Common use of Judgments; Settlements Clause in Contracts

Judgments; Settlements. If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period often (10) days (provided that no Credit Extensions will be made prior to the satisfaction or stay of the judgment); or if a settlement or settlements is agreed upon for an amount individually or in the aggregate of at least Five Hundred Thousand Dollars ($500,000) except for settlements that are covered by insurance with a reputable carrier as to which the relevant insurance company has acknowledged full coverage.

Judgments; Settlements. If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000) 500,000 shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period often of ten (10) days (provided that no Credit Extensions will be made prior to the satisfaction or stay of the judgment); or if a settlement or settlements is agreed upon for an amount individually or in the aggregate of at least Five Hundred Thousand Dollars ($500,000) 500,000 except for settlements that are covered by insurance with a reputable carrier as to which the relevant insurance company has acknowledged full coverage.