Common use of Involuntary Assignment Clause in Contracts

Involuntary Assignment. No interest of Licensee in this Master License Agreement shall be assignable by operation of law (including, without limitation, the transfer of this Master License Agreement by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: 18.2.1. If Licensee is or becomes bankrupt or insolvent; makes an assignment for the benefit of creditors; institutes, or is a party to, a proceeding under the Bankruptcy Act in which Licensee is the bankrupt or debtor; or, if Licensee is a partnership or consists of more than one person or entity, if any partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; 18.2.2. If a writ of attachment or execution is levied on this Master License Agreement; or 18.2.3. If, in any proceeding or action to which Licensee is a party, a receiver is appointed with authority to take possession of the Sites. 18.2.4. An involuntary assignment shall constitute a default by Licensee, and Licensor shall have the right to elect to terminate this Master License Agreement, in which case this Master License Agreement shall not be treated as an asset of Licensee. If a writ of attachment or execution is levied on this Master License Agreement, Licensee shall have ten (10) calendar days in which to cause the attachment or execution to be removed. If any involuntary proceeding in bankruptcy is brought against this Master License Agreement, or if a receiver is appointed, Licensee shall have sixty (60) calendar days in which to have the involuntary proceeding dismissed or the receiver removed.

Involuntary Assignment. No interest of Licensee in this Master License Agreement shall be assignable by operation of law (including, without limitation, the transfer of this Master License Agreement by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: 18.2.1. If Licensee is or becomes bankrupt or insolvent; makes an assignment for the benefit of creditors; institutes, or is a party to, a proceeding under the Bankruptcy Act in which Licensee is the bankrupt or debtor; or, if Licensee is a partnership or consists of more than one person or entity, if any partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; 18.2.2. If a writ of attachment or execution is levied on this Master License Agreement; or 18.2.3. Ifif, in any proceeding or action to which Licensee is a party, a receiver is appointed with authority to take possession of the Sites. 18.2.4. An involuntary assignment shall constitute a default by Licensee, and Licensor shall have the right to elect to terminate this Master License Agreement, in which case this Master License Agreement shall not be treated as an asset of Licensee. If a writ of attachment or execution is levied on this Master License Agreement, Licensee shall have ten (10) calendar days in which to cause the attachment or execution to be removed. If any involuntary proceeding in bankruptcy is brought against this Master License Agreement, or if a receiver is appointed, Licensee shall have sixty (60) calendar days in which to have the involuntary proceeding dismissed or the receiver removed.

Involuntary Assignment. No interest of Licensee in this Master License Agreement shall be assignable by operation of law (including, without limitation, the transfer of this Master License Agreement by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: 18.2.1. If Licensee is or becomes bankrupt or insolvent; makes an assignment for the benefit of creditors; institutes, or is a party to, a proceeding under the Bankruptcy Act in which Licensee is the bankrupt or debtor; or, if Licensee is a partnership or consists of more than one person or entity, if any partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; 18.2.2. If a writ of attachment or execution is levied on this Master License Agreement; or 18.2.3. If, in any proceeding or action to which Licensee is a party, a receiver is appointed with authority to take possession of the Sites. 18.2.4. An involuntary assignment shall constitute a default by Licensee, and Licensor shall have the right to elect to terminate this Master License Agreement, in which case this Master License Agreement shall not be treated as an asset of Licensee. If a writ of attachment or execution is levied on this Master License Agreement, Licensee shall have ten (10) calendar days in which to cause the i attachment or execution to be removed. If any involuntary proceeding in bankruptcy is brought against this Master License Agreement, or if a receiver is appointed, Licensee shall have sixty (60) calendar days in which to have the involuntary proceeding dismissed or the receiver removed.

Involuntary Assignment. No interest of Licensee Xxxxxx in this Master License Agreement lease shall be assignable by operation of law (including, without limitation, the transfer of this Master License Agreement lease by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: 18.2.1. A. If Licensee Lessee is or becomes bankrupt or insolvent; makes an assignment for the benefit of creditors; institutes, or is a party to, a proceeding under the Bankruptcy Act in which Licensee Xxxxxx is the bankrupt or debtor; or, if Licensee Lessee is a partnership or consists of more than one person or entity, if any partner of the partnership or other person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; 18.2.2. B. If a writ of attachment or execution is levied on this Master License Agreementlease; or 18.2.3. C. If, in any proceeding or action to which Licensee Xxxxxx is a party, a receiver is appointed with authority to take possession of the Sitespremises. 18.2.4. D. An involuntary assignment shall constitute a default by Licensee, Xxxxxx and Licensor Lessor shall have the right to elect to terminate this Master License Agreementlease, in which case this Master License Agreement lease shall not be treated as an asset of LicenseeLessee. If a writ of attachment or execution is levied on this Master License Agreementlease, Licensee Lessee shall have ten (10) calendar days in which to cause the attachment or execution to be removed. If any involuntary proceeding in bankruptcy is brought against this Master License AgreementXxxxxx, or if a receiver is appointed, Licensee Lessee shall have sixty (60) calendar days in which to have the involuntary proceeding dismissed or the receiver removed.