Payment of Judgments. Any Company fails to pay any judgments or orders for the payment of money in excess of 1 percent of Consolidated Net Worth (individually or collectively) rendered against it or any of its assets and either (a) any enforcement proceedings shall have been commenced by any creditor upon any such judgment or order or (b) a stay of enforcement of any such judgment or order, by reason of pending appeal or otherwise, shall not be in effect prior to the time its assets may be lawfully sold to satisfy such judgment.
Appears in 10 contracts
Samples: Credit Agreement (Centurytel Inc), Credit Agreement (Centurytel Inc), Agreement (Century Telephone Enterprises Inc)
Payment of Judgments. Any Company fails to pay any judgments or orders for the payment of money in excess of 1 percent the greater of $250,000,000 or 1% of Consolidated Net Worth (individually or collectively) rendered against it or any of its assets and either (a) any enforcement proceedings shall have been commenced by any creditor upon any such judgment or order or (b) a stay of enforcement of any such judgment or order, by reason of pending appeal or otherwise, shall not be in effect prior to the time its assets may be lawfully sold to satisfy such judgment.
Appears in 8 contracts
Samples: Credit Agreement (Qwest Corp), Credit Agreement (Lumen Technologies, Inc.), Credit Agreement (Qwest Corp)
Payment of Judgments. Any Company fails to pay any judgments or orders for the payment of money in excess of 1 percent the greater of $250,00,000 or 1% of Consolidated Net Worth (individually or collectively) rendered against it or any of its assets and either (a) any enforcement proceedings shall have been commenced by any creditor upon any such judgment or order or (b) a stay of enforcement of any such judgment or order, by reason of pending appeal or otherwise, shall not be in effect prior to the time its assets may be lawfully sold to satisfy such judgment.
Appears in 2 contracts
Samples: Credit Agreement (Centurylink, Inc), Credit Agreement (Centurylink, Inc)
Payment of Judgments. Any Company fails to pay any judgments or orders for the payment of money in excess of 1 percent 1% of Consolidated Net Worth (individually or collectively) rendered against it or any of its assets and either (a) any enforcement proceedings shall have been commenced by any creditor upon any such judgment or order or (b) a stay of enforcement of any such judgment or order, by reason of pending appeal or otherwise, shall not be in effect prior to the time its assets may be lawfully sold to satisfy such judgment.
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