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Assignment of an executory contract in bankruptcy or a

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workout. If a corporation underwent...
Assignment of an executory contract in bankruptcy or a workout. If a corporation underwent an involuntary wind down. Say an ABC (Assignment for the benefit of Creditors) would the "sale of all or substantially all of its assets" of it assets c;lause be invoked?14.2 Assignment. Neither this Agreement nor any interest hereunder is assignable in part or whole by either Party without the prior written consent of the other. Notwithstanding this restriction, either Party may assign this Agreement to a successor by merger, consolidation, or sale of all or substantially all of its assets. This Agreement will be binding upon the successors and permitted assigns of the Parties. Any assignment which is not in accordance with this Section will be void and without effect.
Submitted: 3 months ago.Category: Bankruptcy Law
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8/24/2017
Bankruptcy Lawyer: Phillips Esq., Attorney-at-Law replied 3 months ago
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 20,009
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Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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Bankruptcy Lawyer: Phillips Esq., Attorney-at-Law replied 3 months ago

I am sorry, but I do not understand the premise of your question:

"Say an ABC (Assignment for the benefit of Creditors) would the "sale of all or substantially all of its assets" of it assets c;lause be invoked?"

Kindly clarify.

Thank you for your cooperation.

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