Definitions
from The American Heritage® Dictionary of the English Language, 4th 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.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- adj. Of or pertaining to administration or execution.
from the GNU version of the Collaborative International Dictionary of English
- adj. Pertaining to administration, or putting the laws in force; executive.
- adj. Designed to be executed or carried into effect in time to come, or to take effect on a future contingency
from The 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.
Etymologies
Sorry, no etymologies found.
Examples
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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.
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Yesterday's term was executory, which is defined as:
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This clause is self-executory, that is to say, its enforcement is dependent upon the judicial process.
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For treaty provisions of an "executory" character, _see_ ibid.
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These contracts are therefore, treated as 'executory' or 'own use' contracts.
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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.
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But the investors argue the derivatives contracts aren't executory contracts at all because they were terminated when Lehman collapsed.
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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
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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
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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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