Examples of Reimbursable Event in a sentence
In no event will any Reimbursable Loss claimed and paid under one “Reimbursable Event” be recoverable under any other Reimbursable Event or recoverable by aggregating caps in multiple years when the Reimbursable Loss would have been limited by a limitation if submitted and paid all within the same year.
When Columbia Tech and another Affiliate of Columbia Tech (e.g. Cogmedix, Inc.) both work on Products, the combined liability for the Reimbursable Event shall not exceed the amounts of the Caps if the Reimbursable Event occurred with only one party’s participation.
In the event (i) OmniComm does not pay the Pledge Fee to Pledgor pursuant to Section 1 herein, or (ii) a Reimbursable Event occurs, Pledgor and OmniComm agree that OmniComm shall immediately issue a promissory note in favor of Pledgor in the principal amount equal to the value of the Collateral foreclosed and/or the unpaid Pledge Fee, which promissory note shall bear Interest at the then current promissory note rate, and have the same Maturity Date, as provided in the Line of Credit.
In consideration of the execution by the Pledgor of the Pledge Agreements, the Securities Account Control Agreements and provide the Collateral, effective and commencing on March 18, 2013 OmniComm shall pay to the Pledgor 2.0% interest on the required amount of Collateral pledged pursuant to the terms of the Pledge Agreement (the “Pledge Fee”), payable monthly and shall continue to pay for so long as Pledgor shall be subject to any possible claim relating to a Reimbursable Event.
The parties agree that, in the event Pledgor executes a future pledge agreement(s) and securities account control agreement(s), or pledges any additional collateral, then in each case this Agreement shall apply and govern the terms of reimbursement and indemnification between the parties, and all obligations of OmniComm contained herein shall continue for so long as Pledgor shall be subject to any possible claim relating to a Reimbursable Event.
All obligations of HAPC contained herein shall continue for so long as a Guarantor shall be subject to any possible claim relating to a Reimbursable Event.