Common use of Operation of Law Clause in Contracts

Operation of Law. It is understood and agreed that neither this Lease, nor any interest herein or hereunder, nor any estate hereby created, in favor of Tenant, shall pass by operation of law under any State or Federal insolvency or bankruptcy act, or any similar law now or hereafter in effect, to any trustee, receiver, assignee for the benefit of creditors, or any other person whomsoever without the express written consent of Lessor first had and obtained therefore. Any purported transfer in violation of the provisions of this Section 24B shall constitute a breach of this Lease by Tenant.

Operation of Law. It is understood and agreed that neither this Lease, nor any interest herein or hereunder, nor any estate hereby created, in favor of Tenant, shall pass by operation of law under any State or Federal insolvency or bankruptcy act, or any similar law now or hereafter in effect, to any trustee, receiver, assignee for the benefit of creditors, or any other person whomsoever without the express written consent of Lessor first had and obtained therefore. Any purported transfer in violation of the provisions of this Section 24B Article 23B shall constitute a breach of this Lease by Tenant.

Operation of Law. It is understood and agreed that neither this Lease, nor any interest herein or hereunder, nor any estate hereby created, in favor of Tenant, shall pass by operation of law under any State or Federal insolvency or bankruptcy act, or any similar law now or hereafter in effect, to any trustee, receiver, assignee for the benefit of creditors, or any other person whomsoever without the express written consent of Lessor first had and obtained therefore. Any purported transfer in violation of the provisions of this Section 24B shall constitute a breach of this Lease by TenantXxxxxx.