Common use of Civil Penalty Clause in Contracts

Civil Penalty. 1. Within thirty (30) days of the Effective Date of this Settlement Agreement, Xxxxxx agrees to pay a civil penalty in the amount of Twenty-five Thousand Dollars ($25,000) by wire transfer, certified check or other guaranteed funds, pursuant to the instructions of the Attorneys General. 2. Xxxxxx warrants that, as of the Effective Date of this Settlement Agreement, he is not insolvent, nor will the payment required under this Settlement Agreement render him insolvent, as that term is used in the United States Bankruptcy Code.

Civil Penalty. 1. Within thirty (30) days of the Effective Date of this Settlement Agreement, Xxxxxx Xxxxx agrees to pay a civil penalty in the amount of Twenty-five Thousand Dollars ($25,000) by wire transfer, certified check or other guaranteed funds, pursuant to the instructions of the Attorneys General. 2. Xxxxxx Xxxxx warrants that, as of the Effective Date of this Settlement Agreement, he is not insolvent, nor will the payment required under this Settlement Agreement render him insolvent, as that term is used in the United States Bankruptcy Code.