Execution; Attachment. If Property of the Borrower or a Subsidiary having a fair market value in excess of US $150,000 shall be seized (including by way of execution, attachment, garnishment or distraint) or any Encumbrance thereon shall be enforced, or such Property shall become subject to any receivership, or any charging order or equitable execution of a court, or any writ of enforcement, writ of execution or distress warrant with respect to obligations in excess of US $150,000 shall exist in respect of the Borrower or a Subsidiary or such Property, or any receiver, sheriff, civil enforcement agent or other Person shall become lawfully entitled to seize or distrain upon any such Property and in any case such seizure, execution, attachment, garnishment, distraint, receivership, charging order or equitable execution, or other seizure or right, shall continue in effect and not released or discharged for more than ten (10) Business Days; or
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement (Accelerize Inc.)