Definitions
American Heritage® Dictionary of the English Language, Fourth Edition
- adj. Of or relating to execution or administration; executive.
- adj. In effect; operative.
- adj. Law Intended to go into effect or having the potential of becoming effective at a future time; contingent.
Century Dictionary and Cyclopedia
- Of or pertaining to execution, especially to the performance of official duties; required or fitted to be carried into effect; executive.
- In law, to be executed or carried into effect in future; containing provision for its execution or carrying into effect; intended or of such a nature as to take effect on a future contingency: as, an executory contract, devise, limitation, or remainder.
Wiktionary
- adj. Of or pertaining to administration or execution.
GNU Webster's 1913
- adj. Pertaining to administration, or putting the laws in force; executive.
- adj. (Law) Designed to be executed or carried into effect in time to come, or to take effect on a future contingency
Examples
“In both instances, however, the investors' lawyers balked at Lehman's plan because the liquidating investment bank intends to assume the derivatives deals as so-called executory contracts—that is, a contract under which both parties still have performance obligations remaining.”
The Wall Street Journal: Smaller Investors Balk at Lehman Bankruptcy Plan
“Yesterday's term was executory, which is defined as:”
“This clause is self-executory, that is to say, its enforcement is dependent upon the judicial process.”
“For treaty provisions of an "executory" character, _see_ ibid.”
“These contracts are therefore, treated as 'executory' or 'own use' contracts.”
“Of most importance to Guild locals is a debtor's right, during these proceedings, to reject any "executory" contract-that is, a contract under which future services are owed.”
“But the investors argue the derivatives contracts aren't executory contracts at all because they were terminated when Lehman collapsed.”
The Wall Street Journal: Smaller Investors Balk at Lehman Bankruptcy Plan
“Tatil: Connecticut Lawyer: If derivatives were treated like other executory contracts, the debtor could reject underwater derivatives, the claims would be netted out, and the counterparty would be paid in bankruptcy dollars.”
The Volokh Conspiracy » Derivatives Clearinghouses and Exchanges
“Connecticut Lawyer: If derivatives were treated like other executory contracts, the debtor could reject underwater derivatives, the claims would be netted out, and the counterparty would be paid in bankruptcy dollars.”
The Volokh Conspiracy » Derivatives Clearinghouses and Exchanges
“If derivatives were treated like other executory contracts, the debtor could reject underwater derivatives, the claims would be netted out, and the counterparty would be paid in bankruptcy dollars.”
The Volokh Conspiracy » Derivatives Clearinghouses and Exchanges
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