Common use of Security Support Clause in Contracts

Security Support. In order to secure the performance of the Obligations, Borrowers, as a condition precedent to the initial Advance, execute and deliver: (i) a Taiwan Promissory Note in an amount of Twelve Million Dollars ($12,000,000) (except that the due date, the date from which interest is to accrue and the interest rate thereon shall be left blank) (in form of Exhibit E) and (ii) a Taiwan Note Authorization (in form of Exhibit F). The original(s) of the Taiwan Promissory Note shall be returned to the Parent within three (3) Business Days after all of the Obligations of Borrowers have been fully repaid and performed.

Appears in 2 contracts

Sources: Loan and Security Agreement (Taiwan Liposome Company, Ltd.), Loan and Security Agreement (Taiwan Liposome Company, Ltd.)

Security Support. In order to secure the performance of the Obligations, Borrowers, as a condition precedent to the initial AdvanceAdvance on the Second Amendment Date, execute and deliver: (i) a Taiwan Promissory Note in an amount of Twelve Million Dollars ($12,000,000) (except that the due date, the date from which interest is to accrue and the interest rate thereon shall be left blank) (in form of Exhibit E) and (ii) a Taiwan Note Authorization (in form of Exhibit F). The original(s) of the Taiwan Promissory Note shall be returned to the Parent within three (3) Business Days after all of the Obligations of Borrowers have been fully repaid and performed.

Appears in 1 contract

Sources: Loan and Security Agreement (Taiwan Liposome Company, Ltd.)