Voidable Transfer Clause Samples
A Voidable Transfer clause defines circumstances under which a transfer of assets or interests can be declared invalid or reversed. Typically, this applies when a transfer is made fraudulently, under duress, or in violation of creditors' rights, such as during bankruptcy proceedings. The clause serves to protect parties from improper or unlawful transfers, ensuring that assets can be recovered or restored to their rightful status if the original transaction is found to be voidable under applicable law.
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Voidable Transfer. If any payment by Borrower is held to constitute a preference under any Insolvency Laws or similar laws, or if for any other reason Lender is required to refund any sums to Borrower, such refund shall not constitute a release of any liability of Guarantor under this Guaranty. It is the intention of Lender and Guarantor that Guarantor’s obligations under this Guaranty shall not be discharged except by Guarantor’s performance of such obligations and then only to the extent of such performance. If any payment by any Guarantor should for any reason subsequently be declared to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the Insolvency Laws relating to a Voidable Transfer, and if Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the advice of its counsel, then the obligations guaranteed hereunder shall automatically be revived, reinstated and restored by the amount of such Voidable Transfer or the amount of such Voidable Transfer that Lender is required or elects to repay or restore, including all reasonable costs, expenses and legal fees incurred by Lender in connection therewith, and shall exist as though such Voidable Transfer had never been made, and any other guarantor, if any, shall remain liable for such obligations in full.
Voidable Transfer. Any Transfer made by a Limited Partner pursuant to this Article 23 but without compliance with the conditions set forth herein, shall be voidable by notice from Licensor to Transferor.
Voidable Transfer. In no event shall Landlord convey the Property to any other party without affording Tenant the purchase rights described in this Section 4, and any consummation of such sale shall be voidable by Tenant and shall be a default by Landlord hereunder.
Voidable Transfer. Any incurrence of debt, payment of money, or transfer of property made to Amerivon by or on behalf of the Company that is declared to be “voidable” or “avoidable” within the meaning of any federal or state law relating to creditor’s rights, including, without limitation, a fraudulent conveyance, preference, or otherwise voidable or recoverable payment of money or transfer of property, in whole or in part, for any reason under the Bankruptcy Code or any other federal or state law.