Judgments; Attachments. (i) There is entered against any Loan Party (other than a Loan Party that is an Immaterial Subsidiary) or any Material Non-Guarantor Subsidiary a final judgment or order for the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer has been notified of such judgment or order and has not disputed coverage) and such judgment or order shall not have been satisfied, vacated, discharged or stayed or bonded pending an appeal for a period of 60 consecutive days; or (ii) in respect of an obligation in excess of the Threshold Amount, any writ or warrant of attachment or execution or similar process is otherwise issued or levied against all or any material part of the property of the Loan Parties (other than a Loan Party that is an Immaterial Subsidiary) and any Material Non-Guarantor Subsidiary, taken as a whole, and is not released, vacated or fully bonded within 60 days after its issue or levy; or
Appears in 5 contracts
Samples: Security Agreement, Credit Agreement (Meredith Corp), Credit Agreement (Time Inc.)
