Confession of Judgment definition
Confession of Judgment means the confession of judgment executed by the Borrower in favor of the Lender, which shall be substantially in the form of Exhibit B.
Confession of Judgment means that certain confession of judgment executed by the Company in the form attached hereto as Exhibit F.
Confession of Judgment. The Guarantor hereby appoints ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ and ▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇., as its attorneys-in-fact, either of whom shall have the power to confess judgment against the Guarantor in favor of the Lender in the Clerk's Office of the Circuit Court of the City of Norfolk, Virginia, or in any other court of proper jurisdiction for the unpaid balance of the guaranteed amounts plus cost, expenses and attorney's fees as specified herein, upon the occurrence of a default. Guarantor acknowledges that Guarantor has read this Guaranty, has consulted with counsel to the extent Guarantor deemed advisable, understands this Guaranty and desires to be bound by it. Dated: _______________, 1996 Corporate Guaranty By:_____________________________ Witness: ______________________ Secretary Print Name _________________________ Its:________________________________ EXHIBIT 9.0(G) General Electric Capital Corporation ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, Suite 300 Barrington, IL 60010 Attn: Manager, Asset Based Lending Gentlemen: We have acted as counsel for ________________________, a ____________ corporation ("Borrower") in connection with the proposed loan to Borrower by General Electric Capital Corporation ("GECC") pursuant to that certain Loan and Security Agreement dated _________________, 1996, by and between Borrower and GECC (the "Agreement"). In connection therewith, we have been asked to deliver certain opinions to you. All capitalized terms not otherwise defined herein shall have the meaning specified in the Agreement. We have examined such documents, records and matters of law as we have deemed necessary for purposes of this opinion. We have assumed and relied upon the authenticity of all document submitted to us as originals, the genuineness of all signatures, the legal capacity of natural persons, and, except as to the execution of the Agreement on behalf of Borrower, the due authority of all persons executing the same and the due execution and delivery of all documents where due execution and delivery are prerequisites to the effectiveness thereof. As to various questions of fact material to our opinion, we have relied solely upon statements or certificates of officers and representatives of Borrower and others, none of which we believe to be incorrect. Where an opinion is qualified by reference to our knowledge or belief, we render an opinion limited in scope to matters actually or believed by us and have not independently investigated such matters other than as described in this letter. B...
Examples of Confession of Judgment in a sentence
The Buyer shall have received an officer’s certificate described in Section 3(d) above, dated as of the Closing Date; and the Confession of Judgment fully executed with notary.
Tenant specifically acknowledges and agrees that Article 18 of the Lease as amended by Article 9 of the First Amendment to Lease concerning Confession of Judgment is and shall remain in full force and effect in accordance with its terms.
In addition to, and not in limitation of, the Holder’s other remedies under applicable law, including as provided herein, upon an Event of Default, the Holder shall file with the appropriate court of law the Affidavit of Confession of Judgment executed by the Company in connection with issuance of the Note, in the form attached as Exhibit A hereto.
This section and provision of the Agreement will not apply to the Confession of Judgment.
Tenant specifically acknowledges and agrees that Article 18 of the Lease concerning Confession of Judgment is and shall remain in full force and effect in accordance with its terms.
More Definitions of Confession of Judgment
Confession of Judgment. This Note is the “Amended Note” referred to in that certain Affidavit of Confession of Judgment (“Confession of Judgment”) of even date herewith executed by a duly authorized officer of Parent, and Nightlife is entitled to all of the rights and benefits contained therein. Costs of Collection: In the event that Nightlife seeks to enforce the Confession of Judgment and/or institutes legal proceedings to enforce this Note or refers the same to an attorney-at-law for enforcement or collection after default or maturity, Parent agrees to pay to Nightlife, in addition to any indebtedness due and unpaid, all reasonable costs and expenses of such proceedings, including reasonable attorneys’ fees. Remedies Cumulative: All remedies conferred upon Nightlife by this Note or any other instrument or agreement connected herewith or related hereto shall be cumulative and none is exclusive, and such remedies may be exercised concurrently or consecutively at Nightlife’s option.
Confession of Judgment. This Note is the “Amended Note” referred to in that certain Affidavit of Confession of Judgment (“Confession of Judgment”) of even date herewith executed by a duly authorized officer of Parent, and Nightlife is entitled to all of the rights and benefits contained therein.
Confession of Judgment means a confession of judgment in the total amount of $5,000.000.00 against Defendants. A proposed version of the Confession of Judgment shall be submitted to the Court in the form attached hereto as Exhibit A.
Confession of Judgment means the confession of judgment executed by the Credit Parties in favor of the Lender, the form of which is attached hereto as Exhibit A. (o) “Contingent Liability” and “Contingent Liabilities” shall mean, respectively, each obligation and liability of any Credit Party and all such obligations and liabilities of such Credit Party incurred pursuant to any agreement, undertaking or arrangement by which such Credit Party, either: (i) guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any other Person in any manner (other than by endorsement of instruments in the course of collection), including without limitation, any indebtedness, dividend or other obligation which may be issued or incurred at some future time; (ii) guarantees the payment of dividends or other distributions upon the shares or ownership interest of any other Person; (iii) undertakes or agrees (whether contingently or otherwise): (A) to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any other Person or any property or assets constituting security therefor; (B) to advance or provide funds for the payment or discharge of any indebtedness, obligation or liability of any other Person (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, working capital or other financial condition of any other Person; or (C) to make payment to any other Person other than for value received; (iv) agree to lease property or to purchase securities, property or services from such other Person with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability of such other Person to make payment of the indebtedness or obligation; (v) to induce the issuance of, or in connection with the issuance of, any letter of credit for the benefit of such other Person; or (vi) undertake or agree otherwise to assure a creditor against loss. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supporte...
Confession of Judgment. THE FOLLOWING SETS FORTH A WARRANT OF AUTHORITY FOR ANY ATTORNEY TO CONFESS JUDGMENT AGAINST BORROWER SUBJECT TO THE LIMITATIONS OF SECTION 10(B) OF THE CREDIT AGREEMENT. IN GRANTING THIS WARRANT OF ATTORNEY TO CONFESS JUDGMENT AGAINST DEBTOR, DEBTOR, FOLLOWING CONSULTATION WITH (OR DECISION NOT TO CONSULT WITH) SEPARATE COUNSEL FOR DEBTOR, AND WITH KNOWLEDGE OF THE LEGAL EFFECT HEREOF, HEREBY WAIVES ANY AND ALL RIGHTS DEBTOR HAS, OR MAY HAVE, TO PRIOR NOTICE AND AN OPPORTUNITY FOR HEARING BEFORE ENTRY OF JUDGMENT UNDER THE CONSTITUTIONS AND LAWS OF THE UNITED STATES AND THE COMMONWEALTH OF PENNSYLVANIA. DEBTOR ACKNOWLEDGES THAT PURSUANT TO THIS WARRANT OF ATTORNEY, LENDER IS AUTHORIZED TO ENTER A JUDGMENT AGAINST DEBTOR WHICH WILL GIVE LENDER A LIEN AGAINST REAL PROPERTY AND WHICH MAY PERMIT LENDER TO, UTILIZING THE POWER OF STATE GOVERNMENT, SEIZE PERSONAL PROPERTY INCLUDING DEBTOR'S DEPOSIT ACCOUNTS. DEBTOR SPECIFICALLY ACKNOWLEDGES THAT LENDER HAS RELIED ON THIS WARRANT OF ATTORNEY IN GRANTING THE FINANCIAL ACCOMMODATIONS DESCRIBED HEREIN. DEBTOR HEREBY EMPOWERS ANY CLERK, OR ATTORNEY OF ANY COURT OF RECORD TO APPEAR FOR DEBTOR AFTER ANY EVENT OF DEFAULT, SUBJECT TO THE LIMITATIONS OF SECTION 10(B) OF THE CREDIT AGREEMENT, IN ANY AND ALL ACTIONS WHICH MAY BE BROUGHT HEREUNDER IN THE COMMONWEALTH OF PENNSYLVANIA OR ELSEWHERE AND CONFESS JUDGMENT AGAINST DEBTOR FOR ALL, OR ANY PART OF, THE OBLIGATIONS UNDER THIS AGREEMENT, INCLUDING, THE UNPAID PRINCIPAL BALANCE AND ACCRUED INTEREST HEREUNDER, TOGETHER WITH ALL REASONABLE COSTS AND EXPENSES INCURRED IN CONNECTION THEREWITH, INCLUDING BUT NOT LIMITED TO ATTORNEYS' FEES, AND FOR SUCH PURPOSE THE ORIGINAL OR ANY PHOTOCOPY OF THIS AGREEMENT AND AN AFFIDAVIT OF LENDER OR LENDER'S COUNSEL AVERRING TO THE EVENT OF DEFAULT SHALL BE A GOOD AND SUFFICIENT WARRANT OF ATTORNEY. SUCH AUTHORIZATION SHALL NOT BE EXHAUSTED BY ONE EXERCISE THEREOF, BUT JUDGMENT MAY BE CONFESSED AS AFORESAID FROM TIME TO TIME. DEBTOR HEREBY WAIVES ALL ERRORS AND RIGHTS OF APPEAL, AS WELL AS RIGHTS TO STAY OF EXECUTION AND EXEMPTION OF PROPERTY, IN ANY ACTION TO ENFORCE ITS LIABILITY HEREON. IN THE EVENT SECURED PARTY'S RECOVERY UPON SUCH CONFESSED JUDGMENT SHALL EXCEED THE AMOUNT OF OBLIGATIONS HEREUNDER, TOGETHER WITH SECURED PARTY'S REASONABLE AND ACTUALLY INCURRED COSTS AND EXPENSES, INCLUDING BUT NOT LIMITED TO ATTORNEYS' FEES, SECURED PARTY SHALL RETURN SUCH EXCESS AMOUNTS TO DEBTOR. If this Note is not dated when executed by Debtor,...
Confession of Judgment shall have the meaning set forth in Section 42 hereof.
Confession of Judgment refers to the Amended Confession of Judgment, which consists of, collectively, Amended Affidavit of Verified Confession of Judgment and Amended Stipulation to Final Judgment and Confessed Judgment