Money Judgments Clause Samples
The "Money Judgments" clause defines how monetary awards or judgments rendered by a court or arbitrator are to be handled between the parties. Typically, this clause outlines the procedures for payment, the timeframe within which the judgment must be satisfied, and may address the accrual of interest or additional costs if payment is delayed. Its core practical function is to ensure that any financial obligations resulting from a legal decision are clearly addressed, reducing uncertainty and facilitating prompt resolution of monetary disputes.
Money Judgments. An uninsured judgment for the payment of money in excess of $10,000.00 shall be entered against Borrower, or any Guarantor, or any attachment, execution or garnishment shall be issued or filed against any of the property of the Borrower, or any Guarantor and shall not be released or discharged within ten (10) days.
Money Judgments. The Borrower suffers a final judgment for payment of money which shall not be on appeal and does not discharge the same within a period of thirty (30) days.
Money Judgments. If Landlord shall be in default under this Lease and, if as a consequence of such default, Tenant shall have the right to recover a money judgment against Landlord, then such judgment shall be satisfied only out of the right, title, and interest of Landlord in the Project as the same may then be encumbered. If such judgment cannot be satisfied in full in such a manner, then Tenant may offset Rent until it has satisfied the full amount of such judgment. In no event shall Tenant have the right to levy execution against any property of Landlord other than its interest in the Project as hereinbefore expressly provided.
Money Judgments. Any judgment or final order for the payment of money, the payment or non-payment of which would have a material adverse effect on Borrower, shall be rendered against Borrower and (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order and (ii) there shall be a period of ten (10) consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal, continuance of such case or proceeding or otherwise, shall not be in effect, unless the validity thereof shall be continually contested in good faith, by appropriate proceedings diligently pursued. Borrower shall have set aside on its books adequate and properly designated reserves satisfactory to Lender with respect thereto;
Money Judgments. THE OBLIGATIONS CONTAINED IN THIS LEASE TO BE PERFORMED BY LANDLORD SHALL BE BINDING ON LANDLORD'S SUCCESSORS AND ASSIGNS, ONLY DURING THEIR RESPECTIVE PERIODS OF OWNERSHIP. NEITHER LANDLORD NOR ANY OF ITS MEMBERS, PARTNERS, PRINCIPALS, SHAREHOLDERS, TRUSTEES, BENEFICIARIES OR OTHER PARTY HAVING AN INTEREST IN LANDLORD SHALL BE UNDER ANY PERSONAL LIABILITY WITH RESPECT TO ANY OF THE PROVISIONS, COVENANTS OR AGREEMENTS OF THIS LEASE. IF LANDLORD BECOMES OBLIGATED TO PAY TENANT A MONEY JUDGMENT ARISING OUT OF ANY FAILURE BY LANDLORD TO PERFORM ANY OF ITS OBLIGATIONS UNDER THIS LEASE, TENANT SHALL BE LIMITED FOR THE SATISFACTION OF THE MONEY JUDGMENT SOLELY TO LANDLORD'S INTEREST IN THE PROPERTY AND ANY INSURANCE PROCEEDS OR SALE PROCEEDS RELATING THERETO, AND NO OTHER PROPERTY OR ASSETS OF LANDLORD SHALL BE SUBJECT TO LEVY, EXECUTION OR OTHER ENFORCEMENT PROCEDURE WHATSOEVER FOR THE SATISFACTION OF THE MONEY JUDGMENT.