Common use of Material Judgments Clause in Contracts

Material Judgments. With the exception of the Quantum Judgment, one or more judgments or decrees shall be entered against a Note Party involving in the aggregate a liability (to the extent not paid or covered by insurance as to which the relevant insurance company has not denied coverage) of the Threshold Amount or more, and all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal within sixty (60) days from the entry thereof, or any action shall be taken by a judgment creditor to attach or levy upon a substantial and material part of the assets of any Note Party or any of their Subsidiaries to enforce any such judgment or decree; or