Attachment by Creditors Clause Samples
The 'Attachment by Creditors' clause defines the rights and procedures that apply when a creditor seeks to legally seize a debtor's assets to satisfy an outstanding debt. Typically, this clause outlines the conditions under which a creditor may obtain a court order to attach property, such as bank accounts or physical assets, belonging to the debtor. It may also specify the types of assets subject to attachment and any exemptions that protect certain property from being seized. The core function of this clause is to provide a clear legal mechanism for creditors to recover debts while ensuring that the process is conducted fairly and in accordance with applicable laws.
Attachment by Creditors. If a Partnership Interest is subjected to attachment by a creditor, or is assigned for the benefit of any creditor, the Partnership Interest obtained by such creditor shall be only that of an assignee, and in no event shall such creditor have the rights of a Substitute or Additional Limited Partner.
Attachment by Creditors. Any assets of Borrower shall be attached, levied upon, seized or repossessed, or come into the possession of a trustee, receiver or other custodian and a determination by Lender, in good faith but in its reasonable discretion, that the same could have a material adverse effect on the prospect for Lender to fully and punctually realize the full benefits conferred on Lender by this Agreement.
Attachment by Creditors. Any assets of Debtor shall be attached, levied upon, seized or repossessed, or come into the possession of a trustee, receiver or other custodian and a determination by Secured Party, in good faith but in its sole discretion, that the same could reasonably be expected to have a material adverse effect on Debtor or the ability of Secured Party to fully and punctually realize the full benefits conferred on Secured Party by this Agreement.
Attachment by Creditors. Any assets of Borrower, any Guarantor or other Loan Party shall be attached, levied upon, seized or repossessed, or come into the possession of a trustee, receiver or other custodian and a determination by Lender, in good faith but in its sole discretion, that the same could have a Material Adverse Effect.
Attachment by Creditors. Any assets of Debtor shall be attached, levied upon, seized or repossessed, or come into the possession of a trustee, receiver or other custodian and a determination by Creditor, in good faith but in its sole discretion, that the same could have a material adverse effect on the prospect for Creditor to fully and punctually realize the full benefits conferred on Creditor by this Agreement.
Attachment by Creditors. If an Interest is subject to attachment by a creditor or is assigned for the benefit of any creditor, the Interest obtained by such creditor shall be only that of an assignee and in no event shall such creditor have the rights of a Substitute Member.
Attachment by Creditors. Provided also, that if the Term hereby granted or any building on the Premises shall be at any time seized or taken in execution or in attachment by any creditor or the Tenant, or if the Tenant shall make any assignment for the benefit of creditors, or becoming bankrupt or insolvent shall take the benefit of any Act that may be in force for bankrupt or insolvent debtors, the then current rent shall immediately become due and payable, and the Term shall immediately become forfeited and void.
Attachment by Creditors. Notwithstanding the establishment and funding of the Trust hereunder, at all times during the continuance of the Trust, the income and principal of the Trust shall be fully subject to the rights and claims of the creditors of the Corporation and the Trustee shall delivery any undistributed principal and income to satisfy such claims as a court of competent jurisdiction may direct.
Attachment by Creditors. If a Membership Interest is subjected to attachment by a creditor, or is assigned for the benefit of any creditor, the Membership Interest obtained by such creditor shall be only that of an assignee, and in no event shall such creditor have the rights of a Substitute or Additional Member. ARTICLE XI REPRESENTATIONS, WARRANTIES AND COVENANTS Section 11.01 Section 11.02