Common use of Judgments Binding Clause in Contracts

Judgments Binding. If claim is ever made upon the Issuing Bank, any of the Banks, any of the Agents, any subsequent holder of a Note or issuer of, or participant in, any Letter of Credit for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property or (b) any settlement or compromise of any such claim effected by such payee with any such claimant (including the Borrower) then and in such event the Parent agrees that any such judgment, decree, order, settlement or compromise shall be binding upon the Parent, notwithstanding any revocation hereof or the cancellation of any Note or other instrument evidencing any liability of any other Credit Party and the Parent shall be and remain liable to the aforesaid payees hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee.

Judgments Binding. If claim is ever made upon the Issuing Bank, any of the Banks, the Issuing Bank, any of the Agents, any subsequent holder of a Note or issuer of, or participant in, any Letter of Credit for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property or (b) any settlement or compromise of any such claim effected by such payee with any such claimant (including the Borrower) then and in such event each of the Parent Subsidiary Guarantors agrees that any such judgment, decree, order, settlement or compromise shall be binding upon the ParentSubsidiary Guarantors, notwithstanding any revocation hereof or the cancellation of any Note Note, or other instrument evidencing any liability of any other Credit Party Party, and each of the Parent Subsidiary Guarantors shall be and remain liable to the aforesaid payees hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee.

Judgments Binding. If claim is ever made upon any of the ----------------- Banks, the Issuing Bank, any of the Banks, any of the Agents, any subsequent holder of a Note or issuer of, or participant in, any Letter of Credit for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property or (b) any settlement or compromise of any such claim effected by such payee with any such claimant (including the Borrower) then and in such event each of the Parent Subsidiary Guarantors agrees that any such judgment, decree, order, settlement or compromise shall be binding upon the ParentSubsidiary Guarantors, notwithstanding any revocation hereof or the cancellation of any Note Note, or other instrument evidencing any liability of any other Credit Party Party, and each of the Parent Subsidiary Guarantors shall be and remain liable to the aforesaid payees hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee.

Judgments Binding. If claim is ever made upon the Issuing ----------------- Bank, any of the Banks, any of the Agents, any subsequent holder of a Note or issuer of, or participant in, any Letter of Credit for repayment or recovery of any amount or amounts received in payment or on account of any of the indebtedness and any of the aforesaid payees repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body having jurisdiction over such payee or any of its property or (b) any settlement or compromise of any such claim effected by such payee with any such claimant (including the Borrower) then and in such event the Parent agrees that any such judgment, decree, order, settlement or compromise shall be binding upon the Parent, notwithstanding any revocation hereof or the cancellation of any Note or other instrument evidencing any liability of any other Credit Party and the Parent shall be and remain liable to the aforesaid payees hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by any such payee.