Common use of Receivership and Foreclosure Clause in Contracts

Receivership and Foreclosure. (A) At the option of the City, subject to Applicable Law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this Franchise. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, unless: (1) The City has approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as provided by law; and (2) The purchaser has covenanted and agreed with the City to assume and be bound by all of the terms and conditions of this Franchise.

Receivership and Foreclosure. (A) At the option of the CityGrantor, subject to Applicable Lawapplicable law, this Franchise Agreement may be revoked one one-hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, proceeding unless: (1) The receivership or trusteeship is vacated within one one-hundred twenty (120) days of appointment; or (2) The receivers receiver(s) or trustees trustee(s) have, within one one-hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this FranchiseAgreement, and have remedied all defaults violations under the FranchiseAgreement. Additionally, the receivers receiver(s) or trustees trustee(s) shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers receiver(s) or trustees trustee(s) assume and agree to be bound by each and every term, term and provision and limitation of this FranchiseAgreement. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City Grantor may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise Agreement shall be revoked thirty sixty (3060) days after service of such notice, unless: (1) The City Grantor has approved the transfer of the FranchiseAgreement, in accordance with the procedures set forth in this Franchise Agreement and as provided by law; and (2) The purchaser has covenanted and agreed with the City Grantor to assume and be bound by all of the terms and conditions of this FranchiseAgreement.

Receivership and Foreclosure. ‌ (A) At the option of the CityTown, subject to Applicable Law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this Franchise. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City Town may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, unless: (1) The City Town has approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as provided by law; and (2) The purchaser has covenanted and agreed with the City Town to assume and be bound by all of the terms and conditions of this Franchise.

Receivership and Foreclosure. (A) At the option of the CityGrantor, subject to Applicable Law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this Franchise. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City Grantor may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, unless: (1) The City Grantor has approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as provided by law; and (2) The purchaser has covenanted and agreed with the City Grantor to assume and be bound by all of the terms and conditions of this Franchise.

Receivership and Foreclosure. (A) At the option of the CityGrantor, subject to Applicable Law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee Grantee, whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision provision, and limitation of this Franchise. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property property, and equipment of Grantee, the City Grantor may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, unless: (1) The City Grantor has approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as provided by law; and (2) The purchaser has covenanted and agreed with the City Grantor to assume and be bound by all of the terms and conditions of this Franchise.

Receivership and Foreclosure. (A) A. At the option of the CityCounty, subject to Applicable Lawapplicable law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy bankruptcy, or other action or proceeding, unless: (1) . The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) . The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, Franchise and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision provision, and limitation of this Franchise. (B) B. If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City County may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, unless: (1) . The City County has approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as provided by law; and (2) . The purchaser has covenanted and agreed with the City County to assume and be bound by all of the terms and conditions of this Franchise. .

Receivership and Foreclosure. (A) At the option of the CityGrantor, subject to Applicable Law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this Franchise. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City Grantor may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, unless: (1) The City Grantor has approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as provided by law; and (2) The purchaser has covenanted and agreed with the City Grantor to assume and be bound by all of the terms and conditions of this Franchise.

Receivership and Foreclosure. (A) At the option of the CityGrantor, subject to Applicable Lawapplicable law, this Franchise Agreement may be revoked one one-hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, proceeding unless: (1) The receivership or trusteeship is vacated within one one-hundred twenty (120) days of appointment; or (2) The receivers receiver(s) or trustees trustee(s) have, within one one-hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this FranchiseAgreement, and have remedied all defaults violations under the FranchiseAgreement. Additionally, the receivers receiver(s) or trustees trustee(s) shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers receiver(s) or trustees trustee(s) assume and agree to be bound by each and every term, term and provision and limitation of this FranchiseAgreement. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City Grantor may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise Agreement shall be revoked thirty (30) days after service of such notice, unless: (1) The City Grantor has approved the transfer of the FranchiseAgreement, in accordance with the procedures set forth in this Franchise Agreement and as provided by law; and (2) The purchaser has covenanted and agreed with the City Grantor to assume and be bound by all of the terms and conditions of this FranchiseAgreement.

Receivership and Foreclosure. (A) At the option of the City, subject to Applicable Law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, Franchise and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, jurisdiction by which the receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this Franchise. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, notice unless: (1) The City has approved the transfer of the Franchise, Franchise in accordance with the procedures set forth in this Franchise and as provided by law; and (2) The purchaser has covenanted and agreed with the City to assume and be bound by all of the terms and conditions of this Franchise.

Receivership and Foreclosure. (A) At the option of the CityTown, subject to Applicable Lawapplicable law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) : The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) or The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this Franchise. (B) If . there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City Town may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, unless: (1) : The City Town has approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as provided by law; and (2) and The purchaser has covenanted and agreed with the City Town to assume and be bound by all of the terms and conditions of this Franchise.

Receivership and Foreclosure. (A) a. At the option of the City, County and subject to Applicable LawLaws, this a Franchise granted hereunder may be revoked one hundred twenty (120) days after the appointment of a receiver receiver(s) or trustee trustee(s) to take over and conduct the business of Grantee Grantee, whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The i. the receivership or trusteeship is shall have been vacated within said one hundred twenty (120) days; or ii. such receivers or trustees within said one hundred twenty (120) days shall have remedied all the defaults under the Franchise or provided a plan for the remedy of appointmentsuch defaults which is satisfactory to the County; or (2) The iii. such receivers or trustees haveshall, within said one hundred twenty (120) days after their election or appointmentdays, fully complied with all the terms and provisions of this Franchise, and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the jurisdiction whereby such receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this the Franchise. (B) If there is b. In the case of a foreclosure or other involuntary judicial sale of the Cable System, in whole or any part of the plant, property and equipment of Granteein part, the City County may serve notice of revocation on upon Grantee and to the purchaser successful bidder at the such sale, and the all rights and privileges of the Grantee under this Franchise hereunder shall be revoked thirty (30) days after service of such notice, unless: (1) The City has i. County shall have approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as manner provided by law; and (2) The purchaser has ii. the successful bidder shall have covenanted and agreed with the City County to assume and be bound by all of the terms and conditions of this the Franchise.

Receivership and Foreclosure. (A) At the option of the CityTown, subject to Applicable Law, this Franchise may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, and have remedied all defaults under the Franchise. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this Franchise. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City Town may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise shall be revoked thirty (30) days after service of such notice, unless: (1) The City Town has approved the transfer of the Franchise, in accordance with the procedures set forth in this Franchise and as provided by law; and (2) The purchaser has covenanted and agreed with the City Town to assume and be bound by all of the terms and conditions of this Franchise.

Receivership and Foreclosure. Grantor and Grantee acknowledge that the following paragraphs may not be applicable or are subject to the jurisdiction of the bankruptcy court. (A) At the option of the CityGrantor, subject to Applicable Lawapplicable law, this Franchise Agreement may be revoked one one-hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, proceeding unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; , or; (2) The receivers receiver(s) or trustees trustee(s) have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this Franchise, Agreement and have remedied all defaults violations under the FranchiseAgreement. Additionally, the receivers receiver(s) or trustees trustee(s) shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers receiver(s) or trustees trustee(s) assume and agree to be bound by each and every term, term and provision and limitation of this FranchiseAgreement. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City Grantor may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise Agreement shall be revoked thirty (30) days after service of such notice, unless: (1) The City Grantor has approved the transfer of the Franchisethis Agreement, in accordance with the procedures set forth in this Franchise Agreement and as provided by law; and (2) The purchaser has covenanted and agreed with the City Grantor to assume and be bound by all of the terms and conditions of this FranchiseAgreement.

Receivership and Foreclosure. (A) At the option of the CityDistrict, subject to Applicable Law, this Franchise License may be revoked one hundred twenty (120) days after the appointment of a receiver or trustee to take over and conduct the business of Grantee whether in a receivership, reorganization, bankruptcy or other action or proceeding, unless: (1) The receivership or trusteeship is vacated within one hundred twenty (120) days of appointment; or (2) The receivers or trustees have, within one hundred twenty (120) days after their election or appointment, fully complied with all the terms and provisions of this FranchiseLicense, and have remedied all defaults under the FranchiseLicense. Additionally, the receivers or trustees shall have executed an agreement duly approved by the court having jurisdiction, by which the receivers or trustees assume and agree to be bound by each and every term, provision and limitation of this FranchiseLicense. (B) If there is a foreclosure or other involuntary sale of the whole or any part of the plant, property and equipment of Grantee, the City District may serve notice of revocation on Grantee and to the purchaser at the sale, and the rights and privileges of Grantee under this Franchise License shall be revoked thirty (30) days after service of such notice, unless: (1) The City District has approved the transfer of the FranchiseLicense, in accordance with the procedures set forth in this Franchise License and as provided by law; and (2) The purchaser has covenanted and agreed with the City District to assume and be bound by all of the terms and conditions of this FranchiseLicense.