Common use of Undischarged Judgments Clause in Contracts

Undischarged Judgments. Judgment for the payment of money in excess of $50,000.00 (which is not covered by insurance) is rendered by any court or other governmental body against the Borrower or any Subsidiary, and such Person does not discharge the same or provide for its discharge in accordance with its terms, or procure a stay of execution thereof within 30 days from the date of entry thereof, and within said 30-day period or such longer period during which execution of such judgment shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such appeal while providing such reserves therefor as may be required under generally accepted accounting principles.

Undischarged Judgments. Judgment for the payment of money in excess of $50,000.00 20,000 (which is not covered by insurance) is rendered by any court or other governmental body against the Borrower or any Subsidiaryother Appearer, and such Person the Appearer does not discharge the same or provide for its discharge in accordance with its terms, or procure a stay of execution thereof within 30 days from the date of entry thereof, and within said 30-day period or such longer period during which execution of such judgment shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such appeal while providing such reserves therefor as may be required under generally accepted accounting principles.

Undischarged Judgments. Judgment for the payment of money in excess of $50,000.00 1,000,000 (which is not covered by insurance) is rendered by any court or other governmental body against the Borrower or any SubsidiaryMortgagor, and such Person the Mortgagor does not discharge the same or provide for its discharge in accordance with its terms, or procure a stay of execution thereof within 30 days from the date of entry thereof, and within said 30-day period or such longer period during which execution of such judgment judgement shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such appeal while providing such reserves therefor as may be required under generally accepted accounting principles.

Undischarged Judgments. Judgment for the payment of money in excess of $50,000.00 1,000,000 (which is not covered by insurance) is rendered by any court or other governmental body against the Borrower or any SubsidiaryBorrower, and such Person the Borrower does not discharge the same or provide for its discharge in accordance with its terms, or procure a stay of execution thereof within 30 days from the date of entry thereof, and within said 30-day period or such longer period during which execution of such judgment shall have been stayed, appeal therefrom and cause the execution thereof to be stayed during such appeal while providing such reserves therefor as may be required under generally accepted accounting principles.