Judgment Event definition
Judgment Event means any judgment or order rendered against any Borrower for the payment of money in excess of $250,000,000 (and not adequately covered by insurance as to which a solvent and unaffiliated insurance company has provided coverage and has acknowledged liability) shall remain undischarged, unvacated, unbonded or unstayed for a period of 60 days.
Judgment Event means one or more final judgments or decrees are entered in the United States against the Issuer or any Significant Guarantor (as defined in the Credit Agreement), which are not within 30 days vacated, discharged, or satisfied, or the execution of which is not stayed or bonded pending appeal or post-trial motions and involves a liability (not paid or above amounts fully covered by insurance and as to which the relevant insurance company has not denied coverage) of either (a) $100,000,000 or more, in the case of any single judgment or (b) $200,000,000 or more in the aggregate.
Examples of Judgment Event in a sentence
Any dispute, controversy or claim arising out of or relating to this Agreement or the breach, termination or validity thereof, but not including any claim based on the occurrence of a Confession of Judgment Event, (“Dispute”) shall be subject to the dispute resolution procedures specified in this Article 7.