Common use of Judgments or Liens Clause in Contracts

Judgments or Liens. One or more judgments or decrees shall be entered against the Borrower, GCC, Global or any of its subsidiaries involving in the aggregate for them a liability of the equivalent of US$500,000 or more, and all such judgments or decrees shall not have been vacated, discharged or stayed or bounded pending appeal within 30 days after the entry thereof or a Lien is imposed on the assets or properties of the Borrower in an amount of in excess, together with other Liens, of US$500,000 exclusive of Liens to equipment vendors in the ordinary course of business.

Judgments or Liens. One or more judgments or decrees shall be entered against the Borrower, GCC, Global Borrower or the Guarantor or any of its subsidiaries involving in the aggregate for them a liability of the equivalent of US$$500,000 or more, and all such judgments or decrees shall not have been vacated, discharged or stayed or bounded pending appeal within 30 days after the entry thereof or a Lien is imposed on the assets or properties of the Borrower in an amount of in excess, together with other Liens, of US$$500,000 exclusive of Liens to equipment vendors in the ordinary course of business.