Common use of Judgments; Penalties Clause in Contracts

Judgments; Penalties. One or more fines, penalties or final judgments, orders or decrees for the payment of money in an amount, individually or in the aggregate, of at least $250,000 shall be rendered against a Loan Party or any of its Subsidiaries by any Governmental Authority, and the same are not, within 10 days after the entry, assessment or issuance thereof, vacated, or after execution thereof, stayed or bonded pending appeal; provided, that no Loans will be made prior to the vacation, stay, or bonding of such fine, penalty, judgment, order or decree.

Judgments; Penalties. One or more fines, penalties or final judgments, orders or decrees for the payment of money in an amount, individually or in the aggregate, of at least Five Hundred Thousand Dollars ($250,000 500,000) shall be rendered against a Loan Party or any of its Subsidiaries by any Governmental Authority, and the same are not, within 10 ten days after the entry, assessment or issuance thereof, vacated, or after execution thereof, stayed or bonded pending appeal; provided, provided that no Loans will be made prior to the vacation, stay, or bonding of such fine, penalty, judgment, order or decree, provided further that the entry of a confession of judgement against any Loan Party with respect to a judgement in excess of $500,000 shall constitute an immediate Event of Default.

Judgments; Penalties. One or more fines, penalties or final judgments, orders or decrees for the payment of money in an amount, individually or in the aggregate, of at least $250,000 shall be rendered against a Loan Party or any of its Subsidiaries by any Governmental Authority, and the same are not, within 10 ten (10) days after the entry, assessment or issuance thereof, vacated, or after execution thereof, stayed or bonded pending appeal; provided, (provided that no Loans will be made prior to the vacation, stay, or bonding of such fine, penalty, judgment, order or decree).