Common use of Owner’s Rights Clause in Contracts

Owner’s Rights. 10.01 If, during the Term of the Lease, any of the goods or chattels of the Lessee are seized by any creditors of the Lessee, or if the Lessee makes any assignment of chattels involved in the Lease for benefit of creditors without first obtaining written consent from the Owner, or if the Lessee becomes bankrupt, this Lease shall, at the option of the Owner, become forthwith forfeited and void and the year's share of the Offspring shall become forthwith due.

Owner’s Rights. 10.01 9.01 If, during the Term of the Lease, any of the goods or chattels of the Lessee are seized by any creditors of the Lessee, or if the Lessee makes any assignment of chattels involved in the Lease for benefit of creditors without first obtaining written consent from the Owner, or if the Lessee becomes bankrupt, this Lease shall, at the option of the Owner, become forthwith forfeited and void and the year's share of the Offspring shall become forthwith due.