Common use of Appointment of receiver, legal process Clause in Contracts

Appointment of receiver, legal process. an encumbrancer takes possession of, or a trustee, receiver or similar officer is appointed in respect of, the whole or substantial part of the business or assets of the Borrower or the Corporate Guarantor or distress, legal process, sequestration or any form of execution is levied or enforced upon or instituted against any substantial part of the assets of the Borrower or the Corporate Guarantor;

Appointment of receiver, legal process. an encumbrancer takes possession of, or a trustee, receiver or similar officer is appointed in respect of, the whole all or substantial any part of the business or assets of the Borrower or the Corporate Guarantor or distress, legal process, sequestration distress or any form of execution is levied or enforced upon or instituted sued out against any substantial part such business or assets and is not discharged within seven (7) days of being levied, enforced or sued out, or any Security Interest which may for the time being affect any of its business or assets of the Borrower or the Corporate Guarantorbecomes enforceable;

Appointment of receiver, legal process. an An encumbrancer takes possession of, or a trustee, trustee or administrative or other receiver or similar officer is appointed in respect of, the whole all or substantial any part of the business or assets of the Borrower or any of its subsidiaries or related companies or any of the Corporate Guarantor Third Parties or distress, legal process, sequestration distress or any form of execution is levied or enforced upon or instituted sued out against any substantial part such assets or any Security Interest which may for the time being affect any of the such assets of the Borrower or the Corporate Guarantorbecomes enforceable;