Avoidance of the Transaction Clause Samples

Avoidance of the Transaction. If the Transaction described in the Agreement is voided or avoided pursuant to the United States Bankruptcy Code (the “Bankruptcy Code”) (including the provisions of the Bankruptcy Code that incorporate state law,) in a case involving the Seller, then Nobility, to the extent of the consideration provided to the Seller, shall have a first priority lien and security interest in the property that is recovered for the benefit of the bankruptcy estate with the rights to credit bid such lien under the Bankruptcy Code and applicable state law in any sale of the recovered property.