Common use of Judgment by Confession Clause in Contracts

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]

Judgment by Confession. The provisions of this paragraph shall not apply to a loan for agricultural purposes. Borrower Xxxxxxxx authorizes any attorney-at-law designated by Xxxxxx Administrative Agent to confess judgment against Xxxxxxxx in any court of record or, in the alternative, authorizes Xxxxxx Administrative Agent 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]

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 Administrative Agent to confess judgment against Xxxxxxxx Borrower in any court of record or, in the alternative, authorizes Xxxxxx Administrative Agent to instruct the clerk of any court of record to confess judgment against XxxxxxxxBorrower, 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 NoteNotes]

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 Lender to confess judgment against Xxxxxxxx Borrower in any court of record or, in the alternative, authorizes Xxxxxx Lender to instruct the clerk of any court of record to confess judgment against XxxxxxxxBorrower, 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]