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2022-08-09_GENERAL DOCUMENTS - M2012032
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2022-08-09_GENERAL DOCUMENTS - M2012032
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Last modified
8/11/2022 8:36:08 PM
Creation date
8/11/2022 7:50:24 AM
Metadata
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Template:
DRMS Permit Index
Permit No
M2012032
IBM Index Class Name
General Documents
Doc Date
8/9/2022
Doc Name
Appointment of a Receiver
From
Alliance Management
To
DRMS
Permit Index Doc Type
General Correspondence
Email Name
LJW
THM
GRM
CMM
Media Type
D
Archive
No
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(cc) that the Receiver is authorized to undertake all actions specifically set forth in the <br /> order of the Court, as well as to exercise the usual and customary powers accorded to a receiver <br /> under Colorado law(except as otherwise limited by the order of the Court or any subsequent <br /> order of the Court); <br /> (dd) that nothing contained in this order shall be construed as obligating the Receiver <br /> to advance its own funds in order to pay the costs and expenses of the receivership that have <br /> been approved by the Lender Parties and the Court; <br /> (ee) that nothing contained in this order shall be construed as obligating the Lender <br /> Parties for the costs and expenses of the Receiver nor requiring the Lender Parties to advance <br /> funds to the Receiver to meet any capital needs of the OSM Collateral; <br /> (ff) that the Receiver may apply at any time to the Court,with notice to all other <br /> parties in this case, for further instruction and for further power necessary to enable the Receiver <br /> to properly fulfill its duties; <br /> (gg) that the Receiver shall be discharged upon the Court's approval of the Receiver's <br /> final accounting, including,without limitation,upon removal or resignation in this Order; for <br /> good cause, Receiver may file a motion seeking to discharge Receiver and terminate its <br /> obligations under this Order on an expedited basis and with shortened notice. For purposes of <br /> this paragraph, good cause for expedited termination shall include,but not be limited to, (a) <br /> insufficient funds available for payment of the Receiver's fees and/or expenses, (b)insufficient <br /> funds available for payment of insurance premiums for insurance to cover Receiver, and/or(c) <br /> the unwillingness or inability of Plaintiff to fund the Receiver's fees; <br /> (hh) that the entry of the Court's order appointing the Receiver shall not in any manner <br /> prejudice any of the other rights and remedies of the Lender Parties under the Loan Documents <br /> and/or under applicable law; <br /> (ii) that, any time further"Approval"beyond this Order is required with respect to <br /> any of the Receiver's action, such action be authorized only if and when the Receiver receives <br /> the written consent of the Lender Parties to such action or when the Receiver obtains entry of a <br /> further order of the Court; <br /> 6j) that the Receiver is authorized(i)to employ counsel to aid his and to provide his <br /> counsel in connection with his duties as Receiver, and(ii)to pay his counsel at the customary <br /> hourly rates for the legal services rendered in connection therewith; <br /> (kk) that,notwithstanding anything set forth herein above which may state or imply to <br /> the contrary,Receiver shall not be obligated to advance any monies to make improvements to, or <br /> to rehabilitate the Property, or incur or pay any other expenses or bills in connection with his role <br /> as Receiver, except to the extent that monies for such matters are available either from operating <br /> revenues generated by the Property and/or funds provided by the Lender Parties or another party; <br /> (11) that the Receiver is immediately vested with(and Defendants, and their respective <br /> managers,members, directors, officers, employees, and agents, shall immediately deliver)the <br /> 12 <br /> USA.605462236.2/ZP9 <br />
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