View source for Template:Nutshell 2018 CSD 8(a)

{{imcsdprov|8(a)}} '''{{imcsdprov|Secured Party’s Rights and Remedies}}''' <br>
{{2018 CSD8(a)(i)}}
{{2018 CSD8(a)(ii)}}
{{2018 CSD8(a)(iii)}}
{{2018 CSD8(a)(iv)}}
{{2018 CSD8(a)(v)}}
{{2018 CSD8(a)(vi)}}
{{2018 CSD8(a)(vii)}}
{{2018 CSD8(a)(viii)}}
{{2018 CSD8(a)(ix)}}
{{2018 CSD8(a)(x)}}





:(iv)	'''{{imcsdprov|Protection of Purchaser}}'''. <br>
::(A)	No purchaser or other person dealing with the {{imcsdprov|Secured Party}} or a {{imcsdprov|Receiver}} or with its attorney or agent shall be concerned to enquire (1) whether any power exercised or purported to be exercised by the {{imcsdprov|Secured Party}} has become exercisable, (2) whether any {{isdaprov|Obligation}} remains due, (3) as to the propriety or regularity of any of the actions of the {{imcsdprov|Secured Party}} or (4) as to the application of any money paid to the {{imcsdprov|Secured Party}}. <br>
::(B)	In the absence of bad faith on the part of such purchaser or other person, such dealings shall be deemed, so far as regards the safety and protection of such purchaser or other person, to be within the powers conferred by this {{imcsdprov|Deed}} and to be valid accordingly. The remedy of the {{imcsdprov|Chargor}} in respect of any impropriety or irregularity whatever in the exercise of such powers shall be in [[damages]] only. <br>
:(v)	'''{{imcsdprov|Valuation of Appropriated Collateral}}'''. Subject to Paragraph {{imcsdprov|13}}, where any {{imcsdprov|Posted Credit Support (IM)}} is [[Appropriation|appropriated]], the value of the appropriated {{imcsdprov|Posted Credit Support (IM)}} will be the {{imcsdprov|Appropriation Value}} of such {{imcsdprov|Posted Credit Support (IM)}} as of, or as soon as reasonably practicable after, the date on which such {{imcsdprov|Posted Credit Support (IM)}} is appropriated. <br>
:(vi)	'''{{imcsdprov|Appointment of Receiver}}'''.
::(A)	Except as provided below, the {{imcsdprov|Secured Party}} may appoint any one or more persons to be a {{imcsdprov|Receiver}} of all or any part of the {{imcsdprov|Security Assets}} if:
:::(1)	the security granted under this Deed has become enforceable; or
:::(2)	the {{imcsdprov|Chargor}} so requests the {{imcsdprov|Secured Party}} in writing at any time.
::(B)	Any appointment under Paragraph {{imcsdprov|8(a)(vi)}}(A) above may be by deed, under seal or in writing under its hand.
::(C)	Any restriction imposed by law on the right of a mortgagee to appoint a {{imcsdprov|Receiver}} (including under section 109(1) of the Act) does not apply to this Deed. <br>
:(vii)	'''{{imcsdprov|Removal of Receiver and Remuneration}}'''.
::(A)	The {{imcsdprov|Secured Party}} may by writing under its hand remove any {{imcsdprov|Receiver}} appointed by it and may, whenever it thinks fit, appoint a new {{imcsdprov|Receiver}} in the place of any {{imcsdprov|Receiver}} whose appointment may for any reason have terminated.
::(B)	The {{imcsdprov|Secured Party}} may fix the remuneration of any {{imcsdprov|Receiver}} appointed by it and any maximum rate imposed by law (including under section 109(6) of the {{imcsdprov|Act}}) will not apply. <br>
:(viii) '''{{imcsdprov|Agent of the Chargor}}'''. <br>
::(A)	A {{imcsdprov|Receiver}} will be deemed to be the agent of the {{imcsdprov|Chargor}} for all purposes and, accordingly, will be deemed to be in the same position as a {{imcsdprov|Receiver}} duly appointed by a mortgagee under the Act. The {{imcsdprov|Chargor}} is solely responsible for the contracts, engagements, acts, omissions, defaults and losses of a {{imcsdprov|Receiver}} and for liabilities incurred by a {{imcsdprov|Receiver}}.
::(B)	No {{imcsdprov|Secured Party}} will incur any liability (either to the {{imcsdprov|Chargor}} or to any other person) by reason of the appointment of a {{imcsdprov|Receiver}} or for any other reason. <br>
:(ix)	'''{{imcsdprov|Relationship with Secured Party}}'''. [[To the fullest extent allowed by law]], any right, power or discretion conferred by this Deed (either expressly or impliedly) or by law on a {{imcsdprov|Receiver}} may after the security granted under this {{imcsdprov|Deed}} becomes enforceable be exercised by the {{imcsdprov|Secured Party}} in relation to any {{imcsdprov|Security Asset}} without first appointing a {{imcsdprov|Receiver}} or notwithstanding the appointment of a {{imcsdprov|Receiver}}. <br>
:(x)	'''{{imcsdprov|Powers of Receiver}}'''. <br>
::(A)	'''General'''
:::(1)	A {{imcsdprov|Receiver}} has all the rights, powers and discretions set out below in this sub-paragraph in addition to those conferred on it by any law. This includes all the rights, powers and discretions conferred on a receiver (or a receiver and manager) under the Act and the Insolvency Act 1986.
:::(2)	If there is more than one {{imcsdprov|Receiver}} holding office at the same time, each {{imcsdprov|Receiver}} may (unless the document appointing him states otherwise) exercise all the powers conferred on a {{imcsdprov|Receiver}} under this Deed individually and to the exclusion of any other {{imcsdprov|Receiver}}.
::(B)	'''Possession''': A {{imcsdprov|Receiver}} may take immediate possession of, get in and collect any {{imcsdprov|Security Asset}} and may subsequently relinquish such possession.
::(C)	'''Sale of assets'''
:::(1)	A {{imcsdprov|Receiver}} may sell, exchange, convert into money and realise any {{imcsdprov|Security Asset}} by public auction or private contract and generally in any manner and on any terms which he thinks fit.
:::(2)	The consideration for any such transaction may consist of cash, debentures or other obligations, shares, stock or other valuable consideration and any such consideration may be payable in a lump sum or by instalments spread over any period which he thinks fit.
::(D)	'''Receipts''': A {{imcsdprov|Receiver}} may give a valid receipt for any moneys and execute any assurance or thing which may be necessary or desirable for realising any {{imcsdprov|Security Asset}}.
::(E)	'''Delegation''': A {{imcsdprov|Receiver}} may delegate his powers in accordance with this Deed.
::(F)	'''Other powers''': A {{imcsdprov|Receiver}} may:
:::(1)	do all other acts and things which he may consider desirable or necessary for realising any {{imcsdprov|Security Asset}} or incidental or conducive to any of the rights, powers or discretions conferred on a {{imcsdprov|Receiver}} under or by virtue of this {{imcsdprov|Deed}} or law;
:::(2)	exercise in relation to any {{imcsdprov|Security Asset}} all the powers, authorities and things which he would be capable of exercising if he were the absolute beneficial owner of that {{imcsdprov|Security Asset}}; and
:::(3)	use the name of the {{imcsdprov|Chargor}} for any of the above purposes. <br>