Common use of Right to Receiver Clause in Contracts

Right to Receiver. Following the occurrence of an Event of Default, if the Tenant fails after receipt of a Notice of Default to cure the default within the time period set forth in this Lease, the City, at its option, may have a receiver appointed to take possession of the Tenant’s interest in the Premises with power in the receiver (a) to administer the Tenant’s interest in the Premises, (b) to collect all funds available in connection with the operation of the Premises, and (c) to perform all other acts consistent with the Tenant’s obligations under this Lease, as the court deems proper.

Right to Receiver. Following the occurrence of an Event of Default, if the Tenant fails after receipt of a Notice of Default to cure the default within the time period set forth in this LeaseAgreement, the City, at its option, may have a receiver appointed to take possession of the Tenant’s interest in the Premises with power in the receiver (a) to administer the Tenant’s interest in the Premises, (b) to collect all funds available in connection with the operation of the Premises, and (c) to perform all other acts consistent with the Tenant’s obligations under this LeaseAgreement, as the court deems proper.