Common use of Notice of Commercial Tort Claims Clause in Contracts

Notice of Commercial Tort Claims. Such Grantor agrees that, if it shall acquire any interest in any commercial tort claim (whether from another Person or because such commercial tort claim shall have come into existence), with an aggregate principal amount in excess of $50,000, (i) such Grantor shall, immediately upon such acquisition, deliver to the Lender, in each case in form and substance satisfactory to the Lender, a notice of the existence and nature of such commercial tort claim and a supplement to Schedule 1 containing a specific description of such commercial tort claim, (ii) Section 3.1 shall apply to such commercial tort claim and (iii) such Grantor shall execute and deliver to the Lender, in each case in form and substance satisfactory to the Lender, any document, and take all other action, deemed by the Lender to be reasonably necessary or appropriate for the Lender to obtain a perfected security interest having at least the priority set forth in Section 4.2 in all such commercial tort claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.9 shall, after the receipt thereof by the Lender, become part of Schedule 1 for all purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt.

Notice of Commercial Tort Claims. Such Grantor agrees that, if it shall acquire become aware of its acquisition of any interest in any commercial tort claim with a expected recovery value in excess of $500,000 (whether from another Person or because such commercial tort claim shall have come into existence), with an aggregate principal amount in excess of $50,000, (i) such Grantor shall, immediately within 5 Business Days upon such acquisition, deliver to the LenderAgent, in each case in form and substance satisfactory to the LenderAgent, a notice of the existence and nature of such commercial tort claim and a supplement to Schedule 1 containing a specific description of such commercial tort claim, (ii) Section 3.1 shall apply to such commercial tort claim and (iii) such Grantor shall execute and deliver to the LenderAgent, in each case in form and substance satisfactory to the LenderAgent, any document, and take all other action, deemed by the Lender Agent to be reasonably necessary or appropriate for Agent to obtain, on behalf of the Lender to obtain Lenders, a perfected security interest having at least the priority set forth in Section 4.2 in all such commercial tort claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.9 5.8 shall, after the receipt thereof by the LenderAgent, become part of Schedule 1 for all purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt.

Notice of Commercial Tort Claims. Such Grantor agrees that, if it shall acquire any interest in any commercial tort claim (that is Collateral) which could reasonably be expected to exceed $100,000 (whether from another Person or because such commercial tort claim shall have come into existence), with an aggregate principal amount in excess of $50,000, (i) such Grantor shall, immediately upon promptly after becoming aware of such acquisition, deliver to the LenderAgent, in each case in form and substance reasonably satisfactory to the LenderAgent, a notice of the existence and nature of such commercial tort claim and a supplement to Schedule 1 containing a specific description of such commercial tort claim, (ii) Section 3.1 shall apply to such commercial tort claim and (iii) such Grantor shall execute and deliver to the LenderAgent, in each case in form and substance reasonably satisfactory to the LenderAgent, any document, and take all other action, deemed by the Lender Agent to be reasonably necessary or appropriate for Agent to obtain, on behalf of the Lender to obtain Lenders, a perfected security interest having at least the priority set forth in Section 4.2 in all such commercial tort claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.9 5.8 shall, after the receipt thereof by the LenderAgent, become part of Schedule 1 for all purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt.

Notice of Commercial Tort Claims. Such Grantor The Borrower agrees that, if it shall acquire any interest in any commercial tort claim with an aggregate value in excess of $10,000 (whether from another Person or because such commercial tort claim shall have come into existence), with an aggregate principal amount in excess of $50,000, (i) such Grantor the Borrower shall, immediately promptly upon such acquisition, deliver to the Lender, in each case in form and substance reasonably satisfactory to the Lender, a notice of the existence and nature of such commercial tort claim and a supplement to Schedule 1 5 containing a specific description of such commercial tort claim, (ii) Section 3.1 2.1 shall apply to such commercial tort claim and (iii) such Grantor the Borrower shall execute and deliver to the Lender, in each case in form and substance reasonably satisfactory to the Lender, any document, and take all other action, deemed by the Lender to be reasonably necessary or appropriate for the Lender to obtain a perfected security interest having at least the priority set forth in Section 4.2 3.2 in all such commercial tort claims. Any supplement to Schedule 1 5 delivered pursuant to this Section 5.9 4.9 shall, after the receipt thereof by the Lender, become part of Schedule 1 5 for all purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt.

Notice of Commercial Tort Claims. Such Grantor agrees that, if it shall acquire any interest in any commercial tort claim (whether from another Person or because such commercial tort claim shall have come into existenceexistence and excluding any commercial tort claims which individually or in the aggregate do not exceed $1,000,000), with an aggregate principal amount in excess of $50,000, (i) such Grantor shall, immediately upon such acquisition, deliver to the LenderAgent, in each case in form and substance satisfactory to the LenderAgent, a notice of the existence and nature of such commercial tort claim and a supplement to Schedule 1 containing a specific description of such commercial tort claim, (ii) Section 3.1 2.1 shall apply to such commercial tort claim and (iii) such Grantor shall execute and deliver to the LenderAgent, in each case in form and substance satisfactory to the LenderAgent, any document, and take all other action, deemed by the Lender Agent to be reasonably necessary or appropriate for Agent to obtain, on behalf of the Lender to obtain Secured Parties, a perfected security interest having at least the priority set forth in Section 4.2 3.2 in all such commercial tort claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.9 4.9 shall, after the receipt thereof by the LenderAgent, become part of Schedule 1 for all purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt.

Notice of Commercial Tort Claims. Such Grantor agrees that, if it shall acquire any interest in any commercial tort claim with a value in excess of $100,000 (whether from another Person or because such commercial tort claim shall have come into existence), with an aggregate principal amount in excess of $50,000, (i) such Grantor shall, immediately upon promptly following such acquisition, deliver to the LenderAgent, in each case in form and substance reasonably satisfactory to the LenderAgent, a notice of the existence and nature of such commercial tort claim and a supplement to Schedule 1 containing a specific description of such commercial tort claim, (ii) Section 3.1 shall apply to such commercial tort claim and (iii) upon the reasonable request of Agent, such Grantor shall execute and deliver to the LenderAgent, in each case in form and substance reasonably satisfactory to the LenderAgent, any document, and take all other action, deemed by the Lender Agent to be reasonably necessary or appropriate for Agent to obtain, for the Lender to obtain benefit of the Secured Parties, a perfected security interest having at least the priority set forth in Section 4.2 in all such commercial tort claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.9 5.8 shall, after the receipt thereof by the LenderAgent, become part of Schedule 1 for all purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt.

Notice of Commercial Tort Claims. Such Grantor agrees that, if it shall acquire any interest in any commercial tort claim which could reasonably be expected to exceed $100,000 (whether from another Person or because such commercial tort claim shall have come into existence), with an aggregate principal amount in excess of $50,000, (ia) such Grantor shall, immediately upon promptly after becoming aware of such acquisition, deliver to the LenderAgent, in each case in form and substance reasonably satisfactory to the LenderAgent, a notice of the existence and nature of such commercial tort claim and a supplement to Schedule 1 containing a specific description of such commercial tort claim, (iib) Section 3.1 shall apply to such commercial tort claim and (iiic) such Grantor shall execute and deliver to the LenderAgent, in each case in form and substance satisfactory to the LenderAgent, any document, and take all other action, deemed by the Lender Agent to be reasonably necessary or appropriate for the Lender Agent to obtain obtain, on behalf of the Lenders, a perfected security interest having at least the priority set forth in Section 4.2 in all such commercial tort claimsclaim. Any supplement to Schedule 1 delivered pursuant to this Section 5.9 shall, after the receipt thereof by the LenderAgent, become part of Schedule 1 for all purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt.