Judgments and Settlements Sample Clauses
The Judgments and Settlements clause defines how legal judgments or settlements related to the agreement are handled between the parties. Typically, it outlines the responsibilities for payment or compliance if a court issues a judgment or if the parties agree to settle a dispute, and may specify notification requirements or approval processes for settlements. This clause ensures that both parties understand their obligations in the event of legal action, thereby allocating risk and providing clarity on the financial and procedural consequences of disputes.
Judgments and Settlements. The Assigned Intellectual Property and, to Seller’s knowledge, the right of any third party licensor to the intellectual property licensed pursuant to the Inbound Technology Agreements, are not subject to any outstanding settlement agreement, order, ruling, decree, judgment, or stipulation preventing their use by Buyer after the Closing Date.
Judgments and Settlements. (i) There is entered against the US Borrower or any Subsidiary (A) one or more final judgments or orders for the payment of money in an aggregate amount (as to all such judgments or orders) exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer has been notified of the claim and does not dispute coverage), or (B) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (1) enforcement proceedings are commenced by any creditor upon such judgment or order, or (2) there is a period of 15 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect or (ii) the US Borrower or any Subsidiary enters into or becomes a party to any settlement or settlement agreement with respect to any action, suit, proceeding, claim or dispute against the US Borrower or any Subsidiary or against any of their properties or revenues that has, or could reasonably be expected to have a Material Adverse Effect; or
Judgments and Settlements. If, by the terms of: (i) a settlement of any claim against VisiJet or ▇▇▇▇▇▇▇, or (ii) a judgment, decree or decision of a court, tribunal or other authority of competent jurisdiction finding that the sale of any of the Products infringed a patent, or violated any other proprietary rights of any third party, and VisiJet is required to compensate or pay damages to such third party, ▇▇▇▇▇▇▇ will pay all such damages up to the amount paid by VisiJet to ▇▇▇▇▇▇▇ pursuant to this Agreement. In the event that VisiJet is unable to continue to sell the Product in any country in the Territory due to potential infringement of a third party's rights, ▇▇▇▇▇▇▇ will, at its sole option and expense: (a) replace or modify the infringing Product so that it becomes non-infringing as long as functionality is not materially and adversely affected; or (b) procure the right to continue manufacturing and selling the Products; or (c) if ▇▇▇▇▇▇▇ is unable to replace or modify the infringing Product or to procure the right to continue to manufacture and sell the Products on commercially reasonable terms, terminate the Agreement and return to VisiJet a prorated portion of the one million EURO payment required by Section 2.1 above based on the remaining Term of the Agreement at the time of such termination.
Judgments and Settlements. (i) There is entered against the US Borrower or any Subsidiary (A) a final judgment or order for the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage) or (B) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (1) enforcement proceedings are commenced by any creditor upon such judgment or order, or (2) there is a period of 15 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect or (ii) the US Borrower or any Subsidiary enters into or becomes a party to any settlement or settlement agreement with respect to any action, suit, proceeding, claim or dispute against the US Borrower or any Subsidiary or against any of their properties or revenues that has, or could reasonably be expected to have a Material Adverse Effect; or
Judgments and Settlements. Final judgments or orders for the payment of money are rendered against Borrower, Parent or any Guarantor or Borrower, Parent or any Guarantor settles any claim or lawsuit in the aggregate amount of Fifty Thousand Dollars ($50,000) or more (exclusive of amounts covered by insurance) which are not paid in full within ten (10) Business Days.
Judgments and Settlements. Except as provided in Schedule 3.26, the IT Property or IP Rights of the Sellers or the Acquired Subsidiaries or, to Seller's knowledge, the right of any third party licensor to the intellectual property licensed pursuant to the Inbound Technology Agreements, are not subject to any outstanding settlement agreement, order, ruling, decree, judgment, or stipulation preventing their use by Buyer Purchasers in the Business as currently conducted.
Judgments and Settlements. The cost of awards, judgments, fines, interest, penalties, attorney's fees, and/or settlements generated by the WORK are considered WORK costs.
Judgments and Settlements. If, by the terms of a (i) settlement of any claim against SONOMED or OTI, or (ii) judgment, decree or decision of a court, tribunal or other authority of competent jurisdiction finding that sale of any of the Products infringes a patent, or violates any other proprietary rights of any third party, SONOMED is required to compensate or pay damages to such third party, OTI will pay all such damages.
Judgments and Settlements. 38 10.11 ERISA............................................................... 38 10.12
Judgments and Settlements. The cost of awards, judgments, or settlements generated by the WORK are to be paid from the funds committed in this AGREEMENT.