Common use of Assignment; Attachment Clause in Contracts

Assignment; Attachment. If Borrower or Borrower's general partner, if Borrower is a partnership, or Borrower's managing member, if Borrower is a limited liability company, assigns its assets for the benefit of its creditors or suffers a sequestration or attachment of or execution on any substantial part of its property, unless the property so assigned, sequestered, attached or executed upon is returned or released within ninety (90) calendar days after such event or, if sooner, prior to sale pursuant to such sequestration, attachment, or execution. The occurrence of any of the events of default in this paragraph will act to accelerate automatically, without the need for any action by the County, the indebtedness evidenced by the Note.

Assignment; Attachment. If Borrower or Borrower's general partner, if Borrower is a partnership, or Borrower's managing member, if Borrower is a limited liability company, assigns shall have assigned its assets for the benefit of its creditors or suffers suffered a sequestration or attachment of or execution on any substantial part of its property, unless the property so assigned, sequestered, attached or executed upon is shall have been returned or released within ninety (90) calendar days after such event or, if sooner, prior to sale pursuant to such sequestration, attachment, or execution. The occurrence of any of the events of default in this paragraph will shall act to accelerate automatically, without the need for any action by the County, the indebtedness evidenced by the Note.

Assignment; Attachment. If Borrower or Borrower's general partner, if Borrower is a partnership, or Borrower's managing member, if Borrower is a limited liability company, assigns shall have assigned its assets for the benefit of its creditors or suffers suffered a sequestration or attachment of or execution on any substantial part of its property, unless the property so assigned, sequestered, attached or executed upon is shall have been returned or released within ninety (90) calendar days after such event or, if sooner, prior to sale pursuant to such sequestration, attachment, or execution. The occurrence of any of the events of default in this paragraph will shall act to accelerate automatically, without the need for any action by the County, the indebtedness evidenced by the Note.. [Revise to reflect structure of Borrower’s entity- try to include all managing entities]