Common use of Enforcement of Judgments Clause in Contracts

Enforcement of Judgments. Any final and conclusive monetary judgment for a definite sum obtained against the Company in a New York Court in respect of this Agreement would be treated by the courts of the Cayman Islands as a cause of action in itself and sued upon as a debt at common law so that no retrial of the issues would be necessary; provided that (A) the New York Court had jurisdiction in the matter and the Company either submitted to such jurisdiction or was resident or carrying on business within such jurisdiction and was duly served with process; (B) the judgment given by the New York Court was not in respect of penalties, fines, taxes or similar fiscal or revenue obligations; (C) in obtaining judgment there was no fraud on the part of the person in whose favour judgment was given or on the part of the New York Court; (D) recognition or enforcement in the Cayman Islands would not be contrary to public policy; and (E) the proceedings pursuant to which judgment was obtained were not contrary to the principles of natural justice.