Common use of Payment of Judgments Clause in Contracts

Payment of Judgments. One or more judgments for the payment of money in an aggregate amount in excess of $50,000,000 (or the Dollar Equivalent Value thereof) shall be rendered against EDS, any EDS Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of EDS or any EDS Subsidiary to enforce any such judgment.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Electronic Data Systems Corp /De/), Multi Currency Revolving Credit Agreement (Electronic Data Systems Corp /De/), Amendment and Restatement Agreement (Electronic Data Systems Corp /De/)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!