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 Two Hundred Fifty Thousand Dollars ($250,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against Borrower or any of its Subsidiaries by any Governmental Authority, and the same are not, within ten (10) days after the entry, assessment or issuance thereof, discharged, satisfied or paid or after execution thereof, or stayed or bonded pending appeal, or such judgments are not discharged prior to the satisfaction, payment, expiration of any such stay (provided that no Credit Extensions will be made prior to the discharge, or stay, or bonding, of such fine, penalty, judgment, order or decree);

Appears in 1 contract

Samples: Loan and Security Agreement (908 Devices Inc.)

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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 Two One Hundred Fifty Thousand Dollars ($250,000150,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against Borrower or any of its Subsidiaries by any Governmental Authority, and the same are not, within ten (10) days after the entry, assessment or issuance thereof, discharged, satisfied satisfied, or paid paid, or after execution thereof, or stayed or bonded pending appeal, or such judgments are not discharged prior to the satisfaction, payment, expiration of any such stay (provided that Lenders shall have no obligation to make any Credit Extensions will be made prior to the satisfaction, payment, discharge, or stay, or bonding, bonding of such fine, penalty, judgment, order or decree);

Appears in 1 contract

Samples: Loan and Security Agreement (Transgenomic Inc)

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 Two Hundred Fifty one hundred Thousand Dollars ($250,000100,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against Borrower or any of its Subsidiaries by any Governmental Authority, any securities exchange or any self-regulatory organization, and the same are not, within ten twenty (1020) days after the entry, assessment or issuance thereof, discharged, satisfied satisfied, or paid paid, or after execution thereof, or stayed or bonded pending appeal, or such judgments are not discharged prior to the satisfaction, payment, expiration of any such stay (provided that no Credit Extensions will be made prior to the satisfaction, payment, discharge, or stay, or bonding, bonding of such fine, penalty, judgment, order or decree);

Appears in 1 contract

Samples: Loan and Security Agreement (Augmedix, Inc.)

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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 Two Hundred Fifty Thousand Dollars $250,000.00 ($250,000) (to the extent not covered by independent third-party insurance as to which liability the insurer has been accepted by notified of such insurance carrierjudgment or order and has not denied or failed to acknowledge coverage) shall be rendered against Borrower any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same are not, within ten (10) 10 days after the entry, assessment or issuance thereof, discharged, satisfied satisfied, or paid paid, or after execution thereof, or stayed or bonded pending appeal, or such judgments are not discharged prior to the satisfaction, payment, expiration of any such stay (provided that no Credit Extensions Loans will be made prior to the satisfaction, payment, discharge, or stay, or bonding, bonding of such fine, penalty, judgment, order or decree);.

Appears in 1 contract

Samples: Loan Agreement (Superior Drilling Products, Inc.)

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