Consent to Appointment of Receiver. Each Borrower irrevocably consents to the appointment of a receiver upon the request of the Administrative Agent during any continuing Event of Default for it and for any or all of its business affairs, business operations, and assets, which receiver shall be authorized and deemed empowered to have and exercise the broadest powers permitted or available under applicable Laws to operate, manage, conserve, liquidate and sell any or all of its assets; provided, however, that such receiver shall have no authority without the prior written consent of the Required Lenders to release, discharge or otherwise negate any Liens securing the Obligations or to sell any assets of the Borrowers free and clear of any Liens securing the Obligations.
Consent to Appointment of Receiver. Subject to the terms and provisions of this Mortgage, Mortgagor hereby irrevocably consents to the appointment of a receiver, which receiver, when duly appointed, shall have all of the powers and duties of receivers pursuant to Applicable Indiana Law, including, specifically, Ind. Code 32-30-5-7 and shall, to the extent permitted by Applicable Indiana Law, collect and apply the Rents in accordance with the provisions of this Mortgage.
Consent to Appointment of Receiver. The Borrower irrevocably consents to the appointment of a receiver upon the request of the Agent during any continuing Event of Default for it and for any or all of its business affairs and its assets, which receiver shall be authorized to have and exercise the broadest powers permitted or available under applicable Laws to operate, manage, conserve, liquidate and sell any or all of the Borrower’s assets.
Consent to Appointment of Receiver. Without limiting the generality of any other provisions of this Mortgage, the Mortgagor hereby and in accordance with the provisions of Sections 15-1701, 1702 and 1703 of the IMFL, 735 ILCS 5/15-1701, 1702 and 1703, expressly authorizes and consents to the placing of the mortgagee in possession and the appointment of a receiver in the manner permitted thereunder. In addition to all other powers described in Section 24 of this Mortgage, such receiver, which Mortgagee may be, shall have all powers and duties prescribed by Section 15-1704 of the IMFL, including the power to make leases to be binding upon all parties, including the Mortgagor after redemption, the purchaser at a sale pursuant to a judgment of foreclosure and any person acquiring an interest in the Mortgaged Property after entry of a judgment of foreclosure, all as provided in Subsection (g) of Section 15-1701 of the IMFL.
Consent to Appointment of Receiver. Each Obligor shall take any action which the Collateral Agent may request in order to transfer or assign any portion of the Collateral and any or all FCC Licenses to the Collateral Agent or to such one or more third parties as the Collateral Agent may designate, or to a combination of the foregoing to facilitate an arm's-length sale. To enforce the provisions of this Section 6.14, the Collateral Agent is empowered to request the appointment of a receiver (including any trustee or comparable court-authorized entity) from any court of competent jurisdiction to whom the Collateral or any portion thereof may be transferred. Such receiver shall be instructed to seek from the FCC consent to an involuntary transfer of control or assignment of the FCC Licenses to such receiver for the purposes of seeking a bona fide purchaser to whom control ultimately will be transferred. Each Obligor hereby agrees to authorize such transfers of control or assignments upon the request of the receiver so appointed, including the preparation, execution, and submission of any applications to obtain any required consent or approval of the FCC; and, if any Obligor shall refuse to grant such authorization or to cooperate fully in the filing of any such applications, such Obligor's approval and cooperation may be ordered or required by the court for the purpose of seeking a bona fide purchaser to which control of such Collateral, or any portion thereof, ultimately will be transferred.
Consent to Appointment of Receiver. Without limiting the generality of any other provisions of this Mortgage, Borrower hereby and in accordance with the provisions of Sections 15-1701, 1702 and 1703 of the IMFL, expressly authorizes and consents to the placing of the Lender in possession and the appointment of a receiver in the manner permitted thereunder.
Consent to Appointment of Receiver. Upon the condition that at least thirty (30) days shall have elapsed following the initial occurrence of an Event of Default arising under subparagraphs (b) or (c) of ARTICLE VIII and if any Lender shall have applied for the employment, or taking by possession by, a trustee, receiver, liquidator or other similar official, of the Borrower to hold or liquidate all or any substantial part of the properties or assets of the Borrower and its Subsidiaries, then, to the extent permitted by law, the Borrower (with all due authority on behalf of the Austin Subsidiary) hereby consents to such appointment and agrees to execute and deliver any and all documents requested by the Lenders relating to the appointment of such trustee, receiver, liquidator or other similar official (whether by joining in a petition for the voluntary appointment of such an official, by entering no contest to a petition for the appointment of such an official or otherwise, as appropriate under applicable law).
Consent to Appointment of Receiver. WITHOUT DEROGATING FROM ANY RIGHT, REMEDY OR OTHER PROVISION CONTAINED IN THE LOAN AGREEMENT, THE FORBEARANCE AGREEMENT OR ANY OTHER SECURITY DOCUMENT, UPON TEN DAYS' NOTICE AFTER THE OCCURRENCE OF A FORBEARANCE EVENT OF DEFAULT, THE LENDERS SHALL HAVE THE RIGHT TO APPLY FOR AND HAVE A RECEIVER APPOINTED BY A COURT OF COMPETENT JURISDICTION IN ANY ACTION TAKEN BY THE LENDERS TO ENFORCE THEIR RIGHTS AND REMEDIES HEREUNDER IN ORDER TO MANAGE, PROTECT AND PRESERVE THE COLLATERAL AND CONTINUE THE OPERATION OF THE BUSINESSES OF THE BORROWER, OR TO SELL OR DISPOSE OF THE COLLATERAL, AND 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, SAID EXPENSES TO CONSTITUTE PART OF THE SECURED OBLIGATIONS, AND TO THE PAYMENT OF THE SECURED OBLIGATIONS AS AFORESAID. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW, THE BORROWER HEREBY IRREVOCABLY CONSENTS TO AND WAIVES ANY RIGHT TO OBJECT TO OR OTHERWISE CONTEST THE APPOINTMENT OF RECEIVER AS PROVIDED ABOVE. THE BORROWER (I) GRANTS SUCH WAIVER AND CONSENT KNOWINGLY AFTER HAVING DISCUSSED THE IMPLICATIONS THEREOF WITH COUNSEL, (II) ACKNOWLEDGES THAT (A) THE UNCONTESTED RIGHT TO HAVE A RECEIVER APPOINTED FOR THE FOREGOING PURPOSES IS CONSIDERED ESSENTIAL BY THE LENDERS IN CONNECTION WITH THE ENFORCEMENT OF THEIR RIGHTS AND REMEDIES HEREUNDER AND UNDER THE LOAN DOCUMENTS, AND (B) THE AVAILABILITY OF SUCH APPOINTMENT AS A REMEDY UNDER THE FOREGOING CIRCUMSTANCES WAS A MATERIAL FACTOR IN INDUCING THE LENDERS TO FORBEAR HEREUNDER; AND (III) TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW, AGREES TO ENTER INTO ANY AND ALL STIPULATIONS IN ANY LEGAL ACTIONS, OR AGREEMENTS OR OTHER INSTRUMENTS IN CONNECTION WITH THE FOREGOING AND TO COOPERATE FULLY WITH THE LENDERS IN CONNECTION WITH THE ASSUMPTION AND EXERCISE OF CONTROL BY THE RECEIVER OVER ALL OR ANY PORTION OF THE COLLATERAL.
