undertaking or any other steps are taken to enforce any Encumbrance over all or any part of the assets of any Security Party; or
Appointment of receivers and managers any administrative or other receiver is appointed of the Borrower or any part of its assets and/or undertaking or any other steps are taken to enforce any Encumbrance over all or any part of the assets of the Borrower; or
Appointment of receivers and managers. (i) any liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrative receiver, administrator or the like is appointed in respect of the Borrower or the Guarantor or any substantial part of its/their assets; or
(ii) the directors of the Borrower or the Guarantor requests the appointment of a liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrative receiver, administrator or the like; or
Appointment of receivers and managers any administrative or other receiver, liquidator, compulsory manager or other similar officer is appointed of any Security Party or other Relevant Party or any part of its assets and/or undertaking or any other steps are taken to enforce any Encumbrance over all or any part of the assets of any Security Party or other Relevant Party; or
Appointment of receivers and managers. (a) Any liquidator, trustee-in-bankruptcy, preliminary trustee, composition trustee, judicial custodian, compulsory manager, receiver, administrative receiver or administrator is appointed in respect of any Obligor, any Material Subsidiary or any member of the UGCE Borrower Group or any part of its assets which is material in the context of the Borrower Group (taken as a whole) and, only in the case of the appointment of a judicial custodian, compulsory manager or receiver, is not discharged within 45 days (or, in the case of a US Obligor, 60 days); or
(b) the directors, shareholders or other officers of any Obligor, any Material Subsidiary or any member of the UGCE Borrower Group request the appointment of, or give notice of their intention to appoint, a liquidator, trustee in bankruptcy, preliminary trustee, composition trustee, judicial custodian, compulsory manager, receiver, administrative receiver or administrator, in each case other than in connection with a reconstruction or amalgamation on terms approved by the Facility Agent (acting on the instructions of the Majority Lenders).
Appointment of receivers and managers any administrative or other receiver is appointed of any Relevant Party or any material part (in the reasonable opinion of the Lessor) of its assets and/or undertaking or any other steps are taken to enforce any Encumbrance over all or any material part (in the reasonable opinion of the Lessor) of the assets of any Relevant Party; or
Appointment of receivers and managers any administrative or other receiver is appointed prior to Delivery of the Builder or the Refund Guarantor or any part of its assets and/or undertaking or any other steps are taken to enforce any Encumbrance over all or any part of the assets prior to delivery of the Builder or the Refund Guarantor; or
Appointment of receivers and managers any administrative or other receiver is appointed of the Borrower or any other Security Party or any other Restricted Company or any part of its assets and/or undertaking or any other steps are taken to enforce any Encumbrance over all or any part of the assets of the Borrower or any other Security Party or any other Restricted Company; or
Appointment of receivers and managers. (a) Any liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrative receiver, administrator or the like is appointed in respect of the Borrower or the Guarantor or any substantial part of its assets; or
(b) any other steps are taken to enforce any Security Interest over any substantial part of the assets of the Borrower or the Guarantor which steps are not discontinued within 30 days or, if not so discontinued, the Agent is satisfied and continues to be satisfied that the claim is being adequately contested and pursued with due diligence.
Appointment of receivers and managers. (a) Any liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrative receiver, administrator or the like is appointed in respect of an Obligor or a Material Subsidiary or any part of its assets; or
(b) the directors, shareholders or other officers of an Obligor or a Material Subsidiary request the appointment of a liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, or give notice of their intention to appoint an administrative receiver, administrator or the like; or
(c) any other step is taken to enforce any security over any part of the assets of an Obligor or a Material Subsidiary and is not withdrawn, discharged or stayed within 30 days.