Notice of Commercial Tort Claims. If any Grantor shall at any time acquire a Commercial Tort Claim, such Grantor shall immediately notify the Secured Party in a writing signed by such Grantor which shall (a) provide brief details of said claim and (b) grant to the Secured Party a security interest in said claim and in the proceeds thereof, all upon the terms of this Agreement, in such form and substance satisfactory to the Secured Party.
Appears in 10 contracts
Samples: Securities Purchase Agreement (Infinity Resources Holdings Corp.), Security Agreement (Homeland Security Capital CORP), Security Agreement (Telkonet Inc)
Notice of Commercial Tort Claims. If any Grantor shall at any time acquire a Commercial Tort Claim, such each Grantor shall immediately notify the Secured Party in a writing signed by such Grantor which shall (a) provide brief details of said claim and (b) grant to the Secured Party a security interest in said claim and in the proceeds thereof, all upon the terms of this Agreement, in such form and substance satisfactory to the Secured Party.
Appears in 9 contracts
Samples: Security Agreement (Kona Gold Beverage, Inc.), Security Agreement (Kraig Biocraft Laboratories, Inc), Security Agreement (Kona Gold Beverage, Inc.)
Notice of Commercial Tort Claims. If any the Grantor shall at any time acquire a Commercial Tort ClaimClaim in addition to any Commercial Tort Claim included in the Pledged Property, such the Grantor shall immediately notify the Secured Party in a writing signed by such the Grantor which shall (a) provide brief details of said claim and (b) grant to the Secured Party a security interest in said claim and in the proceeds thereof, all upon the terms of this Agreement, in such form and substance satisfactory to the Secured Party.
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