Common use of Litigation Against Borrower Clause in Contracts

Litigation Against Borrower. Any judgment is obtained against Borrower in excess of $500,000, which could or does substantially impact the ability of Borrower to perform any of its obligations under the Loan Documents, and such judgment is not dismissed within ninety (90) days;

Appears in 2 contracts

Sources: Loan Agreement (Lucas Energy, Inc.), Loan Agreement (Lucas Energy, Inc.)