Levy or Execution Sample Clauses
The 'Levy or Execution' clause defines the consequences and procedures if a party's assets are subjected to legal seizure or enforcement actions, such as a court-ordered levy or execution. Typically, this clause allows the other party to take specific actions—such as terminating the agreement or accelerating obligations—if such an event occurs. For example, if a creditor obtains a judgment and seizes a party's property, this clause may trigger default provisions. Its core function is to protect the non-defaulting party from the risks associated with the other party's financial instability or insolvency.
Levy or Execution. The taking of Tenant’s interest in this Lease Agreement or the Premises, or any part thereof, by execution or other process of law directed against Tenant, or attachment of Tenant’s interest in this Lease Agreement by any creditor of Tenant, if such attachment is not discharged within fifteen (15) days after being levied.
Levy or Execution. Tenant’s interest in this Lease or the Premises, or any part thereof, is taken by execution or other process of law directed against Tenant, or is taken upon or subjected to any attachment by any creditor of Tenant, if such attachment is not discharged within fifteen (15) days after being levied.
Levy or Execution. Any levy or execution is made on any Shares of AmerAlia (including any successor or assign of AmerAlia),
Levy or Execution. Lessee's interest in this Lease or the Premises, or any part thereof, is taken by execution or other process of law directed against Lessee, or is taken upon or subjected to any attachment by any creditor of Lessee, if such attachment is not discharged within fifteen (15) days after being levied.
Levy or Execution. Subtenant’s interest in this Sublease or the Premises, or any part thereof, is taken by execution or other process of law directed against Subtenant, or is taken upon or subjected to any attachment by any creditor of Subtenant, if such attachment is not discharged within fifteen (15) days after being levied.