Common use of Assignment; Attachment Clause in Contracts

Assignment; Attachment. Borrower assigns its assets for the benefit o f its creditors or suffers a sequestration or attachment o f or execution on any substantial part o f its property, unless the property so assigned, sequestered, attached or executed upon is returned or released within ninety calendar days after such event or, i f sooner, prior to sale pursuant to such sequestration, attachment, or execution. The occurrence o f any o f the events o f default in this paragraph shall act to accelerate automatically, without the need for any action by the City, the indebtedness evidenced by the Note.

Assignment; Attachment. Borrower assigns shall have assigned its assets for the benefit o f of its creditors or suffers suffered a sequestration or attachment o f of or execution on any substantial part o f of its property, unless the property so assigned, sequestered, attached or executed upon is shall have been returned or released within ninety calendar (90) days after such event or, i f if sooner, prior to sale pursuant to such sequestration, attachment, or execution. The occurrence o f of any o f of the events o f of default in this paragraph shall act to accelerate automatically, without the need for any action by the City, the indebtedness evidenced by the Note.