Common use of Involuntary Assignment Clause in Contracts

Involuntary Assignment. No interest of Tenant in this Agreement shall be assignable by operation of law. Each of the following acts shall be considered an involuntary assignment: 18.2.1 If Tenant is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, or institutes a bankruptcy proceeding in which Tenant is the bankrupt party; or, if Tenant is a partnership or consists of more than one person or entity, if another partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors. 18.2.2 If a writ of attachment or execution is levied on this Agreement. 18.2.3 If, in any proceeding or action to which ▇▇▇▇▇▇ is a party, a receiver is appointed with authority to take possession of the Property. An involuntary assignment shall constitute a default by Tenant and Landlord shall have the right to elect to terminate this Agreement, in which case this Agreement shall not be treated as an asset of Tenant. If a writ of attachment or execution is levied on this Agreement, Tenant shall have ten (10) days in which to cause the attachment or execution to be removed. If any involuntary proceeding in bankruptcy is brought against Tenant, or if a receiver is appointed, Tenant shall have sixty (60) days in which to have the involuntary proceeding dismissed or the receiver removed.

Involuntary Assignment. No interest of Tenant in this Agreement Lease shall be assignable by operation of law. Each of the following acts shall be considered an involuntary assignment:. 18.2.1 (a) If Tenant is or becomes bankrupt or insolvent, makes an and assignment for the benefit of creditors, or institutes a bankruptcy proceeding under the Bankruptcy Act in which Tenant is the bankrupt partybankrupt; orof, if Tenant is a partnership or consists of more than one person or entity, if another any partner of the partnership or other person or entity is or becomes bankrupt or of insolvent, or makes an and assignment for the benefit of creditors.; 18.2.2 (b) If a writ of attachment or execution is levied on this Agreement.Lease; 18.2.3 (c) If, in any proceeding or action to which ▇▇▇▇▇▇ Tenant is a party, a receiver is appointed with authority to take possession of the PropertyPremises. An involuntary assignment shall constitute a default by Tenant and Landlord shall have the right to elect to terminate this AgreementLease, in which case this Agreement Lease shall not be treated as an asset of Tenant. If a writ of attachment or execution is levied on this AgreementLease, Tenant shall have ten (10) days in which to cause the attachment or execution to be removed. If any involuntary proceeding in bankruptcy is brought against Tenant, or if a receiver is appointed, Tenant shall have sixty thirty (6030) days in which to have the involuntary proceeding dismissed or the receiver removed.

Involuntary Assignment. No interest of Tenant in this Agreement Lease shall be assignable by operation of lawlaw (including, without limitation, the transfer of this Lease by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: 18.2.1 a. If Tenant is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, or institutes a bankruptcy proceeding under the Bankruptcy Code in which Tenant is the bankrupt partybankrupt; or, if Tenant is a partnership or consists of more than one person or entity, if another any partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors. 18.2.2 b. If a writ of attachment or execution is levied on this AgreementLease. 18.2.3 c. If, in any proceeding or action to which ▇▇▇▇▇▇ Tenant is a party, a receiver is appointed with authority to take possession of the PropertyPremises. An involuntary assignment shall constitute a default by Tenant and Landlord shall have the right to elect to terminate this AgreementLease, in which case this Agreement Lease shall not be treated as an asset of Tenant. If a writ of attachment or execution is levied on this AgreementLease, Tenant shall have ten forty-five (1045) days in which to cause the attachment or execution to be removed. If any involuntary proceeding in bankruptcy is brought against Tenant, or if a receiver is appointed, Tenant shall have sixty ninety (6090) days in which to have the involuntary proceeding dismissed or the receiver removed.