Common use of Assignment; Attachments Clause in Contracts

Assignment; Attachments. Borrower shall have assigned its assets for the benefit of its creditors or suffered a sequestration or attachment of or execution of any substantial part of its property, unless the property so assigned, sequestered, attached or executed upon shall have been returned or released within ninety (90) days after such event or, if sooner, prior to sale pursuant to such sequestration, attached or execution. The occurrence of any of the Events of Default in this paragraph shall act to accelerate automatically the indebtedness evidenced by the Borrower’s AHIF Notes to the County Board, without need for any action by the County Board.

Assignment; Attachments. Borrower shall have assigned its assets for the benefit of its creditors or suffered a sequestration or attachment of or execution of any substantial part of its property, unless the property so assigned, sequestered, attached or executed upon shall have been returned or released within ninety (90) days after such event or, if sooner, prior to sale pursuant to such sequestration, attached or execution. The occurrence of any of the Events of Default in this paragraph shall act to accelerate automatically the indebtedness evidenced by the Borrower’s AHIF Notes to the County Boardautomatically, without need for any action by the County Board, the indebtedness evidenced by the Borrower’s promissory notes to the County Board.

Assignment; Attachments. Borrower shall have assigned its assets for the benefit of its creditors or suffered a sequestration or attachment of or execution of any substantial part of its property, unless the property so assigned, sequestered, attached or executed upon shall have been returned or released within ninety (90) days after such event or, if sooner, prior to sale pursuant to such sequestration, attached or execution. The occurrence of any of the Events events of Default in this paragraph shall act to accelerate automatically the indebtedness evidenced by the Borrower’s AHIF Notes promissory notes to the County Board, without need for any action by the County Board.