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 claims in excess of $500,000 individually or $1,000,000 in the aggregate (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately upon such acquisition, deliver to the Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, 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 Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 shall, after the receipt thereof by the Collateral Agent, 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 claims claim with an aggregate value in excess of $500,000 individually or $1,000,000 in the aggregate (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Administrative Agent, in each case in form and substance satisfactory to the Administrative Agent, 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 Collateral Administrative Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Administrative Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 5.9 shall, after the receipt thereof by the Collateral Administrative Agent, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Collateral Agent, 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 Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Collateral Agent, any document, and take all other action, reasonably deemed by the Administrative Collateral Agent to be reasonably necessary or appropriate for the Collateral Agent to obtain, on behalf of the LendersSecured 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 5.8 5.9 shall, after the receipt thereof by the Collateral Agent, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim (whether from another Person or because such commercial tort claim shall have come into existence)) as to which it has claimed or reasonably expects to recover more than $5,000,000, (i) such Grantor shall, immediately upon such acquisition, shall promptly deliver to the Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Collateral Agent, 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 Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Collateral Agent, any document, and take all other action, deemed reasonably necessary (or otherwise reasonably requested by the Administrative Agent to be reasonably necessary or appropriate Collateral Agent) for the Collateral Agent to obtain, on behalf of the LendersSecured 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 5.8 4.9 shall, after the receipt thereof by the Collateral Agent, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Collateral Agent, 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 Collateral Agent, in each case in form and substance satisfactory to the Administrative Collateral Agent, any document, and take all other action, reasonably deemed by the Administrative Collateral Agent to be reasonably necessary or appropriate for the Collateral Agent to obtain, on behalf of the LendersSecured 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 5.8 5.9 shall, after the receipt thereof by the Collateral Agent, 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 claims claim having a value reasonably believed by the Grantors to be individually or in aggregate in excess of $500,000 individually or $1,000,000 in the aggregate 250,000 (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately promptly (and in any event, within 5 Business Days) upon such acquisition, deliver to the Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, 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 Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 5.7 shall, after the receipt thereof by the Collateral Agent, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim (whether from another Person or because such commercial tort claim shall have come into existence)) in which the damages being sought, when added to the damages being sought in all other commercial torts claims of all Grantors, exceed $100,000, (i) such Grantor shall, immediately upon such acquisition, deliver to the Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, Agent a notice of the existence and nature of such commercial tort claim and a supplement to Schedule 1 E to the Disclosure Letter 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 Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent such Grantor to be reasonably necessary or appropriate for the Collateral Agent to obtain, on behalf of the LendersSecured 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 E to the Disclosure Letter delivered pursuant to this Section 5.8 4.7 shall, after the receipt thereof by the Collateral Agent, become part of Schedule 1 E to the Disclosure Letter 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 claims claim in excess of $500,000 100,000 individually or and $1,000,000 250,000 in the aggregate for all such commercial tort claims (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately upon within five (5) Business Days (or such later period acceptable to Agent) of such acquisition, deliver to the Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, 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 Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 5.9 shall, after the receipt thereof by the Collateral Agent, 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 or have any commercial tort claims claim with requested damages in excess of $500,000 2,000,000 individually or $1,000,000 4,000,000 in the aggregate (whether from another Person or because such commercial tort claim shall have come into existence)aggregate, (i) such Grantor shall, immediately upon such acquisitionpromptly (but in any event no later than the next date for delivery of financial statements under Section 5.01(a) or (b) of the Credit Agreement), deliver to the Collateral Administrative Agent, in each case in form and substance satisfactory to the Administrative Agent, a notice of the existence and nature of such commercial tort claim claims and a supplement to Schedule 1 containing a specific description of such commercial tort claimclaims, (ii) Section 3.1 shall apply to such commercial tort claim claims and (iii) such Grantor shall execute and deliver to the Collateral Administrative Agent, in each case in form and substance satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Administrative Agent to obtain, on behalf of the LendersSecured 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 5.8 shall, after the receipt thereof by the Collateral Administrative Agent, 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 claims claim with an aggregate value in excess of $500,000 individually or $1,000,000 in the aggregate 50,000 (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Administrative Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, 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 Collateral Administrative Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Administrative Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 5.9 shall, after the receipt thereof by the Collateral Administrative Agent, 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 claims claim in excess of $500,000 individually or $1,000,000 (as reasonably determined by a Responsible Officer of Borrower in the aggregate (good faith) whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, 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 Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Agent to obtain, on behalf for the benefit of the LendersSecured 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 5.8 5.9 shall, after the receipt thereof by the Collateral Agent, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim (whether from another Person or because such commercial tort claim shall have come into existence)) in an amount (taking the greater of the aggregate claimed damages thereunder or the reasonable estimated value thereof) of $1,000,000 or more, (i) such Grantor shall, immediately upon such acquisition, deliver to the Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, 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 Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Agent to obtain, on behalf for the benefit of the LendersSecured 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 5.8 shall, after the receipt thereof by the Collateral Agent, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim that is Collateral (whether from another Person or because such commercial tort claim shall have come into existence), which could reasonably be expected to exceed $100,000 (i) such Grantor shall, immediately upon promptly after such acquisition, deliver to the Collateral Administrative Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, 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 Collateral Administrative Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Administrative Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 5.9 shall, after the receipt thereof by the Collateral Administrative Agent, 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 claims claim with an aggregate value in excess of $500,000 individually or $1,000,000 in the aggregate (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Agent, in each case in form and substance satisfactory to the Administrative Collateral Agent, 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 Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Collateral Agent, any document, and take all other action, deemed by the Administrative Collateral Agent to be reasonably necessary or appropriate for the Collateral Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 shall, after the receipt thereof by the Collateral Agent, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim (whether from another Person or because such commercial tort claim in excess of $100,000 shall have come into existence), (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative AgentAgent by no later than 10 Business Days after which such commercial tort claim was acquired, 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 Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 5.9 shall, after the receipt thereof by the Collateral Agent, 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 claims claim where such Grantor’s claim is in excess of $500,000 individually 100,000 or its recovery thereunder could reasonably be expected to be greater than $1,000,000 in the aggregate 100,000 (whether from another Person or because such commercial tort claim shall have come into existence)) and upon a Responsible Office becoming aware thereof, (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Agent, in each case in form and substance satisfactory to the Administrative Agent, Agent 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 Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Agent to obtaincreate, perfect and protect Agent’s Lien, on behalf of the LendersSecured 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 5.8 5.9 shall, after the receipt thereof by the Collateral Agent, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately upon such acquisition, deliver to the Collateral AgentTrustee, in each case in form and substance satisfactory to the Administrative AgentCollateral Trustee, 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 Collateral AgentTrustee, in each case in form and substance satisfactory to the Administrative AgentCollateral Trustee, any document, and take all other action, deemed by the Administrative Agent Collateral Trustee to be reasonably necessary or appropriate for the Collateral Agent Trustee to obtain, on behalf of the LendersSecured 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 5.8 4.9 shall, after the receipt thereof by the Collateral AgentTrustee, 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 claims in excess of $500,000 individually or $1,000,000 in the aggregate claim (whether from another Person or because such commercial tort claim shall have come into existence)) in excess of $75,000, (i) such Grantor shall, immediately upon such acquisition, deliver to the Collateral Administrative Agent, in each case in form and substance satisfactory to the Administrative Agent, 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 Collateral Administrative Agent, in each case in form and substance satisfactory to the Administrative Agent, any document, and take all other action, deemed by the Administrative Agent to be reasonably necessary or appropriate for the Collateral Administrative Agent to obtain, on behalf of the LendersSecured 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 5.8 shall, after the receipt thereof by the Collateral Administrative Agent, 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 claims claim with an aggregate value in excess of $500,000 individually or $1,000,000 in the aggregate 50,000 (whether from another Person or because such commercial tort claim shall have come into existence), (i) such Grantor shall, immediately promptly upon such acquisition, deliver to the Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Collateral Agent, 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 Collateral Agent, in each case in form and substance reasonably satisfactory to the Administrative Collateral Agent, any document, and take all other action, deemed by the Administrative Collateral Agent to be reasonably necessary or appropriate for the Collateral Agent to 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 claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.8 5.9 shall, after the receipt thereof by the Collateral Agent, 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.