Defend Against Claims. Such Guarantor will defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein unless both the Agent and such Guarantor determine that the claim or demand is not material and that, consequently, such defense would not be consistent with good business judgment. Such Guarantor will not permit any lien notices with respect to the Collateral or any portion thereof to exist or be on file in any public office except for those in favor of the Agent and those permitted under the terms of the Loan Agreement.
Appears in 3 contracts
Samples: Guarantors General Security Agreement (Acura Pharmaceuticals, Inc), Guarantors General Security Agreement (Acura Pharmaceuticals, Inc), Guarantors General Security Agreement (Acura Pharmaceuticals, Inc)
Defend Against Claims. Such Guarantor will defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein unless both the Agent and such Guarantor determine that the claim or demand is not material and that, consequently, such defense would not be consistent with good business judgment. Such Guarantor will not permit any lien notices with respect to the Collateral or any portion thereof to exist or be on file in any public office except for those in favor of the Agent and those permitted under the terms of the Loan Purchase Agreement.
Appears in 1 contract
Samples: Guarantors General Security Agreement (Halsey Drug Co Inc/New)
Defend Against Claims. Such Guarantor will defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein unless both the Agent and such Guarantor determine that the claim or demand is not material and that, consequently, such defense would not be consistent with good business judgment. Such Guarantor will not permit any lien notices with respect to the Collateral or any portion thereof to exist or be on file in any public office except for those in favor of the Agent and those permitted under the terms of the Loan Agreement.
Appears in 1 contract
Samples: Guarantor General Security Agreement (Acura Pharmaceuticals, Inc)
Defend Against Claims. Such Guarantor will defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein unless both the Agent and such Guarantor determine that the claim or demand is not material and that, consequently, such defense would not be consistent with good business judgment. Such Guarantor will not permit any lien notices with respect to the Collateral or any portion thereof to exist or be on file in any public office except for those in favor of the Agent and those permitted under the terms of the Loan Purchase Agreement.
Appears in 1 contract
Samples: Guarantors General Security Agreement (Halsey Drug Co Inc/New)
Defend Against Claims. Such Guarantor will defend the Collateral against all claims and demands of all Persons persons at any time claiming the same or any interest therein unless both the Agent and such Guarantor determine that the claim or demand is not material and that, consequently, such defense would not be consistent with good business judgment. Such Guarantor will not permit any lien notices with respect to the Collateral or any portion thereof to exist or be on file in any public office except for those in favor of the Agent and those permitted under the terms of the Loan Purchase Agreement.
Appears in 1 contract
Samples: Guarantors General Security Agreement (Halsey Drug Co Inc/New)
Defend Against Claims. Such Guarantor will defend the Collateral against all claims and demands of all Persons persons at any time claiming the same or any interest therein unless both the Agent Lender and such Guarantor determine that the claim or demand is not material and that, consequently, such defense would not be consistent with good business judgment. Such Guarantor will not permit any lien notices with respect to the Collateral or any portion thereof to exist or be on file in any public office except for those in favor of the Agent Lender and those permitted under the terms of the Loan Agreement.
Appears in 1 contract
Samples: Watson Guarantors Security Agreement (Halsey Drug Co Inc/New)