Common use of Confessed Judgment Clause in Contracts

Confessed Judgment. Upon the occurrence of an Event of Default hereunder, the Payor hereby authorizes any attorney designated by the Payee or any clerk of any court of record to appear for the Payor in any court of record and confess judgment against the Payor, without prior hearing, in favor of the Payee for, and in an amount equal to, the full amount then due and payable by the Payor hereunder, all other amounts then due and payable by the Payor to the Payee under the provisions of this Note, costs of suit and attorneys' fees of 15% of the amount of such obligations. In connection therewith, the Payor hereby releases, to the extent permitted by applicable laws, all errors and all rights of exemption, appeal, stay of execution, inquisition, and other rights to which the Payor may otherwise be entitled under the applicable laws now in force and which may hereafter be enacted, including, without limitation, those of the United States of America. The authority and power to appear for and enter judgment against the Payor shall not be exhausted by one or more exercises thereof or by any imperfect exercise thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority may be exercised on one or more occasions or from time to time in the same or different jurisdictions as often as the Payee shall deem necessary and desirable, for all of which this Note shall be sufficient warrant.

Confessed Judgment. Upon the occurrence of an Event of Default a default hereunder, the Payor Maker hereby authorizes any attorney designated by the Payee Holder or any clerk of any court of record to appear for the Payor Maker in any court of record and confess judgment against the PayorMaker, without prior hearing, in favor of the Payee Holder for, and in an amount equal to, the full amount then due and payable by the Payor Maker hereunder, all other amounts then due and payable by the Payor Maker to the Payee Holder under the provisions of this Note, costs of suit and attorneys' fees of 15% of the amount of such obligations. In connection therewith, the Payor Maker hereby releases, to the extent permitted by applicable laws, all errors and all rights of exemption, appeal, stay of execution, inquisition, and other rights to which the Payor Maker may otherwise be entitled under the applicable laws now in force and which may hereafter be enacted, including, without limitation, those of the United States of America. The authority and power to appear for and enter judgment against the Payor Maker shall not be exhausted by one or more exercises thereof or by any imperfect exercise thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority may be exercised on one or more occasions or from time to time in the same or different jurisdictions as often as the Payee Holder shall deem necessary and desirable, for all of which this Note shall be sufficient warrant.

Confessed Judgment. Upon the occurrence of an Event of Default hereunder, the Payor Maker hereby authorizes any attorney designated by the Payee Holder or any clerk of any court of record to appear for the Payor Maker in any court of record and confess judgment against the PayorMaker, without prior hearing, in favor of the Payee Holder for, and in an amount equal to, the full amount then due and payable by the Payor Maker hereunder, all other amounts then due and payable by the Payor Maker to the Payee Holder under the provisions of this Note, costs of suit and attorneys' fees of 15% of the amount of such obligations. In connection therewith, the Payor Maker hereby releases, to the extent permitted by applicable laws, all errors and all rights of exemption, appeal, stay of execution, inquisition, and other rights to which the Payor Maker may otherwise be entitled under the applicable laws now in force and which may hereafter be enacted, including, without limitation, those of the United States of America. The authority and power to appear for and enter judgment against the Payor Maker shall not be exhausted by one or more exercises thereof or by any imperfect exercise thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority may be exercised on one or more occasions or from time to time in the same or different jurisdictions as often as the Payee Holder shall deem necessary and desirable, for all of which this Note shall be sufficient warrant.