Confessions of Judgment. In consideration of the mutual release contained in Section 3 and the other agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Company and Sillerman:
Confessions of Judgment. For value received and in the event an Event of Default occurs hereunder, Tenant does hereby empower any attorney in the Commonwealth of Pennsylvania to appear for Tenant and with or without declaration filed, confess judgment against Tenant and in favor of said Landlord, his heirs, devisees, executors, administrators or assigns, for the sum due by reason of said default in the payment of rent and other sums, including unpaid rent, and additional rental for the balance of the term and/or for the sum due by reason of any breach of covenant or agreement by Tenant herein, with costs of suit and attorney's commission of ten (10%) percent for collection, and forthwith issue writ or writs of execution thereon with release of all errors and without stay of execution. For value received and in the event an Event of Default occurs hereunder, or upon termination of the term of the Lease and the failure of Tenant to deliver possession to landlord, Tenant further, at the option of Landlord, authorizes and empowers any such attorney, either in addition to or without such judgment for the amount due according to the terms of this Lease, to appear for said Tenant and confess judgment forthwith against Tenant and in favor of Landlord in an amicable action of ejectment for the demised premises, with release of all errors and forthwith issue a writ or writs of possession for the demised premises and a writ or writs of execution for the amount of any judgment and costs, without leave of Court, and Landlord may without notice re-enter and expel Tenant from the demised premises, and also any person holding under Tenant, and in each case, this Lease or a true copy thereof shall be a sufficient warrant of any person. Tenant covenants and agrees that both of these confession of judgment clauses shall remain in effect subsequent to, and shall survive the termination of this Lease, for any reason whatsoever.
Confessions of Judgment. No later than execution of this Agreement, Defendant Xxxxxx Xxxxxxxx shall, individually and on behalf of the Defendants, execute confessions of judgment in the amount of $500,000, minus any amounts paid to date pursuant to this Agreement. Defendants shall provide Class Counsel with the original Confessions of Judgment upon execution of this Agreement and shall provide Class Counsel with email receipt of such transmission.
Confessions of Judgment. As an inducement for each Investor to enter into this Agreement, the Company has executed and delivered to such Investor an irrevocable Affidavit of Confession of Judgment in the form set forth on Exhibit C hereto (each, a “Confession of Judgment”) in the amount set forth next to such Investor’s name on Annex I hereto (such Investor’s “Confession of Judgment Amount”) that shall become effective upon the occurrence of a Forbearance Default (as defined below); provided, however, that the filing by an Investor of its Confession of Judgment shall not be deemed to be the exclusive remedy available to such Investor in the event that a Forbearance Default occurs, and shall in no way limit the right of such Investor to seek recovery of amounts (including, without limitation, any additional amounts accruing since [the Effective Date]) payable to such Investor pursuant to this Agreement, the Notes or any other Transaction Document in excess of such Investor’s Current Obligation Amount or Confession of Judgment Amount.
Confessions of Judgment. 13.10.1 IN ADDITION TO THE RIGHTS AND REMEDIES PROVIDED ABOVE IN THIS SECTION 13, IF AN EVENT OF DEFAULT OCCURS RELATING TO TENANT'S NON-PAYMENT OF THE RENT OR OTHER SUMS DUE HEREUNDER, TENANT HEREBY AUTHORIZES ANY ATTORNEY OF ANY COURT OF RECORD OF THE COMMONWEALTH OF PENNSYLVANIA TO APPEAR FOR TENANT AND TO CONFESS JUDGMENT AGAINST TENANT, AND IN FAVOR OF LANDLORD, FOR ALL RENT AND OTHER SUMS DUE HEREUNDER PLUS COSTS AND AN ATTORNEY'S COLLECTION COMMISSION EQUAL TO THE GREATER OF 10% OF ALL RENT AND OTHER SUMS OR $1,000, FOR WHICH THIS LEASE OR A TRUE AND CORRECT COPY HEREOF SHALL BE GOOD AND SUFFICIENT WARRANT. TENANT UNDERSTANDS THAT THE FOREGOING PERMITS LANDLORD TO ENTER A JUDGMENT AGAINST TENANT WITHOUT PRIOR NOTICE OR HEARING. ONCE SUCH A JUDGMENT HAS BEEN ENTERED AGAINST TENANT, ONE OR MORE WRITS OF EXECUTION OR WRITS OF GARNISHMENT MAY BE ISSUED THEREON WITHOUT FURTHER NOTICE TO TENANT AND WITHOUT A HEARING, AND, PURSUANT TO SUCH WRITS, LANDLORD MAY CAUSE THE SHERIFF OF THE COUNTY IN WHICH ANY PROPERTY OF TENANT IS LOCATED TO SEIZE TENANT'S PROPERTY BY LEVY OR ATTACHMENT. IF THE JUDGMENT AGAINST TENANT REMAINS UNPAID AFTER SUCH LEVY OR ATTACHMENT, LANDLORD CAN CAUSE SUCH PROPERTY TO BE SOLD BY THE SHERIFF EXECUTING THE WRITS, OR, IF SUCH PROPERTY CONSISTS OF A DEBT OWED TO TENANT BY ANOTHER ENTITY, LANDLORD CAN CAUSE SUCH DEBT TO BE PAID DIRECTLY TO LANDLORD IN AN AMOUNT UP TO BUT NOT TO EXCEED THE AMOUNT OF THE JUDGMENT OBTAINED BY LANDLORD AGAINST TENANT, PLUS THE COSTS OF THE EXECUTION. SUCH AUTHORITY SHALL NOT BE EXHAUSTED BY ONE EXERCISE THEREOF, BUT JUDGMENT MAY BE CONFESSED AS AFORESAID FROM TIME TO TIME AS OFTEN AS ANY OF THE RENT AND OTHER SUMS SHALL FALL DUE OR BE IN ARREARS, AND SUCH POWERS MAY BE EXERCISED AS WELL AFTER THE EXPIRATION OF THE INITIAL TERM OF THIS LEASE AND DURING ANY EXTENDED OR RENEWAL TERM OF THIS LEASE AND AFTER THE EXPIRATION OF ANY EXTENDED OR RENEWAL TERM OF THIS LEASE. Initials on behalf of Tenant: DS Initials on behalf of Tenant: DS Initials on behalf of Tenant: DS
Confessions of Judgment. In the event that payment is not made in ------------------------- accordance with the terms set forth above, McCarthy shall be allowed to file with the Court the Confessions xx Xxdgment under the following terms:
a. If payment of the $20,000.00 described in paragraph 3(b) above is not paid to McCarthy within 91 days of execution of this Settlement Agreemxxx, XxCarthy can file with the Court a Confession of Judgment in the xxxxxx of $15,000.00; and
b. If payment of the $25,000.00 described in paragraph 3(c) above is not paid to McCarthy within 366 days of execution of this Settlement Agreement, XxXxxxxx can file with the Court a Confession of Judgment in txx xxxxxt of $25,000.00.
Confessions of Judgment. Acceptance by First Healthcare or its ----------------------- assignee or transferee of any Confession of Judgment shall occur when and only when, following the occurrence of a Forbearance Default, (i) First Healthcare shall have requested and received such Confession of Judgment from the Escrow Agent and (ii) First Healthcare or its assignee or transferee shall have presented such Confession of Judgment to a court of competent jurisdiction for entry by such court. If any Guarantor Confession of Judgment is accepted by First Healthcare or its assignee or transferee pursuant to this Section and if any Deed in Lieu of Foreclosure is accepted by First Healthcare or its assignee or transferee pursuant to Section 3.25(c) or Section 3.25(d), then the amount of the judgment under such Guarantor Confession of Judgment shall be credited with an amount equal to the amount of the Obligations under the Transaction Documents that are secured by the Mortgage or the Deed of Trust described in such Deed in Lieu of Foreclosure.
Confessions of Judgment. Each Buyer agrees it will not file such Buyer’s Confession unless and until an Event of Default (as defined in the Notes) under such Buyer’s Note has occurred; provided, however, that upon such an Event of Default, such Buyer shall be entitled to immediately file such Buyer’s Confession in an ex parte fashion.
Confessions of Judgment. The Buyer shall not file the Confessions of Judgment unless and until an Event of Default (as defined in the Notes) shall have occurred.
Confessions of Judgment. The Confessions of Judgment shall continue to be held by HSBC. Upon the occurrence of a default under this Agreement, including, without limitation, the failure of Debtors to pay HSBC, the First Installment, the Second Installment or the Release payment when due and payable, or upon the occurrence of default or an Event of Default under the settlement Agreement or any loan document, HSBC may file any or all of the confessions of judgment in accordance with the settlement agreement.
