Common use of Seizure of Assets Clause in Contracts

Seizure of Assets. All or any material part of the property of all Covered Persons is nationalized, expropriated, seized or otherwise appropriated, or custody or control of such property or of all Covered Persons is assumed by any Governmental Authority or any court of competent jurisdiction at the instance of any Governmental Authority, unless the same is being contested in good faith by proper proceedings diligently pursued and a stay of enforcement is in effect.

Appears in 6 contracts

Samples: Credit Agreement (Gtsi Corp), Credit Agreement (Gtsi Corp), Credit Agreement (Gtsi Corp)

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