Common use of Bankruptcy Rights Clause in Contracts

Bankruptcy Rights. If this Agreement is determined to be anything other than a services agreement from Dell to Distributor, then to the maximum extent allowed by applicable laws, Distributor grants Dell a first priority security interest in the APEX System (and all proceeds thereof) and Dell retains the first lien and security interest in the APEX System and all proceeds. Distributor agrees that Dell may file protective documents with government or other authorities in Distributor’s jurisdiction of incorporation or other applicable locations in order to inform third parties and lenders that Dell owns the APEX System at the Site (including UCC-1 filings if the Site is located in the United States of America). For the purpose of U.S. bankruptcy law, Distributor agrees that the Agreement is an "Executory Contract” with mutual obligations for both Distributor and Dell.

Bankruptcy Rights. If To the extent permitted by local law, if this Agreement is determined to be anything other than a services agreement from Dell to Distributor, then to the maximum extent allowed by applicable laws, Distributor grants Dell a first priority security interest in the APEX System (and all proceeds thereof) and Dell retains the first lien and security interest in the APEX System and all proceeds. Distributor agrees that Dell may file protective documents with government or other authorities in Distributor’s jurisdiction of incorporation or other applicable locations in order to inform third parties and lenders that Dell owns the APEX System at the Site (including UCC-1 filings if the Site is located in the United States of America). For the purpose of U.S. bankruptcy law, Distributor agrees that the Agreement is an "Executory Contract” with mutual obligations for both Distributor and Dell.

Bankruptcy Rights. If this Agreement is determined to be anything other than a services agreement from Dell to DistributorReseller, then then, to the maximum extent extend allowed by applicable lawslaw, Distributor Reseller grants Dell a first priority security interest in the APEX System (and all proceeds thereof) and Dell retains the first lien and security interest in the APEX System and all proceeds. Distributor Xxxxxxxx agrees that Dell may file protective documents with government or other authorities in DistributorReseller’s jurisdiction of incorporation or other applicable locations in order to inform third parties and lenders that Dell owns the APEX System at the Site (including UCC-1 filings if the Site is located in the United States of America). For the purpose of U.S. bankruptcy law, Distributor Xxxxxxxx agrees that the Agreement is an "Executory Contract” with mutual obligations for both Distributor Reseller and Dell.

Bankruptcy Rights. If this Agreement is determined to be anything other than a services agreement from Dell to DistributorReseller, then then, to the maximum extent allowed by applicable lawslaw, Distributor Reseller grants Dell a first priority security interest in the APEX System (and all proceeds thereof) and Dell retains the first lien and security interest in the APEX System and all proceeds. Distributor Xxxxxxxx agrees that Dell may file protective documents with government or other authorities in DistributorReseller’s jurisdiction of incorporation or other applicable locations in order to inform third parties and lenders that Dell owns the APEX System at the Site (including UCC-1 filings if the Site is located in the United States of America). For the purpose of U.S. bankruptcy law, Distributor Xxxxxxxx agrees that the Agreement is an "Executory Contract” with mutual obligations for both Distributor Reseller and Dell.