TO SELL OR CONCUR IN SELLING,
LEASING OR OTHERWISE DISPOSING OF ALL OR ANY PART OF THE COLLATERAL IN RESPECT
OF WHICH HE WAS APPOINTED WITHOUT THE NEED TO OBSERVE THE RESTRICTION IMPOSED BY
SECTION 103 OF THE ACT;
12.4.6
TO CARRY OUT ANY SALE, LEASE OR
OTHER DISPOSAL OF ALL OR ANY PART OF THE COLLATERAL BY CONVEYING, TRANSFERRING,
ASSIGNING OR LEASING THE SAME IN THE NAME OF ANY OF THE CHARGING COMPANIES AND,
FOR THAT PURPOSE, TO ENTER INTO COVENANTS AND OTHER CONTRACTUAL OBLIGATIONS IN
THE NAME OF, AND SO AS TO BIND, ANY OF THE CHARGING COMPANIES;
12.4.7
TO TAKE ANY SUCH PROCEEDINGS, IN
THE NAME OF ANY OF THE CHARGING COMPANIES OR OTHERWISE, AS HE SHALL THINK FIT IN
RESPECT OF THE COLLATERAL AND/OR INCOME IN RESPECT OF WHICH HE WAS APPOINTED,
INCLUDING PROCEEDINGS FOR RECOVERY OF RENT OR OTHER MONIES IN ARREARS AT THE
DATE OF HIS APPOINTMENT;
12.4.8
TO ENTER INTO OR MAKE ANY SUCH
AGREEMENT, ARRANGEMENT OR COMPROMISE AS HE SHALL THINK FIT;
12.4.9
TO INSURE, AND RENEW ANY
INSURANCES IN RESPECT OF, THE COLLATERAL AS HE SHALL THINK FIT, OR AS THE
COLLATERAL AGENT SHALL DIRECT;
12.4.10
TO APPOINT AND EMPLOY SUCH MANAGERS,
OFFICERS AND WORKMEN AND ENGAGE SUCH PROFESSIONAL ADVISERS AS HE SHALL THINK
FIT, INCLUDING, WITHOUT PREJUDICE TO THE GENERALITY OF THE FOREGOING POWER, TO
EMPLOY HIS PARTNERS AND FIRM;
12.4.11
TO OPERATE ANY RENT REVIEW CLAUSE IN
RESPECT OF ANY PROPERTY IN RESPECT OF WHICH HE WAS APPOINTED OR ANY PART THEREOF
AND TO APPLY FOR ANY NEW OR EXTENDED LEASE; AND
12.4.12
TO DO ALL SUCH OTHER THINGS AS MAY
SEEM TO HIM TO BE INCIDENTAL OR CONDUCIVE TO ANY OTHER POWER VESTED IN HIM IN
THE REALIZATION OF THIS SECURITY.
12.5
IN MAKING ANY SALE OR OTHER DISPOSAL IN THE
EXERCISE OF THEIR RESPECTIVE POWERS, THE RECEIVER, ADMINISTRATOR OR THE
COLLATERAL AGENT MAY ACCEPT, AS AND BY WAY OF CONSOLIDATION FOR SUCH SALE OR
OTHER DISPOSAL, CASH, SHARES, LOAN CAPITAL OR OTHER OBLIGATIONS, INCLUDING,
WITHOUT LIMITATION, CONSIDERATION FLUCTUATING ACCORDING TO OR DEPENDENT UPON
PROFIT OR TURNOVER AND CONSIDERATION THE AMOUNT WHEREOF IS TO BE DETERMINED BY A
THIRD PARTY. ANY SUCH CONSIDERATION MAY BE RECEIVABLE IN A LUMP SUM OR BY
INSTALLMENTS AND UPON RECEIPT BY THE RECEIVER, SHALL IPSO FACTO BE AND BECOME
CHARGED WITH THE PAYMENT OF THE SECURED OBLIGATIONS. ANY CONTRACT FOR ANY SUCH
SALE OR OTHER
18
DISPOSAL BY THE RECEIVER OR THE COLLATERAL AGENT MAY CONTAIN CONDITIONS
EXCLUDING OR RESTRICTING THE PERSONAL LIABILITY OF THE RECEIVER AND THE
COLLATERAL AGENT.
12.6
ANY RECEIVER OR ADMINISTRATOR APPOINTED HEREUNDER
SHALL SO FAR AS THE LAW ALLOWS, BE THE AGENT OF THE CHARGING COMPANIES AND
(SUBJECT TO THE PROVISIONS OF THE COMPANIES ACT 1985 AND THE INSOLVENCY ACT
1986) THE CHARGING COMPANIES SHALL BE SOLELY RESPONSIBLE FOR HIS ACTS AND
DEFAULTS AND FOR HIS REMUNERATION AND THE COLLATERAL AGENT SHALL NOT BE UNDER
ANY LIABILITY WHATSOEVER IN SUCH REGARD.
12.7
ANY RECEIVER OR ADMINISTRATOR