Confessed Judgment. UPON THE OCCURRENCE OF AN EVENT OF DEFAULT, EACH BORROWER HEREBY AUTHORIZES ANY ATTORNEY DESIGNATED BY THE LENDER OR ANY CLERK OF ANY COURT OF RECORD TO APPEAR FOR SUCH BORROWER IN ANY COURT OF RECORD AND CONFESS JUDGMENT WITHOUT PRIOR HEARING AGAINST THE BORROWER IN FAVOR OF THE LENDER FOR AND IN THE AMOUNT OF THE UNPAID PRINCIPAL SUM, ALL INTEREST ACCRUED AND UNPAID THEREON, ALL OTHER AMOUNTS PAYABLE BY THE BORROWER TO THE LENDER UNDER THE TERMS OF THIS NOTE OR ANY OF THE OTHER FINANCING DOCUMENTS, COSTS OF SUIT, AND ATTORNEYS’ FEES OF FIFTEEN PERCENT (15%) OF THE UNPAID PRINCIPAL SUM AND INTEREST THEN DUE HEREUNDER. BY ITS ACCEPTANCE OF THIS NOTE, THE LENDER AGREES THAT IN THE EVENT THE LENDER EXERCISES AT ANY TIME ITS RIGHT TO CONFESS JUDGMENT UNDER THIS NOTE, THE LENDER SHALL USE ITS BEST EFFORTS TO OBTAIN LEGAL COUNSEL WHO WILL CHARGE THE LENDER FOR ITS SERVICES ON AN HOURLY BASIS, AT ITS CUSTOMARY HOURLY RATES AND ONLY FOR THE TIME AND REASONABLE EXPENSES INCURRED. IN NO EVENT SHALL THE LENDER ENFORCE THE LEGAL FEES PORTION OF A CONFESSED JUDGMENT AWARD FOR AN AMOUNT IN EXCESS OF THE FEES AND EXPENSES ACTUALLY CHARGED TO THE LENDER FOR SERVICES RENDERED BY ITS COUNSEL IN CONNECTION WITH SUCH CONFESSION OF JUDGMENT AND/OR THE COLLECTION OF SUMS OWED TO THE LENDER. IN THE EVENT THE LENDER RECEIVES, THROUGH EXECUTION UPON A CONFESSED JUDGMENT, PAYMENTS ON ACCOUNT OF ATTORNEYS’ FEES IN EXCESS OF SUCH ACTUAL ATTORNEYS’ FEES AND EXPENSES INCURRED BY THE LENDER, THEN, AFTER FULL REPAYMENT AND SATISFACTION OF ALL OF THE OBLIGATIONS UNDER AND IN CONNECTION WITH THIS NOTE, THE LOAN AGREEMENT AND ALL OF THE OTHER LOAN DOCUMENTS, THE LENDER SHALL REFUND SUCH EXCESS AMOUNT TO THE BORROWERS. EACH BORROWER HEREBY RELEASES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ALL ERRORS AND ALL RIGHTS OF EXEMPTION, APPEAL, STAY OF EXECUTION, INQUISITION, AND OTHER RIGHTS TO WHICH SUCH BORROWER MAY OTHERWISE BE ENTITLED UNDER THE LAWS OF THE UNITED STATES OF AMERICA OR OF ANY STATE OR POSSESSION OF THE UNITED STATES OF AMERICA NOW IN FORCE AND WHICH MAY HEREAFTER BE ENACTED. THE AUTHORITY AND POWER TO APPEAR FOR AND ENTER JUDGMENT AGAINST ANY BORROWER SHALL NOT BE EXHAUSTED BY ONE OR MORE EXERCISES THEREOF OR BY ANY IMPERFECT EXERCISE THEREOF AND SHALL NOT BE EXTINGUISHED BY ANY JUDGMENT ENTERED PURSUANT THERETO. SUCH AUTHORITY MAY BE EXERCISED ON ONE OR MORE OCCASIONS OR FROM TIME TO TIME IN THE SAME OR DIFFERENT JURISDICTIONS AS OFTEN AS THE LENDER SHALL DEEM NECESSARY OR D...
Confessed Judgment. Upon the occurrence of a default in the payment of the whole or any part of the debt evidenced hereby beyond any applicable notice and cure period, or if an Event of Default (as defined in the Deed of Trust) be made in the performance of any of the terms, agreements, covenants, or conditions contained herein or contained in the Additional Guaranty, the Deed of Trust or in any Loan Document, Borrower authorizes and empowers any attorney or any clerk of any court of record in the United States of America to appear on behalf of Borrower in any court having jurisdiction, in one or more proceedings, or before any clerk thereof or other court official, and TO CONFESS JUDGMENT AGAINST BORROWER, WITHOUT PRIOR NOTICE OR OPPORTUNITY OF BORROWER FOR PRIOR HEARING, in favor of Lender or the Holder for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts due and payable by Borrower to Lender or the Holder under the terms of this Note, court costs, expenses, and attorneys’ fees of five percent (5%) of the total amount then due hereunder. Notwithstanding the Lender’s right to the attorneys’ fees described above in connection with any confession of judgment proceeding, the Lender may only collect such actual reasonable attorneys’ fees and expenses that are incurred by its counsel in connection therewith, and upon payment of the amount of the judgment, including such actual reasonable attorneys’ fees and expenses, the judgment shall be considered satisfied. Borrower waives and releases, to the extent permitted by applicable law, the benefit of any and every statute, ordinance, rule of court and all errors and all rights of exemption, appeal, stay of execution, inquisition, other relief from the enforcement or immediate enforcement of a judgment or related proceedings on a judgment, and other rights to which Borrower may otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force or which may hereafter be enacted. The authority and power to appear for and enter judgment against Borrower shall not be exhausted by one or more exercises thereof, or by any imperfect exercise thereof, and shall not be extinguished by any judgment entered pursuant thereto. Such authority and power may be exercised on one or more occasions, from time to time, in the same or different jurisdictions as often as Lender or the Holder shall deem necessary or advisable...
Confessed Judgment. Upon the occurrence of an Event of Default hereunder, the Payor hereby authorizes any attorney designated by the Payee or any clerk of any court of record to appear for the Payor in any court of record and confess judgment against the Payor, without prior hearing, in favor of the Payee for, and in an amount equal to, the full amount then due and payable by the Payor hereunder, all other amounts then due and payable by the Payor to the Payee under the provisions of this Note, costs of suit and attorneys' fees of 15% of the amount of such obligations. In connection therewith, the Payor hereby releases, to the extent permitted by applicable laws, all errors and all rights of exemption, appeal, stay of execution, inquisition, and other rights to which the Payor may otherwise be entitled under the applicable laws now in force and which may hereafter be enacted, including, without limitation, those of the United States of America. The authority and power to appear for and enter judgment against the Payor shall not be exhausted by one or more exercises thereof or by any imperfect exercise thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority may be exercised on one or more occasions or from time to time in the same or different jurisdictions as often as the Payee shall deem necessary and desirable, for all of which this Note shall be sufficient warrant.
Confessed Judgment. Upon the occurrence of an Event of Default, each of the Borrowers hereby authorizes any attorney designated by the Lender or any clerk of any court of record to appear for the Borrowers in any court of record and confess judgment without prior hearing against each of the Borrowers in favor of the Lender for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts payable by the Borrowers to the Lender under the terms of this Note or any of the other Financing Documents, costs of suit, and attorneys' fees of fifteen percent (15%) of the unpaid Principal Sum and interest then due hereunder. Each of the Borrowers hereby releases, to the extent permitted by applicable law, all errors and all rights of exemption, appeal, stay of execution, inquisition, and other rights to which the Borrowers, or either of them, may 35 5 otherwise be entitled under the laws of the United States of America or of any state or possession of the United States of America now in force and which may hereafter be enacted. The authority and power to appear for and enter judgment against the Borrowers shall not be exhausted by one or more exercises thereof or by any imperfect exercise thereof and shall not be extinguished by any judgment entered pursuant thereto. Such authority may be exercised on one or more occasions or from time to time in the same or different jurisdictions as often as the Lender shall deem necessary or desirable, for all of which this Note shall be a sufficient warrant.
Confessed Judgment. Upon the occurrence of an Event of Default, each Borrower hereby authorizes any attorney designated by the Lender or any clerk of any court of record to appear for the Borrowers in any court of record and confess judgment without prior hearing against the Borrowers in favor of the Lender for and in the amount of the unpaid Principal Sum, all interest accrued and unpaid thereon, all other amounts payable by any Borrower to the Lender under the terms of this Note or any of the other Financing Documents, costs of suit, and attorneys' fees of fifteen percent (15%) of the unpaid Principal Sum and interest then due
Confessed Judgment. (a) The Borrower hereby appoints and designates Charxxx X. Xxxlish, Jr. Esquire, as its duly constituted attorney-in-fact to confess judgment against the Borrower pursuant to the provisions hereof and of Section 8.01-432 of the Code of Virginia of 1950, as amended, which judgment shall be confessed in the Clerk's Office of the Circuit Court of Fairfax County, Virginia. The Borrower shall, upon the Lender's request, name such additional or alternative persons designated by the Lender as the Borrower's duly constituted attorney or attorneys-in-fact to confess judgment against the Borrower in accordance with the terms hereof. Furthermore, upon the Lender's request, the Borrower shall agree to the designation of any additional circuit courts in the Commonwealth of Virginia in which judgment may be confessed against the Borrower.
Confessed Judgment a. If the Omimex Group defaults in paying the full amount of the Assumed Tax Liability Judgment Amount (as defined below) at any time after (i) DIAN obtains a nonappealable judgment by any competent Colombian court of law that Sabacol is liable for any portion of the Assumed Tax Liability and interest and penalties that accrue thereon after the Closing (the "Assumed Tax Liability Judgment Amount") and (ii) Sabacol provides the Omimex Group with 30 days prior written notice of such judgment, the Omimex Group authorizes any attorney designated by Sabacol to appear for the Omimex Group in any court of record and confess judgment in favor of Sabacol or its successor for and in the amount of the Assumed Tax Liability Judgment Amount, costs of suit and reasonable attorney fees, less any amounts that the Omimex Group has paid towards or to reduce the Assumed Tax Liability (the "Confessed Judgment A"). Sabacol shall pay to DIAN any amount that the Omimex Group pays to Sabacol under the Confessed Judgment A until the Assumed Tax Liability is fully satisfied and paid. All liability and obligations of the Omimex Group to pay, assume or otherwise be responsible for the Assumed Tax Liability shall cease, terminate and have no further force or effect to the extent of the amount of any payment that the Omimex Group pays to Sabacol under the Confessed Judgment A that is attributable to the Assumed Tax Liability.
Confessed Judgment. If the Debt or any portion thereof is not paid when due, or any other Event of Default shall occur hereunder, and such default continues for a period of ten (10) calendar days after written notice from Lender, then the Borrower hereby authorizes any clerk of any court of record, or any attorney, to enter in any court of competent jurisdiction in the State of Maryland, judgment by confession against the Borrower and in favor of the Lender for the Debt then due and remaining unpaid, together with reasonable attorneys’ fees, plus court costs, expressly waiving the benefit of all exemption laws and all irregularity or error in entering said judgment or the execution thereon. No single exercise of the foregoing power to confess judgment shall be deemed to exhaust the power, whether or not any such exercise shall be held by any court to be invalid, voidable or void, but the power shall continue undiminished, and it may be exercised from time to time as often as the Lender or any holder of this Note deems necessary, until all amounts payable hereunder are repaid in full.
Confessed Judgment. Defendant Signing Day Sports, Inc., a Delaware corporation (“Defendant”) pursuant to the Verified Confession Judgment and Stipulation to Final Judgment hereby confesses judgment in favor of Plaintiff Midwestern Interactive, LLC (“Plaintiff”) and against Defendant, in the amount of Six Hundred Thousand and 00/100 Dollars ($600,000.00), less any payments made by Defendant pursuant to the Settlement Agreement. SIGNING DAY SPORTS, INC., a Delaware corporation, By: Xxxxxx X. Xxxxxx Its: CEO Date: Accordingly, this Court hereby enters judgment in favor of Plaintiff Midwestern Interactive, LLC, and against Defendant Signing Day Sports, Inc., in the amount of Defendant, in the amount of _________________________________ and 00/100 Dollars ($______________), plus interest at the rate of 9% per annum until all amounts awarded herein have been paid. Execution on this Judgment may enter without further order of this Court. Date Hon.
Confessed Judgment. If an Event of Default shall occur hereunder or under the Loan Agreement, the Borrower hereby authorizes any clerk of any court of record or any attorney to enter in any court of competent jurisdiction in the State of Maryland or any other state or territory of the United States judgment by confession against the Borrower in favor of the holder of this Note for the entire principal amount of this Note then remaining unpaid with interest thereon, together with attorneys' fees equal to fifteen percent (15%) of the unpaid Principal Sum for each confession of judgment and court costs, hereby waiving and releasing, to the extent permitted by law, all errors and defenses and all rights of exemption, appeal, stay of execution, inquisition and extension upon any levy on real estate or personal property to which each such obligor may otherwise be entitled under the laws of the United States or of any state or possession of the United States now in force or which may hereafter be passed. No single exercise of the foregoing power to confess judgment shall be deemed to exhaust the power, whether or not any such exercise shall be held by any court to be invalid, voidable or void, but the power shall continue undiminished, and it may be exercised from time to time as often as the holder of this Note shall elect, until such time as the holder of this Note shall have received payment in full of all indebtedness of the Borrower to the holder of this Note.
