Express Covenants definition
Examples of Express Covenants in a sentence
If the Studios prevail against the H▇▇▇▇▇ Parties for violation of the Express Covenants, the Studios shall be entitled to only a temporary restraining order, preliminary injunction, or other equitable relief, and reasonable attorneys’ fees and costs, as set forth in Section 7.C. The Studios shall not be entitled to monetary damages.
Performance under the Note as well as the Express Covenants shall be secured by a first priority fully perfected lien on all of the Reorganized Debtor’s assets and all of the H▇▇▇▇▇ Parties’ equity in VidAngel (the “Compliance Lien”) as set forth in the Security Agreement to be executed in conjunction with this Agreement (“Security Agreement”).
Any proceeding under Section 7.B.2 by the Studios against the H▇▇▇▇▇ Parties for breach of the Express Covenants must be filed initially in the Bankruptcy Court.
Neither the expiration of the Security Agreement/Compliance Lien in accordance with Section 6.C.3, nor satisfaction of payment obligations of the Note in accordance with Section 6.B.2, shall relieve the Reorganized Debtor of its obligations to comply with the Express Covenants.
The Express Covenants become effective as of the Effective Date and claims alleging a breach of an Express Covenant are limited to conduct occurring on or after the Effective Date.
If a Studio gives notice of an Election to Terminate, that Studio and that Studios’ Affiliates permanently forego their right to bring an Enforcement Action to enforce the Express Covenants.
The H▇▇▇▇▇ Parties agree to be bound, in their individual capacity, by the Express Covenants in Section 2.
The Harmons Parties will consent and not object to the jurisdiction of the Bankruptcy Court for all purposes to enforce the Express Covenants against them and agree that the orders of the Bankruptcy Court are binding on and enforceable against them.
Notwithstanding the foregoing, after the Satisfaction of Note (Section 6.B.2) and Release of Compliance Lien (Section 6.C.3) have occurred, a Studio shall have the right to give written notice to the Reorganized Debtor of its election to terminate the Express Covenants (an “Election to Terminate”).
Any action filed by the Studios against the H▇▇▇▇▇ Parties for breach of the Express Covenants shall be an expedited proceeding, noticed with no more than ten (10) Business Days between the filing of the action and hearing, subject to the Bankruptcy Court’s availability.