Common use of CONFESSION OF JUDGEMENT Clause in Contracts

CONFESSION OF JUDGEMENT. THE LOAN PARTIES HEREBY AUTHORIZE ANY ATTORNEY-AT-LAW TO APPEAR IN ANY COURT OF RECORD IN ANY COUNTY IN THE STATE OF OHIO OR ELSEWHERE WHERE A LOAN PARTY HAS A PLACE OF BUSINESS, SIGNED THIS AGREEMENT OR CAN BE FOUND, AFTER THE LENDER DECLARES A DEFAULT AND ACCELERATES THE BALANCES DUE UNDER THIS AGREEMENT, TO WAIVE THE ISSUANCE OF SERVICE OF PROCESS AND CONFESS JUDGMENT AGAINST THE LOAN PARTIES IN FAVOR OF THE LENDER FOR THE AMOUNTS THEN APPEARING DUE, TOGETHER WITH THE COSTS OF SUIT, AND THEREUPON TO RELEASE ALL ERRORS AND WAIVE ALL RIGHT OF APPEAL AND STAY OF EXECUTION. THE LOAN PARTIES AGREE AND CONSENT THAT THE ATTORNEY CONFESSING JUDGMENT ON BEHALF OF THE LOAN PARTIES HEREUNDER MAY ALSO BE COUNSEL TO THE LENDER OR ANY OF ITS RESPECTIVE AFFILIATES, WAIVES ANY CONFLICT OF INTEREST WHICH MIGHT OTHERWISE ARISE, AND CONSENTS TO THE LENDER PAYING SUCH CONFESSING ATTORNEY A LEGAL FEE OR ALLOWING SUCH ATTORNEY’S FEES TO BE PAID FROM ANY PROCEEDS OF COLLECTION OF THIS AGREEMENT OR COLLATERAL SECURITY THEREFOR.

CONFESSION OF JUDGEMENT. FOR THE LOAN PARTIES PURPOSE OF OBTAINING POSSESSION OF THE LEASED SPACE, TENANT HEREBY AUTHORIZE AUTHORIZES AND EMPOWERS ANY ATTORNEY-AT-LAW TO APPEAR IN ATTORNEY OF ANY COURT OF RECORD IN THE COMMONWEALTH OF PENNSYLVANIA OR ELSEWHERE, AS ATTORNEY FOR TENANT AND ALL PERSONS CLAIMING UNDER OR THROUGH TENANT (i) TO SIGN AN AGREEMENT FOR ENTERING IN ANY COUNTY COMPETENT COURT AN ACTION IN EJECTMENT FOR POSSESSION OF THE STATE LEASED SPACE, AND/OR (ii) TO APPEAR FOR AND CONFESS JUDGEMENT AGAINST TENANT FOR POSSESSION OF OHIO THE LEASED SPACE, AND AGAINST ALL PERSONS CLAIMING UNDER OR ELSEWHERE WHERE A LOAN PARTY HAS A PLACE THROUGH TENANT, IN FAVOR OF BUSINESSLANDLORD, SIGNED FOR RECOVERY BY LANDLORD OF POSSESSION THEREOF, FOR WHICH THIS AGREEMENT OR CAN A COPY HEREOF VERIFIED BY AFFIDAVIT, SHALL BE FOUND, AFTER THE LENDER DECLARES A DEFAULT SUFFICIENT WARRANT; AND ACCELERATES THE BALANCES DUE UNDER THIS AGREEMENT, TO WAIVE THE ISSUANCE THEREUPON A WRIT OF SERVICE OF PROCESS AND CONFESS JUDGMENT AGAINST THE LOAN PARTIES IN FAVOR POSSESSION MAY IMMEDIATELY ISSUE FOR POSSESSION OF THE LENDER FOR THE AMOUNTS THEN APPEARING DUELEASED SPACE, TOGETHER WITH THE COSTS OF SUIT, WITHOUT ANY PRIOR WRIT OR PROCEEDING WHATSOEVER AND THEREUPON TO RELEASE ALL ERRORS AND WAIVE ALL RIGHT OF APPEAL AND WITHOUT ANY STAY OF EXECUTION. THE LOAN PARTIES AGREE AND CONSENT THAT THE ATTORNEY CONFESSING JUDGMENT ON BEHALF OF THE LOAN PARTIES HEREUNDER MAY ALSO BE COUNSEL TO THE LENDER OR ANY OF ITS RESPECTIVE AFFILIATESIf for any reason after such action set forth herein has been commenced it shall be discontinued or suspended, WAIVES ANY CONFLICT OF INTEREST WHICH MIGHT OTHERWISE ARISEor possession of the Leased Space shall remain in or be restored to Tenant, AND CONSENTS TO THE LENDER PAYING SUCH CONFESSING ATTORNEY A LEGAL FEE OR ALLOWING SUCH ATTORNEY’S FEES TO BE PAID FROM ANY PROCEEDS OF COLLECTION OF THIS AGREEMENT OR COLLATERAL SECURITY THEREFORLandlord shall have the right for the same default or any subsequent default to bring an action in ejectment and/or an action to confess judgement for possession of the Leased Space therein before or after the institution of proceedings to enforce the Lease, or after entry of judgement HEALTHDRIVE LEASE 09/20/96 28 therein, it being the understanding of the parties that the authorization to pursue such proceedings for obtaining possession and confession of judgement therein is an essential part of the remedies for enforcement of the Lease. The foregoing warrants and powers to confess judgement shall not be deemed to have been exhausted by any single exercise thereof, whether or not such exercise shall be held by any court to be invalid, voidable or void, but may be exercised from time to time, as often as Landlord shall elect, until all defaults under this Lease have been cured and all sums payable or that may become payable by Tenant have been paid in full.