Judgment by Confession Sample Clauses

Judgment by Confession. LESSEE HEREBY EMPOWERS THE PROTHONOTARY OR ANY ATTORNEY OF ANY COURT OF RECORD WITHIN THE UNITED STATES OR ELSEWHERE TO APPEAR FOR LESSEE AND, WITH OR WITHOUT ONE OR MORE DECLARATIONS FILED, ENTER A JUDGMENT OR JUDGMENTS AGAINST LESSEE IN FAVOR OF LESSOR, AS OF ANY TERM, FOR THE SUM THEN DUE AND PAYABLE UNDER THIS LEASE, WITH COSTS OF SUIT AND ATTORNEY'S COMMISSION OF 15% FOR COLLECTION; WITH RELEASE OF ALL ERRORS AND WITHOUT STAY OF EXECUTION, AND INQUISITION AND EXTENSION UPON ANY LEVY IS HEREBY WAIVED AND CONDEMNATION AGREED TO, AND THE EXEMPTION OF ALL PROPERTY FROM LEVY AND SALE ON ANY EXECUTION HEREON IS ALSO HEREBY EXPRESSLY WAIVED AND NO BENEFIT OF EXEMPTION SHALL BE CLAIMED UNDER OR BY VIRTUE OF ANY EXEMPTION LAW NOW IN FORCE OR WHICH MAY HEREAFTER BE ENACTED.
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Judgment by Confession. The provisions of this paragraph shall not apply to a loan for agricultural purposes. Borrower authorizes any attorney-at-law designated by Xxxxxx to confess judgment against Xxxxxxxx in any court of record or, in the alternative, authorizes Xxxxxx to instruct the clerk of any court of record to confess judgment against Xxxxxxxx, at any time after the Loan becomes due (whether upon acceleration or otherwise) for the unpaid balance of the Loan plus interest, together with court costs and attorneys’ fees equal to 15% of the unpaid balance of the Loan, and without stay of execution. [for Maryland loans only; also add to Note]
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Judgment by Confession. Borrower hereby duly constitutes and appoints ______________ and _________________ as the true and lawful attorney-in-fact for it in its name, place and stead, and upon the occurrence of an Event of Default, to confess judgment against it in the Circuit Court of , Virginia, upon this Agreement and all amounts owed hereunder, hereby ratifying and confirming the acts of said attorney-in-fact as if done by itself, expressly waiving benefit of any homestead or other exemption laws. Administrative Agent shall have the right to substitute another attorney-in-fact for any of the aforementioned persons without notice to Borrower. [for Virginia loans only; also add to Notes]
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Judgment by Confession a. To secure the payment described in paragraph I.A.1, Defendant Tropical Breeze shall execute and deliver, at the time of the Effective Date of this Settlement Agreement, the accompanying Affidavit for Judgment by Confession (attached hereto as Exhibit A), confessing judgment for the Settlement Amount of $530,000, plus collection fees of twenty-two percent (22%) of any unpaid Settlement Amount at the time of any subsequent default, plus statutory costs of $15.00. Plaintiff will reduce the Settlement Amount by the principal amount of payments made by Defendants to Plaintiff to calculate the Unpaid Settlement Amount at the time of any subsequent default.
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Judgment by Confession. Pro Uro Care Inc. xxxxxx agrees to execute an Affidavit for Judgment by Confession in the principal amount of One Hundred Seventeen Thousand Dollars ($117,000.00) in the form annexed hereto as Exhibit A. Pro Uro Care Inc. further agrees that if any payment provided for in Paragraph 1 is not paid on or before the due date, and such default is not cured within twenty (20) days of the failure to make such payment, Plaintiff shall be entitled to record and enforce a Judgment by Confession to be obtained pursuant to the Affidavit of Judgment by Confession, without further notice. The judgment obtained pursuant to the Affidavit of Judgment by Confession shall include interest at the rate of Nine Percent (9%) per annum, calculated in accordance with New York CPLR 5001 and 5004, from the date of default. Plaintiff shall be entitled to enforce said judgment by any lawful means. Upon the execution of this Agreement, Pro Uro Care Inc. shall execute the Affidavit for Judgment by Confession in the form annexed hereto as Exhibit A. Plaintiff, or its counsel, shall retain the original executed Affidavit for Judgment by Confession.
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Judgment by Confession. In addition to, and not in lieu of any of the foregoing rights granted to Landlord: THE FOLLOWING PARAGRAPHS SET FORTH WARRANTS OF AUTHORITY FOR A PROTHONOTARY, CLERK OF COURT, OR ATTORNEY TO CONFESS JUDGMENT AGAINST TENANT.
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Judgment by Confession. Company has executed the Consent to Entry of Judgment by Confession attached hereto as Exhibit B (the “Confession”) for the benefit of Typenex. At any time following a material breach of this Agreement that is not cured within five (5) business days of the occurrence of such breach, Typenex may file the Confession in its reasonable discretion in the final judgment amount of $500,000.00 (the “Judgment Amount”). In addition, default interest at an interest rate equal to the lesser of 12% per annum or the maximum rate permitted under applicable law, compounding daily, shall accrue on the Judgment Amount from the date that is five (5) business days from the date the Confession is filed until the Judgment Amount, with interest, is paid in full. For purposes of illustration only and not by way of limitation, each of the following shall be considered a material breach of this Agreement: (a) Company’s failure to timely deliver the First Installment Shares or the Second Installment Shares, (b) Company’s failure to timely deliver the purchase price associated with any exercise by Typenex of the Put Right, or (c) Company’s failure to provide adequate current public information pursuant to Section 7.1(d) below.
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Judgment by Confession. Together with the execution of this Agreement, Borrower shall execute and deliver to Lender a Judgment by Confession substantially in the form attached hereto as Exhibit B (the “Confession”).
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Judgment by Confession. Together with its execution of this Agreement, Borrower shall execute a Judgment by Confession in the form attached hereto as Exhibit A (the “Confession”), which, in addition to any other rights or remedies Lender may have under this Agreement, the Loan Documents or applicable law, Lender may, in its sole discretion, cause to be entered into a court of competent jurisdiction upon Borrower’s default of any provision set forth in this Agreement, the Debenture, or any of the other Loan Documents. The Confession shall provide for a judgment against Borrower equal to the Judgment Amount (as defined in the Confession). In addition, any amount remaining due under the Debenture Balance, including any amount in excess of the Judgment Amount, shall be immediately due and payable and Lender may pursue any and all available remedies to collect that amount.
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Related to Judgment by Confession

  • Confession of Judgment THE FOLLOWING PARAGRAPH SETS FORTH A WARRANT OF AUTHORITY FOR ANY ATTORNEY TO CONFESS JUDGMENT AGAINST THE BORROWER. IN GRANTING THIS WARRANT OF ATTORNEY TO CONFESS JUDGMENT AGAINST THE BORROWER, BORROWER, FOLLOWING CONSULTATION WITH (OR DECISION NOT TO CONSULT) COUNSEL FOR BORROWER AND WITH KNOWLEDGE OF THE LEGAL EFFECT HEREOF, HEREBY KNOWINGLY, INTENTIONALLY, VOLUNTARILY AND UNCONDITIONALLY WAIVES ANY AND ALL RIGHTS BORROWER HAS OR MAY HAVE TO PRIOR NOTICE AND AN OPPORTUNITY OF REHEARING UNDER THE RESPECTIVE CONSTITUTIONS AND LAWS OF THE UNITED STATES OF AMERICA, THE COMMONWEALTH OF PENNSYLVANIA, OR ELSEWHERE. IT IS SPECIFICALLY ACKNOWLEDGED BY BORROWER THAT LENDER HAS RELIED ON THIS WARRANT OF ATTORNEY AS AN INDUCEMENT TWO GRANT FINANCIAL ACCOMMODATIONS TO BORROWER. UPON AND FOLLOWING THE OCCURRENCE OF AN UNCURED EVENT OF DEFAULT, BORROWER HEREBY AUTHORIZES AND EMPOWERS ANY ATTORNEY OF ANY COURT OF RECORD OR THE PROTHONOTARY OR CLERK OF ANY COUNTY IN THE COMMONWEALTH OF PENNSYLVANIA, OR IN ANY JURISDICTION WHERE PERMITTED BY LAW OR THE CLERK OF ANY UNITED STATES DISTRICT COURT, TO APPEAR FOR BORROWER IN ANY AND ALL ACTIONS WHICH MAY BE BROUGHT HEREUNDER AND ENTER AND CONFESS JUDGMENT AGAINST BORROWER OR ANY OF THEM IN FAVOR OF LENDER FOR SUCH SUMS AS ARE DUE OR MAY BECOME DUE HEREUNDER OR UNDER ANY OTHER LOAN DOCUMENT, TOGETHER WITH COSTS OF SUIT AND ACTUAL COLLECTION COSTS INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS’ FEES EQUAL TO FIVE PERCENT (5%) OF THE LIABILITIES THEN DUE AND OWING BUT IN NO EVENT LESS THAN $5,000, WITH OR WITHOUT DECLARATION, WITHOUT PRIOR NOTICE, WITHOUT STAY OF EXECUTION AND WITH RELEASE OF ALL PROCEDURAL ERRORS AND THE RIGHT TO ISSUE EXECUTIONS FORTHWITH. IF A COPY OF THIS NOTE VERIFIED BY AFFIDAVIT OF ANY OFFICER OF LENDER SHALL HAVE BEEN FILED IN SUCH ACTION, IT SHALL NOT BE NECESSARY TO FILE THE ORIGINAL THEREOF AS A WARRANT OF ATTORNEY, ANY PRACTICE OR USAGE TO THE CONTRARY NOTWITHSTANDING. THE AUTHORITY HEREIN GRANTED TO CONFESS JUDGMENT SHALL NOT BE EXHAUSTED BY ANY SINGLE EXERCISE THEREOF, BUT SHALL CONTINUE AND MAY BE EXERCISED FROM TIME TO TIME AS OFTEN AS LENDER SHALL FIND IT NECESSARY AND DESIRABLE AND AT ALL TIMES UNTIL FULL PAYMENT OF ALL AMOUNTS DUE HEREUNDER AND UNDER THE OTHER LOAN DOCUMENTS. LENDER MAY CONFESS ONE OR MORE JUDGMENTS IN THE SAME OR DIFFERENT JURISDICTIONS FOR ALL OR ANY PART OF BORROWER’S OBLIGATIONS ARISING HEREUNDER OR UNDER ANY OTHER LOAN DOCUMENT TO WHICH BORROWER IS A PARTY, WITHOUT REGARD TO WHETHER JUDGMENT HAS THERETOFORE BEEN CONFESSED ON MORE THAN ONE OCCASION FOR THE SAME OBLIGATIONS. IN THE EVENT THAT ANY JUDGMENT CONFESSED AGAINST BORROWER IS STRICKEN OR OPENED UPON APPLICATION BY OR ON BEHALF OF BORROWER FOR ANY REASONS, LENDER IS HEREBY AUTHORIZED AND EMPOWERED TO AGAIN APPEAR FOR AND CONFESS JUDGMENT AGAINST BORROWER FOR ANY PART OR ALL OF THE LIABILITIES DUE AND OWING UNDER THIS NOTE AND THE OTHER LOAN DOCUMENTS, AS HEREIN PROVIDED.

  • Judgment and Proceedings (1) The entry of any judgment or decree against Servicer or any of its respective Subsidiaries if the aggregate amount of all judgments and decrees then outstanding against Servicer and its Subsidiaries exceeds $1,000,000, (2) the institution of any litigation, arbitration proceeding or governmental proceeding against Servicer that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect and (3) the entry of any judgment or decree or the institution of any litigation, arbitration proceeding or governmental proceeding against Seller.

  • Judgment and Attachments Any money judgment, writ or warrant of attachment, or similar process (other than those described elsewhere in this SECTION 7.1) involving (1) an amount in any individual case in excess of $250,000 or (2) an amount in the aggregate at any time in excess of $500,000 (in either case to the extent not adequately covered by insurance in Agent's sole discretion as to which the insurance company has acknowledged coverage) is entered or filed against one or more of the Credit Parties or any of their respective assets and remains undischarged, unvacated, unbonded or unstayed for a period of thirty (30) days or in any event later than five (5) Business Days prior to the date of any proposed sale thereunder; or

  • Attorney's Fee If any legal action or any arbitration or other proceeding is brought for the enforcement or interpretation of this Agreement, or because of an alleged dispute, breach, default or misrepresentation in connection with or related to this Agreement, the successful or prevailing party shall be entitled to recover reasonable attorneys' fees and other costs in connection with that action or proceeding, in addition to any other relief to which it or they may be entitled.

  • Judgment Creditors In the event that any Second Priority Secured Party becomes a judgment lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment lien shall be subject to the terms of this Agreement for all purposes (including in relation to the First Priority Liens and the First Priority Obligations) to the same extent as all other Liens securing the Second Priority Obligations are subject to the terms of this Agreement.

  • Governing Law; Attorneys’ Fees This Agreement shall be governed by the laws of the State of California without regard to the conflicts of law provisions thereof. In the event legal proceedings are commenced to enforce this Agreement, the prevailing party shall be entitled to collect its reasonable attorneys’ fees from the non-prevailing party.

  • Attorneys’ Fees, Etc If either Party to this Agreement resorts to legal proceedings to enforce this Agreement, the prevailing Party in such proceedings shall be entitled to recover all costs incurred by such Party, including reasonable attorneys’ fees, in addition to any other relief to which such Party may be entitled.

  • Litigation and Judgments Except as specifically disclosed in Schedule 6.5 as of the date hereof, there is no action, suit, investigation, or proceeding before or by any Governmental Authority or arbitrator pending, or to the knowledge of Borrower, threatened against or affecting Borrower, any of its Subsidiaries, or any other Obligated Party that could, if adversely determined, result in a Material Adverse Event. There are no outstanding judgments against Borrower, any of its Subsidiaries, or any other Obligated Party.

  • Judgment (a) If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder in Dollars into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Agent could purchase Dollars with such other currency at Citibank’s principal office in London at 11:00 A.M. (London time) on the Business Day preceding that on which final judgment is given.

  • Litigation and Attorneys' Fees Borrower will pay promptly to Bank upon demand, reasonable attorneys' fees (including but not limited to the reasonable estimate of the allocated costs and expenses of in-house legal counsel and legal staff) and all costs and other expenses paid or incurred by Bank in collecting, modifying or compromising the Loan or in enforcing or exercising its rights or remedies created by, connected with or provided for in this Agreement or any of the Loan Documents, whether or not an arbitration, judicial action or other proceeding is commenced. If such proceeding is commenced, only the prevailing party shall be entitled to attorneys' fees and court costs.

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