(V) TO
ADVERTISE DISPOSITIONS OF COLLATERAL THROUGH PUBLICATIONS OR MEDIA OF GENERAL
CIRCULATION, WHETHER OR NOT THE COLLATERAL IS OF A SPECIALIZED NATURE, (VI) TO
CONTACT OTHER PERSONS, WHETHER OR NOT IN THE SAME BUSINESS AS ANY BORROWER, FOR
EXPRESSIONS OF INTEREST IN ACQUIRING ALL OR ANY PORTION OF SUCH COLLATERAL,
(VII) TO HIRE ONE OR MORE PROFESSIONAL AUCTIONEERS TO ASSIST IN THE DISPOSITION
OF COLLATERAL, WHETHER OR NOT THE COLLATERAL IS OF A SPECIALIZED NATURE,
(VIII) TO DISPOSE OF COLLATERAL BY UTILIZING INTERNET SITES THAT PROVIDE FOR THE
AUCTION OF ASSETS OF THE TYPES INCLUDED IN THE COLLATERAL OR THAT HAVE THE
REASONABLE CAPACITY OF DOING SO, OR THAT MATCH BUYERS AND SELLERS OF ASSETS,
(IX) TO DISPOSE OF ASSETS IN WHOLESALE RATHER THAN RETAIL MARKETS, (X) TO
DISCLAIM DISPOSITION WARRANTIES, SUCH AS TITLE, POSSESSION OR QUIET ENJOYMENT,
(XI) TO PURCHASE INSURANCE OR CREDIT ENHANCEMENTS TO INSURE THE AGENT AGAINST
RISKS OF LOSS, COLLECTION OR DISPOSITION OF COLLATERAL OR TO PROVIDE TO THE
AGENT A GUARANTEED RETURN FROM THE COLLECTION OR DISPOSITION OF COLLATERAL, OR
(XII) TO THE EXTENT DEEMED APPROPRIATE BY THE AGENT, TO OBTAIN THE SERVICES OF
OTHER BROKERS, INVESTMENT BANKERS, CONSULTANTS AND OTHER PROFESSIONALS TO ASSIST
THE AGENT IN THE COLLECTION OR DISPOSITION OF ANY OF THE COLLATERAL. EACH
BORROWER ACKNOWLEDGES THAT THE PURPOSE OF THIS SECTION 11.1(B) IS TO PROVIDE
NON-EXHAUSTIVE INDICATIONS OF WHAT ACTIONS OR OMISSIONS BY THE AGENT WOULD NOT
BE COMMERCIALLY UNREASONABLE IN THE AGENT'S EXERCISE OF REMEDIES AGAINST THE
COLLATERAL AND THAT OTHER ACTIONS OR OMISSIONS BY THE AGENT SHALL NOT BE DEEMED
COMMERCIALLY UNREASONABLE SOLELY ON ACCOUNT OF NOT BEING INDICATED IN THIS
SECTION 11.1(B). WITHOUT LIMITATION UPON THE FOREGOING, NOTHING CONTAINED IN
THIS SECTION 11.1(B) SHALL BE CONSTRUED TO GRANT ANY RIGHTS TO ANY BORROWER OR
TO IMPOSE ANY DUTIES ON AGENT THAT WOULD NOT HAVE BEEN GRANTED OR IMPOSED BY
THIS AGREEMENT OR BY APPLICABLE LAW IN THE ABSENCE OF THIS SECTION 11.1(B).
(C)
WITH RESPECT TO TRACE ENERGY (CANADA) AND ANY COLLATERAL HELD OR
OWNED BY IT, UPON THE OCCURRENCE OF AND DURING THE CONTINUANCE OF ANY EVENT OF
DEFAULT, AGENT MAY APPOINT OR REAPPOINT BY INSTRUMENT IN WRITING, ANY PERSON OR
PERSONS, WHETHER AN OFFICER OR OFFICERS OR AN EMPLOYEE OR EMPLOYEES OF AGENT OR
NOT, TO BE AN INTERIM RECEIVER, RECEIVER OR RECEIVERS (HEREINAFTER CALLED A
"RECEIVER", WHICH TERM WHEN USED HEREIN SHALL INCLUDE A RECEIVER AND MANAGER) OF
COLLATERAL (INCLUDING ANY INTEREST, INCOME OR PROFITS THEREFROM) AND MAY REMOVE
ANY RECEIVER SO APPOINTED AND APPOINT ANOTHER IN HIS/HER/ITS STEAD. ANY SUCH
RECEIVER SHALL, SO FAR AS CONCERNS RESPONSIBILITY FOR HIS/HER/ITS ACTS, BE
DEEMED THE AGENT OF TRACE ENERGY (CANADA) AND NOT AGENT AND AGENT SHALL NOT BE
IN ANY WAY RESPONSIBLE FOR ANY MISCONDUCT, NEGLIGENCE OR NON-FEASANCE ON THE
PART OF ANY SUCH RECEIVER OR HIS/HER/ITS SERVANTS, AGENTS OR EMPLOYEES. SUBJECT
TO THE PROVISIONS OF THE INSTRUMENT APPOINTING HIM/HER/IT, ANY SUCH RECEIVER
SHALL HAVE POWER TO TAKE POSSESSION OF COLLATERAL, TO PRESERVE COLLATERAL OR