Execution or Attachment Sample Clauses
The 'Execution or Attachment' clause primarily serves to protect a party’s assets from being seized or encumbered as a result of legal judgments or creditor actions related to the agreement. In practice, this clause typically prohibits the other party from attempting to execute, levy, or attach any property or funds held under the agreement, even if a court judgment is obtained. This ensures that the assets involved in the contract remain secure and are not subject to third-party claims, thereby safeguarding the parties’ interests and preventing disruptions to the contractual relationship.
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Execution or Attachment. Tenant’s interest in this Lease is taken in execution or in attachment or a writ of execution is issued against Tenant.
Execution or Attachment. Any judgment lien shall be filed, or any writ of execution, attachment, garnishment or other legal process shall be issued, against any of the property of the Borrower, any Guarantor or any of their respective Subsidiaries, which by itself or together with all other such legal processes is for an amount in excess of $100,000, and which shall remain unvacated, unbonded or unstayed for a period of thirty (30) days, or in any event later than five (5) days prior to the date of any proposed sale thereunder.
Execution or Attachment. Any judgment lien shall be filed, or any writ of execution, attachment, garnishment or other legal process shall be issued, against any of the property of the Borrower, any Guarantor or any of their respective Subsidiaries, which by itself or together with all other such legal processes is for an amount in excess of an amount equal to one percent (1%) of the consolidated assets of the Borrower and its Subsidiaries, determined in conformity with GAAP, as of the end of the immediately preceding Fiscal Year, and which remains unvacated, unbonded or unstayed for a period of thirty (30) days or in any event later than five (5) days prior to the date of any proposed sale thereunder, unless the same is fully covered by insurance issued by a solvent and reputable insurance company that has not denied or questioned coverage.
Execution or Attachment. Execution or attachment against the Assets, to the extent that such execution or attachment substantially interferes with Permitted Operations, or against all or any material part of the Premises or any interest therein that has been created or allowed in any way to exist by GT USA Enstructure or any person claiming through it, and such execution or attachment has not been vacated, stayed by court order, bonded or otherwise removed within a period of sixty (60) days; and/or