Common use of Judgments; Settlements Clause in Contracts

Judgments; Settlements. If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of thirty (30) days (provided that no Credit Extensions will be made prior to the satisfaction or stay of the judgment); or if a settlement or settlements, except to the extent the settled claim(s) is covered by and will be paid by insurance within thirty (30) days of the effective date of the settlement, is agreed upon for an amount individually or in the aggregate of at least Five Hundred Thousand Dollars ($500,000); and”

Judgments; Settlements. If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Five Two Hundred Fifty Thousand Dollars ($500,000250,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of thirty ten (3010) days (provided that no Credit Extensions will be made prior to the satisfaction or stay of the judgment); or if a settlement or settlements, except to the extent the settled claim(s) is covered by and will be paid by insurance within thirty (30) days of the effective date of the settlement, is agreed upon for an amount individually or in the aggregate of at least Five Two Hundred Fifty Thousand Dollars ($500,000250,000); and”

Judgments; Settlements. If a final, non-appealable judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Five One Hundred Fifty Thousand Dollars ($500,000150,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of thirty twenty (3020) days (provided that no Credit Extensions will be made prior to the satisfaction or stay of the judgment); or if a settlement or settlements, except to the extent the settled claim(s) is covered by and will be paid by insurance within thirty (30) days of the effective date of the settlement, settlements is agreed upon for an amount individually or in the aggregate of at least Five One Hundred Fifty Thousand Dollars ($500,000); and”150,000) for which Borrower is required to pay.