Examples of Tort Claim in a sentence
If any Pledgor shall at any time hold or acquire a Commercial Tort Claim alleging damages, individually, in excess of $1,000,000, such Pledgor shall promptly (and in any event within 15 days of acquiring such Commercial Tort Claim) notify the Collateral Agent in a writing signed by such Pledgor of the brief details thereof and grant to the Collateral Agent in such writing a security interest therein and in the Proceeds thereof, all upon the terms of this Agreement.
Unless otherwise agreed, the grant of a security interest in any such Commercial Tort Claim shall not prejudice the right of such Pledgor to prosecute, enforce or exercise any of its rights in connection with such Commercial Tort Claim, which it will continue to enjoy until an Event of Default has occurred and is continuing.