APPOINTMENT OF RECEIVER

THIS APPOINTMENT is made the ___________ day of ________ between _________ Bank Limited having its registered office at ______________________ (hereinafter called the bank) of the ONE PART.

AND

__________________________________ (receiver) of _________________________ (address, etc.) (hereinafter called the receiver) of the OTHER PART.

WHEREAS:

1.      By a mortgage (or charge or debenture) dated the ________day of _________ made between __________ Company Limited (hereinafter called the company) of the one part and the bank of the other part the company (inter alia) charged in favour of the bank the undertaking of the company and all its property whatsoever and wheresoever both present and future including its goodwill and uncalled capital for the time being by way of security for all the monies thereby secured.

2.      Events have happened upon which the power to appoint a receiver under the said mortgage (or charge or debenture) has become exercisable. 

NOW THEREFORE the bank in pursuance of the power given to it by the said mortgage (or charge or debenture) or conferred upon it by statute or otherwise hereby appoints the receiver to be the receiver and manager of the undertaking of the company and all its property whatsoever and wheresoever both present and future including its uncalled capital for the time being and to exercise all the powers of a receiver given by the said mortgage (or charge or debenture).

AND IT IS HEREBY DECLARED that the receiver shall be the agent of the company and the company alone shall be responsible for his acts and defaults.

 AS WITNESS etc.

                                                                            

                                                                                                      (Signature on behalf of bank)