Common use of Receiver - Appointment Clause in Contracts

Receiver - Appointment. Following the occurrence and during the continuance of an Event of Default, the Secured Party may take proceedings in any court of competent jurisdiction for the appointment of a receiver or a receiver and manager (the “receiver”) of the Collateral or may by instrument in writing appoint any Person to be a receiver of the Collateral or of any part thereof and may remove any receiver so appointed by the Secured Party and appoint another in his stead. To the extent permitted by applicable law, any receiver appointed by the Secured Party will (for purposes relating to responsibility for the receiver’s acts or omissions) be considered to be the agent of the Debtor and not of the Secured Party.

Receiver - Appointment. Following the occurrence and during the continuance of an Event of Default, the Secured Party may take proceedings in any court of competent jurisdiction for the appointment of a receiver or a receiver and manager (the “receiverReceiver”) of the Collateral or may by instrument in writing appoint any Person to be a receiver Receiver of the Collateral or of any part thereof and may remove any receiver Receiver so appointed by the Secured Party and appoint another in his stead. To the extent permitted by applicable law, any receiver Receiver appointed by the Secured Party will (for purposes relating to responsibility for the receiverReceiver’s acts or omissions) be considered to be the agent of the Debtor and not of the Secured Party.