Material Commercial Tort Claim definition

Material Commercial Tort Claim means a Commercial Tort Claim involving a claim for more than $5,000,000.

Material Commercial Tort Claim means any commercial tort claim with respect to which a Loan Party is the plaintiff or a beneficiary and that makes a claim for damages, or other claim for judgment, in an amount greater than or equal to $10,000,000.

Material Commercial Tort Claim means any commercial tort claim with respect to which a Credit Party is the plaintiff or a beneficiary and that makes a claim for damages, or other claim for judgment, in an amount greater than or equal to $2,000,000.

Examples of Material Commercial Tort Claim in a sentence

• In the case of any other Grantor, Schedule 3 to its first Security Agreement Supplement will accurately describe, with the specificity required to satisfy said Official Comment 5, each Material Commercial Tort Claim with respect to which such Grantor is the claimant as of the date on which it signs and delivers such Security Agreement Supplement.

• In the case of any other Lien Grantor, Schedule 4 to its first Security Agreement Supplement will accurately describe, with the specificity required to satisfy said Official Comment 5, each Material Commercial Tort Claim with respect to which such Lien Grantor is the claimant as of the date on which it signs and delivers such Security Agreement Supplement.

• Each Grantor hereby covenants and agrees that it shall provide the Administrative Agent with prompt written notice of each Material Commercial Tort Claim, and any judgment, settlement or other disposition thereof and will take such action as the Administrative Agent may request to grant and perfect a security interest therein in favor of the Administrative Agent and the other Secured Parties.

• In the case of any other Grantor, Schedule 3 to its first Guarantee and Collateral Agreement Supplement will accurately describe, with the specificity required to satisfy said Official Comment 5, each Material Commercial Tort Claim with respect to which such Grantor is the claimant as of the date on which it signs and delivers such Guarantee and Collateral Agreement Supplement.

• Each Grantor represents, warrants and covenants that Schedule 3 accurately describes, with the specificity required to satisfy Official Comment 5 to UCC Section 9-108, each Material Commercial Tort Claim with respect to which such Grantor is the claimant as of the date hereof.

More Definitions of Material Commercial Tort Claim

Material Commercial Tort Claim means any commercial tort claim where the amount of damages claimed by the applicable Loan Party is at least $1,000,000.

Material Commercial Tort Claim means a Commercial Tort Claim involving a claim for more than $10,000,000.

Material Commercial Tort Claim means any Commercial Tort Claim with a fair market value (as determined in good faith by the applicable Lien Grantor) in excess of $10,000,000.

Material Commercial Tort Claim means a Commercial Tort Claim that the Company has determined in good faith could reasonably be expected to result in a recovery by the Company or the applicable Subsidiary Guarantor of more than $5,000,000.

Material Commercial Tort Claim means a Commercial Tort Claim (as defined under the UCC) involving a claim for more than $5,000,000.

Material Commercial Tort Claim means any commercial tort claim with respect to which a Loan Party is the plaintiff or a beneficiary and that makes a

Material Commercial Tort Claim means any commercial tort claim with respect to which a Credit Party is the plaintiff or a beneficiary and that makes a claim for damages, or other claim for judgment, in an amount greater than or equal to $2,000,000. “Material IP Subsidiary” means any Subsidiary that (a) owns or licenses Intellectual Property Rights that, individually or in the aggregate, either (i) have a fair market value in excess of $1,000,000, (ii) are leased, licensed or otherwise provided to the Borrower or any of its other Subsidiaries for annual license, royalty or other payments in excess of $1,000,000 or (iii) are material to the operations and/or businesses of the Borrower and its Subsidiaries, taken as a whole or (b) is designated by the Borrower as a “Material IP Subsidiary” in writing as a result of its determination that such designation is reasonably necessary to the operations and/or businesses of the Borrower and its Subsidiaries, taken as a whole. “Material Leased Property” means any single parcel, or adjacent or related parcels, of real property leased (or similarly held, but excluding any Real Estate Asset) by any Credit Party where assets that constitute, or are intended under this Agreement and the other Credit Documents to constitute, Collateral with an aggregate fair market value (as reasonably determined by the Borrower) amount in excess of $5,000,000 are at any time located. “Material Letter of Credit Right” means any “letter of credit right” under the UCC in a face amount greater than or equal to $2,000,000 individually (or collectively in the case of multiple letter of credit rights securing the same asset or claim). “Material Real Estate Asset” means any Real Estate Asset that has a fair market value (as reasonably determined by the Borrower) in excess of $7,500,000. “Moody’s” means Xxxxx’x Investor Services, Inc., together with its successors. “Mortgaged Property Support Documents” means, with respect to any Real Estate Asset constituting, or intended to constitute, Collateral, such third party consents, intercreditor agreements, mortgagee title insurance policies (in amounts and with endorsements reasonably acceptable to the Administrative Agent), surveys, appraisals, environmental reports, flood hazard certifications and, evidence of flood insurance (if such insurance is required by Applicable Law), and such other mortgage-related documents as the Administrative Agent or the Collateral Agent may reasonably request in connection with the Mortgage of such R...