Adverse Judgment definition
Examples of Adverse Judgment in a sentence
During any such pending litigation with respect to the Existing Development Approvals, ▇▇▇▇▇▇▇▇▇’s obligation to pay the cost of the action, including judgment, shall extend until a Final Adverse Judgment or successful final termination of the Claims or Litigation is obtained.
In the event that there is an Adverse Judgment against the Defaulting Party, then prejudgment interest shall be awarded to the Non-Defaulting Party.
The Party against which an Adverse Judgment is entered shall pay all costs of the arbitration including the attorneys fees of the other Party.
During the Lease Term, if any Material Adverse Judgment is made or entered against Tenant, Tenant shall promptly notify Landlord of such Material Adverse Judgment in writing with reasonably sufficient detail.
If the decision of the arbitration tribunal is an Adverse Judgment, then the Defaulting Party shall have thirty (30) days to cure such breach in accordance with the arbitration tribunal's decision or as otherwise agreed by the Parties.
If the decision of the arbitration panel is an Adverse Judgment, then Defaulting Party shall have thirty (30) days to substantially cure such breach in accordance with the arbitration panel's decision.
If the parties submit the Dispute Regarding Breach to an arbitration panel as set forth in Section 8.11(b) and the decision of such arbitration panel is that the Defaulting Party is in material breach of this Agreement (an "Adverse Judgment"), then such arbitration panel shall specify the manner in which such breach could be cured.
Prior to either Party exercising any termination right in (b) or (c) above, unless a Party is prohibited from doing so by an Adverse Judgment the Parties shall cooperate in good faith, through the Joint Review Board and more senior executives as required, for at least sixty (60) days to agree upon and implement a reasonable workaround that would cure the actual or potential compliance concern or violation of Applicable Law (either Party may extend that period by up to an additional sixty (60) days).
Prior to either Party exercising any termination right in (b) or (c) above, unless a Party is prohibited from doing so by an Adverse Judgment, the Parties shall cooperate in good faith for at least [**] days (the “Workaround Period”) to identify a reasonable workaround that would eliminate the material adverse effect and not result in a violation of the applicable Laws.
The Borrowers hereby acknowledge the existence of the following Defaults and Events of Defaults (the "Existing Defaults"): (a) any misrepresentation the Borrowers may have made under Section 4.9 of the Credit Agreement prior to the date hereof solely as a result of the existence of the Adverse Judgment; and (b) an Event of Default arising under Section 7.1(g) of the Credit Agreement as a result of the existence of the Adverse Judgment.