Common use of Enforceability of Judgment Clause in Contracts

Enforceability of Judgment. The Company agrees that any final judgment against the Company for a fixed or readily calculable sum of money rendered by a New York Court having jurisdiction under its own domestic laws in respect of any suit, action or proceeding against the Company based upon this Agreement or any transaction contemplated herein and therein would be recognized and enforced, without re-examination or review of the merits of the underlying dispute by the courts of the British Virgin Islands or Hong Kong, or the cause of action in respect of which the original judgment was given or re-litigation of the matters adjudicated upon, by an action commenced on the foreign judgment debt in the Court of the British Virgin Islands or the courts of Hong Kong, provided that (i) with respect to courts of the British Virgin Islands or the courts of Hong Kong (a) such New York Court had proper jurisdiction over the parties subject to such judgment; (b) such judgment was not obtained in a manner and is not of a kind the enforcement of which is contrary to natural justice or the public policy of the British Virgin Islands or the courts of Hong Kong; (c) such judgment was not obtained by fraud; (d) such judgment is not in respect of taxes, a fine or a penalty; (e) such judgement is final, no new admissible evidence relevant to the action is submitted prior to the rendering of the judgment by the courts of the British Virgin Islands or the courts of Hong Kong; and (f) there is due compliance with the correct procedures under the laws of the British Virgin Islands or the courts of Hong Kong. The Company is not aware of any reason why the enforcement in the British Virgin Islands or the courts of Hong Kong of such a New York Court judgment would be, as of the date hereof, contrary to natural justice of the public policy of the British Virgin Islands or the courts of Hong Kong.