Common use of Final Judgments Clause in Contracts

Final Judgments. There is entered against the Borrower or any Loan Party (i) a final judgment, decree or order for the payment of money that (x) individually or taken together with any other such final judgments, decrees and/or orders exceeds the Threshold Amount and (y) is not fully covered by insurance as to which a solvent insurance company that is not an Affiliate of the Borrower has not denied coverage or (ii) any one or more nonmonetary final judgments, decrees or orders that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced upon such final judgment, decree or order or (B) such final judgment, order or decree shall not have been vacated, discharged or unstayed within 45 days from entry; or