Collateralization. Promptly after the date hereof, the parties hereto shall meet and negotiate in good faith towards securing the Bridge Facility Promissory Note with the assets referred to in the license agreement related thereto in the circumstances where STC is required to borrow under Section 7.12(b). Such good faith negotiations shall involve negotiating a customary security interest and security agreement. CGI and STC shall use all reasonable efforts to conclude such negotiations by January 31, 1997.
Appears in 3 contracts
Sources: Agreement and Plan of Merger and Reorganization (Cell Genesys Inc), Merger Agreement (Cell Genesys Inc), Merger Agreement (Somatix Therapy Corporation)