Common use of Tort Claim Notice Clause in Contracts

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000), Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 3 contracts

Samples: Loan and Security Agreement (Direct Digital Holdings, Inc.), Loan and Security Agreement (Savara Inc), Loan and Security Agreement (Augmedix, Inc.)

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Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 3 contracts

Samples: Loan and Security Agreement (Beamr Imaging Ltd.), Loan and Security Agreement (Spartan Acquisition Corp. II), Loan and Security Agreement (Innovid Corp.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof thereof, and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 2 contracts

Samples: Loan and Security Agreement (Environmental Impact Acquisition Corp), Loan and Security Agreement (Candel Therapeutics, Inc.)

Tort Claim Notice. If Borrower Xxxxxxxx shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 2 contracts

Samples: Loan and Security Agreement (Netlist Inc), Loan and Security Agreement (Owlet, Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)claim, Borrower shall promptly notify Bank Agent in a writing signed by Borrower of the general details thereof and grant to Bank Agent, for the ratable benefit of the Lenders, in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to BankAgent;

Appears in 2 contracts

Samples: Loan and Security Agreement (AVROBIO, Inc.), Loan and Security Agreement (Inmune Bio, Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim that could reasonably be expected to provide Borrower with a value benefit valued in excess of Two Hundred Fifty Thousand Dollars ($250,000)500,000.00, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 2 contracts

Samples: Loan and Security Agreement (Ibotta, Inc.), Loan and Security Agreement (Ibotta, Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two One Hundred Fifty Thousand Dollars ($250,000)100,000) individually or in the aggregate, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (Tenaya Therapeutics, Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)250,000.00, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (Achieve Life Sciences, Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)50,000, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (6d Bytes Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess an aggregate amount of Two Hundred Fifty Thousand Dollars ($250,000)100,000.00 or more, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof thereof, and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (Cue Biopharma, Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)250,000.00 or more, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof thereof, and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (EyePoint Pharmaceuticals, Inc.)

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Tort Claim Notice. If any Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand One Million Dollars ($250,0001,000,000), such Borrower shall promptly notify Bank in a writing signed by such Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;; (l)

Appears in 1 contract

Samples: Loan and Security Agreement (Outbrain Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)150,000.00, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof thereof, and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (Imunon, Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;; (m)

Appears in 1 contract

Samples: Loan Agreement (Sunlight Financial Holdings Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)500,000.00, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (Sonder Holdings Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)100,000.00 individually and in the aggregate, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (Myomo, Inc.)

Tort Claim Notice. If Borrower shall acquire a commercial tort claim with a value in excess of Two Hundred Fifty Thousand Dollars ($250,000)250,000.00, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof thereof, and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;

Appears in 1 contract

Samples: Loan and Security Agreement (Eyenovia, Inc.)

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