If the security agreement is silent on whether or not a receiver may be appointed,the secured party can apply to a court for an order appointing a receiver or receiver-manager.

Question

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In many jurisdictions, if a security agreement does not explicitly address the appointment of a receiver, the secured party may still apply to a court for an order to appoint a receiver or receiver-manager to manage or liquidate the collateral. This is often seen as a remedy to protect the secured party's interest in the collateral.

If the Security Agreement Is Silent on Whether or Not