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 Two Hundred Fifty Thousand Dollars ($250,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of ten (10) 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 Two Hundred Fifty Thousand Dollars ($250,000); and

Judgments; Settlements. If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Two Five Hundred Fifty Thousand Dollars ($250,000500,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of ten thirty (1030) 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 Two Five Hundred Fifty Thousand Dollars ($250,000500,000); and” 46. Section 9.2 of the Agreement hereby is amended and restated in its entirety to read as follows: