Common use of Receivership and Foreclosure Clause in Contracts

Receivership and Foreclosure. 4.11.1 At the option of the County, this Agreement shall be deemed terminated one hundred twenty (120) calendar Days after the appointment of a receiver or trustee for the Licensee, unless (a) the receivership or trustee is vacated within one hundred (120) Days of such appointment; or (b) the receiver or trustee has, within one hundred (120) Days of appointment, fully complied with all terms and conditions of this Agreement and has remedied all defaults under this Agreement

Receivership and Foreclosure. 4.11.1 At the option of the County, this Agreement shall be deemed terminated one hundred twenty (120) calendar Days after the appointment of a receiver or trustee for the LicenseeGrantee, unless (a) the receivership or trustee is vacated within one hundred (120) Days of such appointment; or (b) the receiver or trustee has, within one hundred (120) Days of appointment, fully complied with all terms and conditions of this Agreement and has remedied all defaults under this Agreement.