An incumbrancer who has no legal mortgage has no right to enter into possession of the land until he obtains a court order1, but if his charge is created by instrument under seal he can appoint a receiver2, and if his charge arises otherwise he can obtain the appointment of a receiver by the court3. The mortgagee may expressly give an equitable incumbrancer the right to take possession4; and if the incumbrancer gives notice to the tenant to pay the rent to him, this, by virtue of the agreement, entitles the mortgagee to the rents as against a judgment
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
A certificate of title (also known as a certificate on title) is a particular species of report on title.When solicitors are instructed to investigate title to land (for instance, when land is being acquired or offered up as security), they will write a report on title for their client, which sets
Company directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their services will need to be
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