Expropriation and sequestration Sample Clauses
The Expropriation and Sequestration clause defines the rights and obligations of the parties in the event that property or assets involved in the agreement are seized or taken by a government authority. Typically, this clause outlines what happens if assets are expropriated (taken for public use) or sequestered (temporarily taken into custody), such as suspending or terminating contractual obligations, or specifying compensation procedures. Its core function is to allocate risk and provide a clear process for handling situations where government intervention disrupts the normal course of the contract.
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Expropriation and sequestration. Any expropriation or sequestration affects any asset or assets of any Obligor or any Material Subsidiary and has a Material Adverse Effect.
Expropriation and sequestration. (a) Any expropriation or sequestration (or equivalent event under any applicable law) affects any asset or assets of any Obligor or any Material Subsidiary and has a Material Adverse Effect.
(b) The authority or ability of the Parent or any Material Subsidiary to conduct its business is limited or wholly or substantially curtailed by any seizure, expropriation, nationalisation, intervention, restriction or other action by or on behalf of any governmental, regulatory or other authority or other person in relation to the Parent or any Material Subsidiary (or, in each case, any of its assets) with an aggregate book value equal to 5 per cent. or more of the gross book value of the assets of the Group (on a consolidated basis).